As technology advances, customer demands for the latest tech increase too. For businesses, keeping up with the latest tech trends ensures that you can give your customers what they want. It also help retain a competitive edge and embrace the fast-paced changes to stay relevant in the industry. If your business does not keep up with the changing technology, you face the risk of being left behind.
Here are a few ways in which you can keep your business up to date with the latest technology:
It is essential to offer you’re your customers with products and services built with the latest technology. Innovating and improving products and services with the latest technology prepares your business for the future. Web technology, Mobile applications and new features such as AI, VR and AR can dramatically add value to customer experiences.
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Technology update is not a one-time thing. It keeps evolving. New trends are constantly around the corner. Having all this information gives you an insight into what you should include in your business growth strategies. Following latest trends will ensure that you are ready for what the future may bring in terms of technology.
With competition getting fiercer, it is getting more and more important to understand what technology are others in a similar business using. This will ensure that you and offering similar or better services to your customers with advanced technology solutions. Checking out the competitors will help you strategize better about your tech strategy.
Keeping your business updated with the latest technology is beneficial in many ways. It enables businesses to offer better services to their customers and stay relevant in a fiercely competitive business world. Latest technology will ensure that your business is future ready.
As smartphones become more accessible and high-speed internet is no longer a premium infrastructure in many countries, users are now directly connected to the internet. This easy access to the internet has given a boost to mobile shopping. Many brands are hence embracing mobile commerce on top of the eCommerce platforms. Shopping apps with easy to browse catalogs are becoming more and more popular.
The emergence of mobile commerce changes how brick and mortar businesses operate. It’s important to note that mobile commerce growth is steadily increasing hitting an estimated $284 billion or 45% of eCommerce at the end of 2021. The mobile payments market is also catching on. This means that the likelihood of people making mobile purchases on their smartphones is also huge.
The sheer number of mobile users is reason enough to motivate businesses to embrace eCommerce and introducing mobile shopping as a part of their sales strategy.
Use experience is one of the main reasons for increased conversions. Various technologies can be used like AR that makes shopping experiences more immersive and interesting.
With the aid of a chatbot and messenger app, business owners can support their customers even outside business hours. Customer support bots have grown in intelligence and intuitiveness making these bots more efficient in dealing with common queries.
Customers have a number of payment methods when it comes to M-commerce. Whether it is a conventional credit card or PayPal, it can be integrated into the mobile store.
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With the entire world owning some or the other kind of mobile devices, businesses cannot afford to not have a mobile strategy. Mobile shopping is definitely becoming popular by the day and most businesses are reaping the benefits from going mobile!
When the whole world literally came to a halt in 2020, but rather than causing any destruction in the retail world – it provided a boost to this industry in the online world. The entire volume of retail growth reallocated to the E-Commerce channels, which enjoyed an 18% bump in total growth. This growth cannot be accredited solely to the pandemic. The world has seen steady progress towards the online for well over a decade. In the aftermath of a year filled with social distancing and quarantines, the retail industry looks to emerge as a changed entity. Let’s look at what the future holds for the E-Commerce industry:
Voice commerce uses voice assistants such as Alexa or Siri to give shoppers a hands-free shopping experience. In a world of contactless and social distancing, voice shopping will be a great addition to E-Commerce.
Voice commerce has enjoyed success in the E-Commerce industry. However, COVID-19 has disproportionately affected the older demographics, as they are required to adhere to strict quarantine measures. But they still need groceries and essential items. This will encourage the use of E-Commerce solutions and hence the use of voice commerce.
E-Commerce has undoubtedly been a life raft for many who were stuck at home. It’s probably been the only surviving tool. Although it is very convenient and quick, – at its core it is a very impersonal experience. E-Commerce and voice commerce will find its applications for enhancing online shopping experiences.
E-Commerce has become a significant retail channel. Technology does not stay static for long. Modern devices with advanced capabilities will enable a lot more AR functions. AR is one of the technologies that will be a game-changer for the E-Commerce industry in 2022.
Predictions cannot be 100% accurate, but it’s true that 2022 with set the stage for new and advanced features that will take E-Commerce experiences to the next level.
Today, it’s hard to imagine shopping without the help of ratings and reviews about the products and services. According to consumer research conducted by Deloitte and Touche LLP, the majority of shoppers (around 75%) use reviews to discover and evaluate products. From food and beverage and apparel, to health and beauty, reviews play an important role in the buying process for customers.
Shoppers today not only view ratings before they make a purchase, but also leave a review after they have purchased and used a product. Studies show that the number of reviews submitted increased nearly 11% year over year since 2019. With reviews, shoppers are not only converting faster, but are known to spend more money too. This lift in revenues per visitor has seen a steep rise in recent years. But, increasing sales and profits aren’t the only thing that reviews can improve for your business. Brand retailers have reported that reviews have an impact beyond the product pages online. Many times a good review directly converts into increased in-store sales too.
A vast majority of shoppers research products online before going to the store to purchase them. Consumers often turn to ratings and reviews when they are in the decision making phase of the final purchase. Reading a positive review from an existing customer gives them the confidence that the product they chose is working well for others too. Studies have also shown that reviews have the ability to influence consumers to buy a more expensive product than they had planned.
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You may be surprised to find that it’s not only the positive reviews that influence purchases. Many shoppers say that negative reviews are just as important in their decision to buy. It helps them build a pros and cons list (mentally, subconsciously) and the final decision to buy a product is based on complete information. This increases their confidence in their purchase and your product.
Having reviews displayed on your site is a great first step to winning over your customers. It improves one of the most valuable assets a business can have in today’s retail landscape – trustworthiness.
In today’s world, technology transformation is inevitable. But while we keep our businesses up to date with the latest technology and the latest trends in the market, we should also ensure that we plan ahead for the future too. Bullet-proof your business with the right scalable and flexible technology.
Technology keeps evolving and businesses need to plan ahead. With the latest technology today, it will be easier to scale in the future and adopt something more futuristic. Adopting AI and ML based mobile applications today will make it easier to step into the future.
No matter how great your forecasting model is, future is unpredictable. It’s important for businesses to invest in technology that can help adapt to the future developments in IT. For example, invest in scalable bandwidth and develop mobile applications with the latest technology.
The world of technology is constantly changing and businesses need to be able to adapt. Make sure that your hardware and software are up to date with the latest trends. It ensures that your business is set up for success.
With technology your business will be well equipped to handle any future circumstances. It’s a good idea to frequently review your processes and implement technology solutions to streamline the operations.
Customers keep a business alive. It is essential for businesses to analyse what technology the customer uses the most and ensure that they get the right information at the right time in the purchase process. This establishes good customer experiences for your business.
You can also read: Keep Up-to-Date your Business with Latest Technology
In order to bullet proof your business for the future, you need to ensure that you use the right technology for the right processes – a mix of mobile applications, eCommerce, web interfaces and more. These will ensure that you are ready!
One of the biggest decisions you will make for your business is the choice of the eCommerce platform that is scalable and will ensure long term growth. The platform should also help customers that are engaging with your brand to reduce friction while they’re getting the product they need. Ensuring employees have what they need to implement campaign strategies and at the same time be ready to use without add on cost for maintenance and installation.
Whether you are a brick and mortar store with a strong local presence or are looking for an enterprise eCommerce solution, building one from scratch is out of the question! The time frame and the cost is simply too high for such an endeavour.
The good news is that there are a number of ready to use eCommerce solutions such as Lokaly that enable you to go online instantly. These solutions are highly customisable too. Being white labelled, you need not worry about how it will ‘look’ for your brand.
Lokaly is ready to use, white labelled eCommerce solution. It enables local stores to quickly go online by quickly upload the products and begin selling.
Lokaly can be completely customised to suit your business requirements. It’s the easiest and fastest way to reach your customers where they are – online. It not only helps you keep up with the latest in the online world, but also helps keep in compliance with the latest no contact delivery policies for the covid 19 rules. With customisations, you can make the app look, feel and serve your customers as your business requirements.
Developing an excellent product and a great sales strategy is only half the battle won for a business. Providing good customer support after you have sold a product is also important. Shopping is not merely a transaction – the entire experience counts. By providing excellent customer support you can offer your customers better experiences while shopping with your brand. Shoppers that ‘feel good’ while making a purchase, will definitely be back for more.
Customer support empowers customers through the entire purchasing process and post purchase experiences. It helps you better assist customers who are interested in purchasing your product by offering quick and accurate answers. Next, it is also useful during the purchasing process. You can provide customers with orders, errors while placing orders, or provide better package tracking details. Lastly, you can offer customers with support if they face any issues post purchase. You can make cancellations and returns easy to process or offer the ability to exchange faulty products.
A good product or service can only get you so far. If you add good customer support to the equation, the value of your offering as well as your brand instantly increases. It also has the potential to reduce negative reviews. This added value translates to increased revenue and customer retention.
With customer support, businesses can offer a lot more than sales transactions. You can give them a reason to love your products and your business!
Ever since the world has been locked down, there has been a surge of businesses moving from physical stores to a completely online model of operation. The result? The competition has moved completely online. Every neighbourhood store and the local departmental store is finding ways and means to move online. The result? Many solution providers are trying to offer technology services that enable them to offer services online – as seamlessly as walking into a store, making a purchase, and walking out.
So, how do you set up a B2B online store?
There are a number of solutions available in the market – to go online. But if you are a B2B business, or a multi-brand, multi-store business, you need platforms that can specifically cater to your requirements. Some of the solutions like Lokaly can even help you set up at no cost. Ready solutions require very less time to go live.
How can Lokaly help set up your B2B online store?
Lokaly is your technology solution if you are dominating a locality in your geography, are a distributor or wholesaler for large product offerings, or are a multi-brand or multi-store business. You can offer digital access to your clients and customers via Lokaly.
Lokaly offers businesses with a quick and easy way to get online and ensure that their business stays ahead in this fiercely competitive world!
Customers who once flocked to brick and mortar stores are now crowding online. Shops and departmental stores are ditched and smartphones have been embraced. Even bank payments are replaced with digital wallets. The rapidly changing digitization and customer behaviour patterns, shopping trends have changed too. Customers are bidding farewell to traditional shopping ways and more and more online platforms have emerged. Let’s take a look at the must have features in an online solution for e-commerce:
Top e-commerce platforms offer businesses with lots of conveniences, ease to use, and quick to setup features!
Lokaly solution offers all these features that can provide your customers with an unmatched experience and easy to manage from the perspective of the owners.
