How is Technology Driving the E-commerce Revolution?

What is the role of technology in driving e-commerce growth

How is Technology Driving the E-commerce Revolution?

Technology is a vital asset that is used across the business spectrum. It can be seen in every aspect of modern industry. For example, in the agricultural sector, drones are becoming increasingly utilized to monitor crop yields and even to spray large areas of land. In healthcare, MRI technology has become a vital piece of equipment in hospitals. It can accurately assess patients in a non-invasive manner, allowing effective treatment plans to be delivered. However, one industry in particular has a heavy reliance on technology. The e-commerce sector. Without the power of the internet and advanced business applications, e-commerce simply would not exist. In this article, there will be a discussion of some key pieces of technology that help e-commerce to grow and thrive. In addition, the importance of having access to highly skilled web developers in this field will be explored.

Chatbots in online customer service

A key role in e-commerce is effective communication with the customer. Site visitors may have a range of questions or queries that need to be answered before a purchase is made. In addition, they may occasionally experience difficulties when using your site and need to report issues. Increasingly, e-commerce firms are using advanced chatbots to help assist in the role of customer service. This technology uses artificial intelligence, a range of sophisticated algorithms, and language recognition software. Customers can communicate with chatbots, describing their problems, questions, or queries. The chatbot will then direct them to a specific website that answers their issues. In cases where the issue cannot be resolved effectively with pre-existing information (such as when a customer complains), the chatbot can escalate the information to a human customer service team. 

The need for expertise in web development

In any high-performing e-commerce site, a diverse range of plugins and applications are needed to run the site. Expert staff will need to monitor the online technology and create a rolling plan of action that will ensure the ongoing smooth performance of the website. Many e-commerce firms lack the highly skilled staff that are needed to ensure peak performance of the site’s operations. In such circumstances, there is a need to hire external staff who are skilled in web development and site optimization. Professional web development firms such as have years of experience in supporting the growth and high performance of e-commerce sites. These firms will consist of industry-specific experts who excel at coding, creating marketing strategies, and increasing online traffic volumes. Their expertise with the latest e-commerce platforms and technology makes them extremely valuable for a wide range of online firms that do not have suitably skilled in-house staff. 

AI in dynamic pricing

Finally, a key trend in e-commerce is the use of AI technology to facilitate dynamic pricing strategies. Simply put, this is where e-commerce sites are constantly monitoring their prices and changing them to outperform their nearest competitors in the marketplace. This can be vital when you are selling a popular product that is stocked by many different suppliers. The AI technology can analyze the prices at competitors’ websites, typically reducing the unit price of goods so that it is the lowest cost option. In an era where 81% of consumers conduct online research before making a purchase (and pay attention to the prices of goods), this strategy can be extremely effective in boosting sales figures.