During the last few years, technology and the internet have pushed their roots deeper into society in general and the global economy in particular. Although many businesses around the world are familiar with the term ‘eCommerce,’ it is only recently that the true implementation and popularity of online shopping and the concept of the digital economy have been recognized.
The past few years have been a rollercoaster ride for companies as they grappled with the effects of the pandemic on their sales, operations, and costs. The onset of the pandemic and resulting lockdown explains the dramatic rise of eCommerce websites and software throughout this period. With more people finding online shopping more convenient, eCommerce sales increased to a staggering $5.5 trillion.
Online business and supporting technology are changing rapidly, and companies must adapt to the latest technological trends to survive and compete in the highly competitive digital marketplace. Here are the 11 latest trends in eCommerce software that you need to consider for your business growth:
1. AI-Based Chatbots
Artificial intelligence and machine learning are the foundations of the fifth generation of computing. While artificial intelligence continues to amaze humanity, the use of AI-powered algorithms and tools has greatly facilitated businesses in increasing their consumer base and providing efficient and effective customer support.
ECommerce automation uses AI-powered tools and mechanisms that support your business and provide maximum usability and ease of communication. AI-based chatbots are among the latest and most widely-used eCommerce automation tools. The purpose of these tools is to ensure a great customer experience by providing instant customer support.
Chatbots and other eCommerce automation tools help customers interact with the business for queries like wismo and troubleshooting. Chatbots can instantly sense customers’ queries and generate automatic responses. This response helps build customer trust and enhance customers’ experience with the website. The AI-based chatbots also cut significant costs as businesses do not require a human round-the-clock to address basic customer queries.
2. Web 3.0 and the Metaverse
Although web 3.0 and the transformation of the internet are still in a developmental phase, it promises to bring a revolution to the internet. With enhanced security parameters, improved communication, and metaverse development, web 3.0 is all set to change our internet experience forever.
The metaverse is a digital realm where people can experience the internet as an immersive virtual world using augmented reality (AR) and virtual reality (VR). Metaverse generates a 3D virtual world that virtually takes a user to a digital world and they feel surrounded by it using AR and VR technology.
Ecommerce businesses are one of the major industries that have already started to reap the benefits of web 3.0 and the metaverse. Using immersive technology, eCommerce software now allows users to have a virtual product experience, view a three-dimensional model of the product, and apply various colors and themes to these products to choose what suits them most.
Virtual worlds like Decentral and and The Sandbox have already allowed businesses to create virtual markets and shops to display items in a purchased property inside these metaverses. Real estate businesses use metaverse’s immersive technology to create and view buildings’ design and architecture. AR and VR devices help customers take a virtual tour of the product, property, or designs and enhance the user experience to a new level.
3. Responsive Web Designs
Responsive web designs are quickly becoming an essential component of all eCommerce websites. Responsive websites can retain the symmetry of visual content, text, and menus on all screen sizes and platforms. The new eCommerce website tools and content management systems create responsive websites by default.
Instead of creating separate versions of the same eCommerce website for different devices and screen sizes, a responsive website design makes virtual frames for each component on a webpage. It ensures the components do not lose their original layout and position when loaded on different screen sizes or web browsers.
4. Website Speed Optimization
Website speed optimization has been a hot subject recently, and the inclusion of speed optimization metrics in the latest updates in the Google Search Algorithm has further increased its importance.
Google has now introduced performance metrics like the largest contentful paint (LCP), first input delay (FIP), and cumulative layout shift (CLS) to rank websites in search results. All these performance metrics focus on the time it takes to load images and visual content, as well as input processing from interactive forms.
Ecommerce websites are incomplete without visual elements like product pictures and descriptive videos. The latest trends in eCommerce website development focus on optimizing a website’s speed by resizing or compressing videos and images and using content delivery networks. Web developers can also optimize a website’s speed using lazy loading techniques and code optimization.
5. Blockchain and Cryptocurrency
Blockchain is the future of digital currency and financial transactions. Cryptocurrencies like Bitcoin and Ethereum have gained immense popularity during the last couple of years. Cryptocurrency is an encrypted digital currency that uses blockchain technology, a public ledger system, for currency sale and trade.
Many financial institutions, banks, and businesses have already started trading cryptocurrency. Some eCommerce websites also accept cryptocurrency as a legitimate trade currency for online shopping.
6. Social Shopping
Social shopping is a term that refers to selling products through online stores or eCommerce business profiles on social media. With over 4.7 billion active users, social marketplaces and social shopping are rapidly becoming the primary choice for many customers.
Some AI-based eCommerce automation software now also includes intelligent tools to create social media posts automatically and choose the right text and images for these posts.
7. Big Data Analytics
Big data analytics help businesses gain meaningful information from piles of random data and provide insight into changing market trends and consumer behavior.
Various tools and techniques analyze customer reviews and feedback received daily from eCommerce websites and forecast demand and supply, production and procurement, and product pricing.
These reports help managers and decision-makers to plan business growth and expand their product lines.
8. Integration with Other Information Systems
The latest trends in eCommerce, ERP, CRM, and SCM systems now focus on multi-system integration. All these information systems are centrally connected to a single database through cloud services.
Software integration ensures a smooth flow of information from one information system to another. When a sale or a customer order is placed, the information systems instantly update the inventory, production information, sale order processing, and financial transactions recorded in the central database.
9. Enhanced Security Features
Security is one of the major concerns in eCommerce software and websites. ECommerce websites must encrypt customer information like credit card details, bank account information, personal details, and other sensitive data.
PCI DSS compliance in eCommerce websites ensures the minimum required security of sensitive information. ECommerce websites also employ SSL certifications to transmit data over the internet securely.
10. Voice Search
Voice search is increasingly becoming popular on eCommerce websites. Voice search allows users to input voice commands instead of typing text into a search bar.
Voice search uses AI-powered algorithms to identify speech, process the search query, and display relevant results. The voice search innovation in eCommerce websites allow customers maximum usability and ease of use.
11. Personalized Views
Personalized views boost the user’s overall experience with an eCommerce website. Personalized views refer to the custom display of web pages based on a customer’s individual preferences.
Ecommerce websites use return customers’ search record and orders history to sense a customer’s purchase inclinations and personalizes the landing page or home page accordingly. The purpose of personalized views is to maximize customer engagement and improve user experience.
Technology is changing, and so is our perception of the internet and web-based applications. By adopting the latest trends in eCommerce software, businesses can build a more extensive consumer base and ensure remarkable customer service and perpetual growth.