Key Trends in E-Commerce Software Development
e-Commerce is expected to have exponential growth and reach $4.9 trillion by 2021. The question that arises is how to distinguish your services from the competition. How can a newbie create brand equity in the market? You need help of your software developers. Let us have an overview about the recent software trends.
Target the Mobile Customer
Most of us do our shopping using our mobile apps while we are on the move. The advent of the PWAs – the Progressive Web App, has made it easier. It uses web capabilities to deliver an app-like experience. Its benefits are manifold, such as –
- Engagement increases by 137%;
- Increase in conversion rates by 52%;
- 25 X reduction in device storage; and more.
The advent of IoT
The industry is striving to enhance customer experience. IoT is the answer to the impending expectations of improved customer experience. While customers can try clothes and jewellery virtually; logistics managers can manage inventory in real-time using sensors and RFID tags. IoT also helps to measure temperature checks of perishable items. As IoT starts to cover more devices, it will generate more data for e-commerce software to improve customer experience.
AI allows you to factor in multiple KPIs before finalising the prices of your products. You are now able to consider various factors; viz. product demand, competitor prices, historical rates and the customer's propensity to buy. Software algorithms can help you the optimum price that increases sales.
Augmented reality allows customers to browse through a wide assortment of products before they make their choice. Customers can visualise their purchases, thereby making them feel more connected with the product on offer. Moreover, they can have more accuracy in their purchase decisions.
The use of Voice Assistants
The use of voice search is increasing in e-commerce. The technology behind this is rather complicated. It requires artificial intelligence along with Natural Language Processing and machine learning. Research has suggested that voice search will cover 50% of all shopping.
As the e-commerce trends show exponential growth, the industry continues to strive for profitability and improved customer experience. E-commerce software is also evolving to ensure that the growth rate is sustainable and advantageous for investors. The industry, however, is continuously changing, ruled by specific e-commerce software trends.
This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.
© 2020 Sanjay Das