Modern consumers are extremely demanding, and existing brands need to step up their game to compete in the ever-growing environment. Companies should therefore, be an early adopter of the upcoming trends to deliver better customer experience and increase return on investment.
Here are the upcoming trends in 2020
AI and Machine Learning
One of the most buzzing trends in digital commerce platform is AI and machine learning. The increased importance of AI and machine learning is helping vendors to deliver personalized content on the website, predictive analysis for online shoppers and much more. It has the potential to optimize e-commerce business. AI and machine learning help vendors to automate processes, target potential customers, and improve sales. They enhance customer experience by recommending products based on browsing behavior and past purchases. Customer-focused searches can be created, and search can be conceptualized and improved for e-shoppers.
Bots and Virtual Assistants
End users are expecting that they will be able to search through voice and to interact with brands with voice as well. Companies are integrating bots and virtual assistants like Alexa in their digital commerce platform where they can set up Alexa skills. Digital commerce platform vendors are moving towards voice search to deliver enhanced customer experience.
Internet Of Things (IOT) is gaining popularity in the e-commerce industry due to its ability to synchronize and transfer data over a network with various smart systems. Manufacturing of products is mostly done offshore and is shipped to various regions. Consequently, having better visibility of the entire shipping process is critical for manufacturers. IOT gives an ability to track shipments more effectively across regions or countries.
Additionally, vending machines are becoming an integral part of various industries. Vending machines allow organizations to take orders electronically rather than from a person. Hence, companies are paying attention to leverage IOT capabilities in the digital commerce platform.
Big data is helping e-commerce professionals to take a look at patterns of applying machine learning against the affinity of the product, package size within the products, regions or countries a product is sold. Big data helps to personalize analytics experiences. Consumer experience can be tracked and measured in multiple ways with various tools. Algorithms are designed to deliver personalized recommendations, email, and landing pages. Companies are leveraging big data capabilities to offer such level of personalization.
In conclusion, the adoption of these trends can produce exceptional results for e-commerce majorly in terms of customer satisfaction and revenue.