In the past, there were many challenges facing E-commerce but the rapid development of technology has led to its improvement. In recent times, technology has developed and assisted both buyers and sellers in carrying out activities smoothly. Buyers can now access goods and services despite the distance between the buyer and the seller through online technology. Even the sellers can now receive money wherever they are without even moving an inch. The improvement of technology has led to the improvement of E-commerce.
There are developments in web designing to help e-commerce businesses reach out to a wider audience. The rapid change of technology has made payment of both services and goods more efficient and fast. The discovery of new methods of payment like PayPal, Apple Pay, and Google pay has made it very simple for buyers and sellers to transact despite the distances. Nowadays, a buyer can send money from overseas to Africa in a fraction of a second without changing his location. This has helped E-commerce in conducting its business with no difficulties. Issues of trust were also a major issue in E-commerce in carrying out its businesses. This has now been solved after the invention of blockchain technology which gives one confidence that his money will be safe and not lost. These technologies have advanced E-commerce businesses.
This has led to decreasing the bridge between buyers and sellers. With the help of chatbots, a buyer can directly chat with the seller online. Here they can directly converse on commodities and even bargain on the price. The buyer can even request a photo of the commodity and the seller sends him the commodity to see. This process happens online without the buyer or the seller moving from one place to another. This advanced technology has helped E-commerce to conduct its businesses fast and has also helped save the cost of transport for buyers and sellers to meet. Some advanced chart bots offer the history of the products and even other recent buyers and their suggestions on the product too. This has helped the buyers to be sure of the products they are going to buy since they can view the suggestions of previous buyers.
In the past, it has been a very hard process to manage E-commerce. Management manually left room for many mistakes like excess stock, poor management of funds, and unsatisfied customers. After the coming of the inventory management system has made it very easy for one to manage and run E-commerce since it saves on time and does not give any room for human error. This has led to many managers knowing the number of goods they have at the time, the number of goods sold, the number of goods that need to be restocked, the cash flow, and the customer satisfaction.
Technology has made it possible for fast delivery. A well-known website such as Amazon has made it possible for one to be able to get his or her products to the nearest warehouse. Technology has helped one order his goods then give his location then the goods are shipped to where the customer is. This has made trading very easy in E-commerce. In case goods are shipped from overseas, technology has made it very easy. You order your goods, they are shipped through the air and brought to the nearest warehouse. From then they will be transported by road to your doorstep. We can generally say that technology has made the delivery of goods in E-commerce very easy since technology has made the world a global village.
In the past customers used to find it very hard to search for some products. The invention of artificial intelligence has helped many customers to be able to trace the actual product in just a few clicks. In the market there is a variety of products making it very difficult for a customer to trace the exact product. The help of IA has made it very easy for customers to buy many products of different kinds, from different shops in just a short time. It is through this kind of technology that customers are to do their shopping in a very short time. Some customers need certain features which only the IA can focus on and find.
This is another type of invention in technology used to improve E-commerce. It is known as augmented and virtual reality. This gives room for the customers to debate on how they want the product they want it to look like. This has worked in many industries and has helped them improve their products. Many people have different opinions on what they would like or wish their products to look like. When many people combine their minds they end up with a perfect product that will sell so much in the interest of the consumer. A company such as Audi used it in the invention of their car. They let the customer customize the reality of his car and in the end, he is made a car from his description. In the end, Audi has sold so many of its cars because they took a keen interest in the customers’ preferences and tastes.
We can conclude that technology has played a big role in making E-commerce a better place to conduct business. Technology has made it very simple for buyers and sellers to communicate easily despite the distance. We can also see that technology has made the world seem to be like a global village since you can buy goods from anywhere in the world and be able to reach you in no time. Technology has also made the management of E-commerce seem easy through the invention of an inventory management system that makes sure that all the sales, stock, and also cash flow are in order. Technology has also given customers a say to give their opinion on the product and take part in production though indirectly.
This article was written by Olivia Morris and originally appeared on Your Coffee Break.