The future of e-commerce will bring many new challenges for marketers. In order to succeed, they must learn to navigate the changing landscape and incorporate digital strategies into their marketing campaigns. One of the biggest challenges facing e-commerce is the rise of augmented reality, artificial intelligence, and mobile shopping. To address these problems, marketers must focus on creating personalized digital experiences that drive engagement and purchase. These strategies will also help them to deliver brand messaging and marketing goals.
Mobile shopping is vital revenue stream for online retailers
Despite the fact that in-store shopping continues to be a big part of the global economy, mobile shopping has become a vital revenue stream for online retailers. This technology allows consumers to make purchases from anywhere, and helps them make price comparisons. Moreover, it provides customized products and a more convenient experience.
The mobile shopping industry will grow rapidly over the next few years. According to Statista, the number of people using mobile devices to shop for goods and services will reach 2.87 billion by 2020. During the same period, the retail e-commerce market will expand to $5.4 trillion.
Mobile apps have also paved the way for better online experiences. Customers can find out about promotions, check their orders, and compare prices. In addition, some retailers offer free shipping on select items.
Using augmented reality in e-commerce allows customers to try on products and services before making a purchase. This increases the likelihood that a customer will purchase the right product for him or her.
It also increases engagement with a brand. As a result, a company can experience greater sales. Additionally, a more personalized shopping experience keeps customers returning. In addition, it can help reduce return rates and save millions of dollars in shipping costs.
The most common industries that use AR are the furniture, fashion, and accessories industries. However, there is a great deal of research that has not explored how the technology can be implemented in other retailing environments.
Studies have found that ASR can increase the number of products that consumers select. Researchers suggest that a self-brand connection may be a key factor in this phenomenon.
Artificial intelligence is changing the way consumers interact with retailers. By making intelligent predictions about customer behavior, AI helps eCommerce businesses to make better decisions. The right technology can provide the kind of experience that will drive customers to spend more and stay longer.
With the growth of online retail, many companies are looking to artificial intelligence to help with inventory management and preventive maintenance. In fact, more than 20 percent of all AI investment is going into online retail.
Using AI technologies, online stores can offer personalized product recommendations, which are proven to increase conversion rates. These recommendations can be based on previous purchases or trends in customer data.
Chatbots are getting more and more sophisticated, and they can do much more than just answer emails. They can also process orders, display item information, and even handle routine problems.