How Technology Is Redefining E-Commerce

Redefining The Consumer Shopping Experience

Where the e-commerce industry has fallen short of traditional brick and mortar retail outlets, is in the actual shopping experience. Nothing beats walking into a retail store and interacting with the product or service at least until now. The advent of virtual and augmented reality technologies has provisioned e-commerce vendors with an avenue to display their wares in immersive detail, comparable to the real-life experience. We believe the prospects for the industry could be potentially staggering. The former released its personalized virtual reality app and the latter created a full-featured VR store. Beyond marketing, the integration of VR and augmented reality (AR) can allow users to visualize themselves using products immediately and provides a unique way to engage the customer.

Making Selling As Easy As Buying

The traditional emphasis in the e-commerce industry has always been on the shopping experience from the viewpoint of the buyer. In addition to promoting seamless buying, technology is also working to the advantage of the seller. Easy access to instantaneous communication, information transfer, logistics processing, and online networking has allowed for remote orchestration of sustainable e-commerce platforms. Sellers no longer have to micromanage every aspect of the e-commerce business or possess the huge start-up capital associated with the sector in the past. Micromanagement can be alleviated by putting fluid workflow pipelines in place and expanding communication avenues, which makes it easier than ever to properly communicate with potential buyers. This is why e-commerce models like drop shipping have garnered such a large following and been so successful recently.

Seamless Payment Processing

If there’s one other thing that has been the bane of the e-commerce industry, it’s the issue of processing payments made by buyers. It’s proven to be either too hard or too expensive to incorporate a payment gateway capable of processing orders from all world markets. The last few years, however, have heralded the creation and widespread adoption of alternative payment methods such as e-wallets and gift cards. With other revolutionary payment solutions like Bitcoin gathering momentum, technology might once and for all eliminate the industry’s payment limitations. The ability to pay through blockchain removes the intermediate middlemen, allowing both businesses and customers to have more control over how they conduct business. Businesses can use this technology to bill customers directly, making the payment process more efficient and expediting the time it takes to receive funds.