5 Emerging Technologies That Will Impact The Ecommerce Sector In 2021

5 Emerging Technologies that will Impact The Ecommerce Sector in 2021

by Akshit Chaku — 3 years ago in Blockchain Technology 4 min. read

The leaps and bounds in technology have led businesses to experience massive growth. The emergence of apps and tech trends have indeed contributed to making online shopping a norm, practiced worldwide. 

Considering the surge in the demand, the future looks bright for the eCommerce industry. And with the promising technologies at the disposal, it is expected to witness relentless development. 

This blog post unleashes some of the relishing emerging technologies that will thrive the online-shopping industry beyond trillions of dollars.

1. AI for a personalized shopping experience

To grab the users’ attention with a personalized experience is a million-dollar idea, and Artificial Intelligence makes it possible. With this tech trend, when a visitor comes online, then AI bot vets out the customer’s profile and information, and quickly finds out the relevant insights to shape up the users’ shopping journey.

It goes through transaction history, previous interaction, product preference, and location to suggest the ideal products. but it doesn’t stop here and creates and delivers product recommendations through widgets, pop-ups, and ads. This enables visitors to get a personalized feel and set their foot forward in the right direction.

2. Blockchain for fraud detection

To start with, Blockchain technology was developed and designed primarily for bitcoin transactions, and other cryptocurrency-related affairs. But over the period of time, its capabilities found an extension, and have now become purposeful for the eCommerce sector as well.

Since blockchain works, sans any centralized authority, it enables everyone to access all the information within while being unable to alter any details. And this very characteristic of this tech-trend is used primarily in the eCommerce sector to enhance the process of product traceability. Further, it also supports offering a shield against online fraud, and protects and prevents cyberattack on users’ account or card details.

3. Internet of Things for improved tracking

The very concept of IoT- the Internet of Things has let different devices communicate with each other. And this technology has opened a floodgate of opportunity to share information and relay commands for offering better coordination for tracking.

It holds the potential to derive data from any type of device, ranging from simple to complex. Despite having a huge galore of benefits, a concern arises that how IoT can be configured within the eCommerce sector, and bring results?

Hmm, so the answer to this question suggests that IoT for eCommerce is nothing less than a silver bullet, that helps in improving inventory management. Further, the inclusion of RFIDs and sensors enable customers to closely monitor to-be delivered products in real-time and let not the quality get compromised.

On the other hand, the warehouse staff can keep a check on the available stock, and keep the space for upcoming products. It also streamlines the coordination between sellers and customers, by offering accurate location and real-time information of the package.
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4. Chatbots for an enhanced user experience

For an eCommerce business, the worth of chatbots has surpassed the imagination, wherein the intelligent AI-powered chatbots have gradually turned out to be a never-stopping support system. These bots are trained to handle customer requests on simple product queries and issues that are either repetitive or easy to be resolved.

With the constant advancement made in artificial intelligence and NLP, the ecosystem that runs behind the chatbots has also turned smarter, and capable of handling complex customer interactions.

They mimic human emotions and empathize with the customers to give them a most human-like experience while chatting. These bots are the most incredible piece of technology, that has the potential to engage visitors to influence and enhance their shopping experience.

5. VR for a futuristic shopping

Indeed, the future of eCommerce is certainly defined by the immersive technological trends, and VR is on top of this list. A few years ago, the integration of VR was considered being a buzzword, but now the situation has reversed, and now VR has proven its worth to be a necessity for the eCommerce sector.

The digital kiosk and digital driving are some of the most prominent use cases of VR in the eCommerce industry. Today, shopping through the futuristic mode of VR is the need of the hour, and addressing the demand of millennials effortlessly.

Future of eCommerce

Well, the tech adoption curve has paved a smooth way for the retailers to assess the risk and opportunities lying in front. It clearly demonstrates that the e-commerce sector is the most significant platform that will be relished by retailers and brands sooner, and here the influence of technology cannot be given a miss.

The virus outbreak from last year sped up changes across several verticals, and this acceleration is not going to stop anywhere but will continue to grow in its capacity into 2021 and much beyond. 

For brands to attain more traction for their products, while driving more traffic and converting that traffic into buying customers, the integration of technology is not a fad but a necessity to reshape the revenue generation strategy.

The tech-innovations are bringing ease and comfort to the eCommerce sector in abundance, and time will tell how far these trends will decide the future of online shopping.

The future is defined by improved technology and drones, beacons, eWallets, dash buttons, and one-click checkouts are some of the most awaited trends that will seize the opportunity. 
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Food for thought

The aforementioned tech trends are stupendous enough to capture the users’ attention and bring colossal profits for the retailers. Every passing moment there is something new and exciting for the eCommerce sector to witness, and with on-going technological innovations, there will be something unique and interesting to watch out for. 

Last but not the least, brands need to stay visible and relevant in the market to beat the odds of competition, and embracing tech solutions gives them the required digital curve to acquire a loyal customer base while offering a distinctive user-experience. 

Akshit Chaku

Akshit is a marketing strategist with Techugo. His specialties include digital marketing, content optimization, and brand recognition. When he’s not working, he relishes travel adventures, watching sports, and reading literary masterpieces.

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