STAGGERING STATISTICS ON HOW TECHNOLOGIES ARE ENHANCING THE
ONLINE SHOPPING AND E-COMMERCE BUSINESS. A Presentation by Salt City Digital
E-commerce and Online shopping have turned out to be a multi-billion dollar industry, which is expected to grow by 10 to 15% in the coming years. A forecast by BI (Business Intelligence) suggests that consumers in the US would spend around $632 billion in 2020 on online shopping. Let’s see some statistics on how various technologies are utilized by various e-commerce brands to boost their business and attract more customers:
CONVERSATIONAL ARTIFICIAL INTELLIGENCE (AI) IS TRANSFORMING SEO Several brands, merchants, and retailers are shifting the basis of their interaction with consumers by adopting conversational AI technology. The consumers would interact with devices to receive the desired services or product.
Amazon’s Alexa device is utilized by Lyft to let users book rides.
Domino’s would allow consumers to order a pizza using your voice and can even check their order status.
With Google Express ECommerce Platform, Walmart has simplified the voice-enabled orders for thousands of products. Soon, this concept will be executed by major brands; including, Walgreens, Costco, and Staples.
PHOTO SHOPPING AND SEARCHING Image search and voice searches are expected to make up 50% of all searches by 2020. Smartphones would be utilized to complete these searches.
ScreenShop, an application supported by Kim Kardashian, would allow users to shop for products they like on social media or on the street.
Pinterest has also invested heavily to turn consumers’ smartphones into a search engine for products.
The visual search tool launched by eBay would enable users to explore similar products with their own photos or any image from an online source.
DISRUPTION OF B2B E-COMMERCE No longer are B2B business an in-person or even voice meeting experience. Everything from sales calls to print catalogs are now completed on a digital platform, often with no personal interaction.
Amazon Business has 30,000 sellers and has received sales of $1 Billion in its first year.
Alibaba is the largest portal which connects Chinese manufacturers with Western businesses. Alibaba generates 80% of its sales in China itself.
The visual search tool launched by eBay would enable users to explore similar products with their own photos or any image from an online source.
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