How Digital Transformation Expands eCommerce Growth?

Online shopping is a new trend that is going to stay and thrive in the future. In this realm, e-commerce is benefiting from it and growing at a rapid rate. To help you glean insights on the need for this transformation strategy to be a part of an ecommerce operational plan, this post will be your guide to navigate across the different trends, and future opportunities that will decide its future.

When was the last time you shopped online?

Maybe a second ago!

Looking around, it is evident that people prefer scrolling on their mobile phones and ordering online right from metros, restaurants, offices, homes, and everywhere!

Whoa!

The time is gone when people had to wait for weekends to walk to the nearest shopping center to shop or wait for endless hours in queues to make the payment.

Today,  digital transformation has brought a convenient landscape for customers and businesses to get their preferred products in a jiffy of time.

However, despite its immense worth, there are a few anticipated hiccups that stop business owners from digitally transforming their businesses.

If you too are confused about how to proceed in the digital arena, then this blog read is curated for you!

Just scroll further and find out how and why digital transformation is MUST for your ecommerce business.

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Digital Transformation- is it a Buzzword?

No, it is not!

Yes, many of us think that the concept of digital transformation is more of a publicity or marketing stunt.

But actually, the real situation is different.

The DIGITAL is IN and is ready to take the world around us by storm. It has gained a  new level of importance and urgency in recent times. 

In light of the pandemic, businesses have accelerated their plans to digitize their operations, from remote work to online sales. 

And this will continue to meet the demands of increasingly tech-savvy consumers.

As predicted, digitally transformed businesses are expected to make up a significant portion of the global GDP by 2023, with an estimated contribution of $53.3 trillion. 

That is a HUGE number, giving an insight into the importance and impact of digitalization in the business world.

Understanding the Scope of Digital Transformation

Well, to be precise, the way consumers buy products and services has undergone a significant transformation. 

Online shopping has made an impact, and physical shops are not just an option for purchasing goods. 

With a click on a smartphone, products can be ordered and delivered at the doorstep- this oozes convenience in abundance.

This shift towards digital transformation and automation is occurring across industries, from banking and finance to manufacturing and healthcare.

As a result, enabling businesses to reduce costs, increase productivity, and improve the overall customer experience. 

Companies that are able to successfully implement these technologies into their processes are better positioned to compete in the modern business landscape. 

However, it is important to note that digital transformation and automation are not one-size-fits-all solutions and must be tailored to the unique needs of each company.

With this post, let us explore disruptions caused by digital transformation in the eCommerce sector.

What makes Digital Transformation the NEED of the hour?

Let’s evaluate the current situation- online shopping has become an increasingly popular choice to purchase goods and services. 

The utmost convenience it brings to the table cannot be defined in words.

In the wake of urbanization, where people have less time to roam and shop, online shopping is paving the smooth way.

It has brought the world to an axis point, where shopping can be done from anywhere and at anytime, regardless of zone and time barriers.

Considering the demanding situation of an interconnected world, it is a good choice for businesses to invest in digital transformation and provide their services quickly.

Factors that determine the digital transformation in eCommerce are:

Burgeoning Customer Demands

With technological advancements surpassing conventional methods, organizations must evolve to keep up with the ever-increasing demands and expectations of customers. 

Today, ecommerce sector is witnessing the rise of online shopping and virtual communication.

This builds a seamless bridge, meeting customers’ expectations for faster and more personalized service.

This gives businesses enough space to adopt newer technologies that meet these expectations and streamline their operations. 

Worth mentioning here, that, from automated chatbots to AI-powered recommendation engines, technology is the key to meeting the demands of today’s consumers.

Direct-to-Consumer

Indeed, the very concept of direct-to-consumer sales is emerging as a viable strategy. 

Today, retailers are switching to this trend and are encouraged to sell directly to customers.

There are multiple reasons to support this trend, as it allows brands to have better control over their image and messaging.

Further, enables them to build meaningful relationships with their customers.

And most importantly, it bypasses the process of reaching middlemen, consequently offering competitive pricing and gain competitive advantage in the market.

Rapid Delivery 

Customers look forward to rapid delivery, and the best examples are here from ecommerce giant Amazon, which offers one-day delivery.

This has put pressure on businesses to try innovative methods with a robust delivery system and supply chain. 

This is where digital transformation steps in, and enables organizations to improve their processes, streamline their operations, and optimize their supply chain management system.

Why should you care about digitally transforming your eCommerce Business?

Hmm, we all know about digital transformation and how its relevance has brought a significant change in the world we live in.

However, not many of us know that digital transformation is not just about adopting new technologies!

There is another side of the story too, suggesting how businesses can transform their operations from within.

This includes revisiting legacy processes and identifying gaps in the workflow that can be filled with technology solutions.

Businesses are able to achieve greater efficiencies and improve the overall customer experience. 

But the benefits do not stop here; there is much more that it has got to offer!

By leveraging digital transformation, businesses can experience reduced costs and increased revenue.

No prize for guessing, but failing to embrace this transformation will only allow businesses to lose their valuable customers to their more technologically-savvy competitors.

Let’s grab a closer look at some of the ways in which digital transformation is transforming the eCommerce industry:

Ways Digital Transformation is Transforming the eCommerce Industry

Data-Driven decisions with AR

The ubiquitous positive impact of AR is known to all!

However, when we see AR’s role in eCommerce then it is hard to ignore. 

It has become an increasingly popular technology among retailers and consumers alike, as it allows users to visualize a product in their intended space.

This uplifts the entire shopping experience and brings a new level of convenience and confidence.

Customers can easily anticipate how a piece of furniture fits in a room or how a new shade of lipstick looks on their faces.

As a whole, it leads to making more informed purchasing decisions. 

AI-powered Inventory Management 

Indeed, Artificial intelligence is a game changer in the retail industry!

It not just optimizes pricing strategies, but also provides businesses with valuable insights and efficiencies that help them stay competitive. 

When store managers apply AI to their operations, they simply boost the customer experience.

This is done by tailoring offerings to the specific demands and preferences of each location. 

They can keep a tab on every activity happening in and around their warehouses to succeed in today’s fast-paced market.

Contactless Shopping

It is no wonder that the eCommerce sector has redefined the way people shop!

This is also made possible with a contactless experience that aligns with the demands of users and offers better safety. 

As we all know, after the COVID-19 pandemic, the need for such experiences has become more significant than ever. 

The contactless payment options also give convenience while eliminating the need for physical contact, thus reducing the risk of transmission of any disease.

Personalized Recommendations

We all love it when personalized treatment is given to us!

And this equally applies to online shopping as well, where we shop to get the products that match our preferences.

With the integration of AI technology into eCommerce, businesses are able to drive a tailored approach to product shopping and send them personalized emails.

This enables them to have better customer relationships, which results in improved revenue and a loyal customer base.

Glean insights into Customer Behaviour

Having access to real-time data, eCommerce businesses have the capability to customize their strategies and meet customers’ demands efficiently. 

As a result, they can drive revenue and allow their customers to experience a seamless interface without facing any glitches.

Unique Trends in eCommerce Digital Transformation

To stay one step ahead of your competitors requires thorough planning and an in-depth analysis of what can be done better.

Here, by keeping up with the latest trends, you can click the deal.

But it is hard to anticipate which trend can help you scale ahead, considering the larger amount of trends erupting every day.

We have got you covered! Let’s dive in further to explore sizzling trends.

Automation

As we can see, eCommerce has revolutionized the way businesses operate and interact with their customers.

With the rise of automation, eCommerce has been able to expand its reach and influence across all its departments, from marketing to logistics and supply chain management. 

Automation has become an indispensable factor for the ecommerce sector because it streamlines operations, improves customer experiences, and leads to increased revenue for businesses. 

As eCommerce continues to evolve and grow, it is clear that automation will continue to grab the attention of ecommerce in the future as well.

Chatbots

Bots are extensively used by different industries worldwide, to give a smooth shopping experience to their users.

As we can see, there have been advancements in natural language processing that enable chatbots to mimic human conversations. It offers a seamless experience to customers, and enhances customer satisfaction while improving operational efficiency.

On the other side, they help reduce the need for human intervention in routine tasks, which allows businesses to expedite their processes and enhance productivity exponentially.

Undeniably, bot integration in the eCommerce solution streamlines customer service processes and shares a competitive edge in their respective markets.

Immersive Experience

As we all know, Augmented Reality is driving the technology world, and ecommerce is no exception. 

It is the future of eCommerce as it transforms the shopping experience into something more immersive and engaging. 

With this technology, customers can envision how a product will look or fit before making a purchase. 

At the same time, with a tint of personalized recommendations in the shopping experience adds value and improves customer satisfaction. 

Worth mentioning here, this also reduces the rate of product returns which can save time and frustration for both customers and retailers.

Social Commerce

As the name suggests, this trend is all about merging online shopping with social media marketplaces. 

It enables users to purchase products from anywhere in the world without leaving their homes with a simple click made on their smartphones. 

By adding security layers to payment options, retailers can ensure their buyers have a seamless and secure payment and shopping experience.

Buy-Now-Pay-Later (BNPL)

Well, this trend is basically nothing but a blessing for buyers, and has turned out to be one of the most popular payment options used by millennials today.

Leveraging this trend, buyers can experience a flexible and convenient way to shop; they can bifurcate the payment into easy-to-pay amounts without involving any interest charges.

BNPL also offers to split large purchases over an extended period of time with various discounts and benefits.

Progressive Web Applications (PWA)

Indeed, Progressive Web Applications, or PWAs, have been a game-changer!

And their worth in the sphere of ecommerce is beyond imagination.

As we all know, PWAs come packed with push notification features and redefine the way businesses interact with their customers.

In ecommerce segment, PWAs offline capability to access applications and adding them further on the on user’s home screen for quick and easy access can help in multiple ways.

As a result, it boosts user engagement and helps businesses to fuel their sales chart upward.

Steps to include digital transformation in your ecommerce business

After gaining a clear understanding of factors and trends, now is the time to dive deeper and find out the steps involved in including digital transformation in eCommerce.

Let us find out together and work on a strategy to help your business transform digitally.

Business Goals

Many businesses simply follow the race blindly, without knowing what they are planning to gain from it.

It is highly recommended that before making any strategic business decision, the company must identify its end goal. 

This could be anything from increased profitability to market expansion or even social impact. 

It enables companies to evaluate the various options available and determine which ones will best help them achieve that goal. 

As a result, your business will experience a more focused and intentional approach to decision-making.

Gain a clear understanding of User Requirements

Your end-users are the final judge of your services.

If they are not happy with services, then nothing beats the odds!

When we look closer, we realize that digital transformation is a complex process that requires a thorough assessment of the organizational structure. 

It means much before implementing the necessary changes, it is crucial to understand the customer’s requirements.

You need to understand what they need, what their preferences are, what the obstacles can be, and how your services will solve those challenges. 

You need to assess every aspect of their needs holistically and diligently evaluate each aspect of the process.

One tip here- don’t rush to be in the race, but go slow after assessing every right and wrong, from the middle, corner, and center.

Integrate Advanced Technology

You cannot think of moving further without integrating the right technology stack for your eCommerce business.

Assessing and validating the right option for technology is not a random choice, as there are a plethora of options available in the market.

Hence, you need to make smart choices that meet your specific requirements and end goals. 

Whether it’s speed, security, scalability, or customization, you need to weigh the pros and cons of each technology stack before making a final decision. 

What lies ahead in the Future?

The COVID period has shared a lesson with us, that online services in any form are not a choice but a necessity.

With the constant surge in online shopping, it is evident that eCommerce will continue thriving in every possible field.

However, to make this possible, businesses need to invest in emerging technologies and stay upgraded with the latest trends.

In the near future, consumers’ choices will be amplified and technology will satiate this demand with the right measures.

On the other hand, the dynamic nature of eCommerce calls for leveraging current trends and gaining insights into customer preferences.

Hence, to keep the game up, businesses need to walk along with the customer needs by infusing their offered services with tech trends.

You should not forget that businesses, in particular, are heavily impacted by the digital revolution, thus, it has become essential for them to adapt to stay competitive. 

This translates clearly that embracing this transformation is not just a necessity but a mandatory fact to bring a much-needed change in the way your business is accessed by your TG.

To help you understand it better, we have outlined a few but prominent e-commerce trends that are ready to set a revolution.

E-commerce Trends that can set Revolution

Big Data will Boom

Today’s consumers are super demanding and cannot afford to compromise on their shopping experience.

To meet these challenging scenarios, businesses rely heavily on data to glean insights about users’ preferences.

Here, big data algorithms are helping to meet their needs. 

These algorithms use data on a customer’s past shopping behaviors to generate recommendations for bespoke products and relevant offerings. 

Leveraging this set of information businesses can customize their offerings and engage their customers with better product choices.

Visualization with AR

Customer experience is the prime concern for any business, and retailers are finding new measures to engage their customers.

In this realm, one technology that is surmounting obstacles is AR!

AR has the potential to offer an incredible user experience, so users don’t have to toggle between trial and return.

They can visualize a product in a way that was not possible before, and see how the product will look in their house or their wardrobe before making a final call.

Mobile Shopping 

Mobile shopping is here to stay!

With technological advancement, consumers choice to shop online has become a ubiquitous reality. 

According to recent studies, retail mobile shopping, or eCommerce, is expected to reach $728.28 billion by 2025. 

As there is wider usage of mobile devices, eCommerce has become a popular way for people to shop online. 

This growth in eCommerce can be attributed to the convenience and accessibility it offers consumers.

Alternative payment methods with Blockchain

Payments for different services require technology integration for seamless money exchange.

In this case, including innovative payment options helps evolve consumer preferences and enable a seamless checkout experience.

There is a large pool of payment options that must be part of your ecommerce solution. You can consider the emerging technology Blockchain!

This payment offers a higher degree of security and transparency that appeal to consumers.

It gives users additional layers of security for their financial transactions online. 

Experience a revolutionary approach to digitally transforming your business with Hidden Brains

eCommerce is growing at a rapid rate, enabling businesses to handle more opportunities. However, to ace this journey, they require the assistance of a seasoned technology partner who can turn their vision into a reality.

As a leading eCommerce app development company, Hidden Brains is here to turn your dream concept into a sizzling end-product.

We have established a reputation for helping businesses accelerate their digital transformation journey. 

From designing seamless user experiences to integrating payment gateways and scaling websites for maximum performance, we have truly mastered the art of eCommerce development.

Our custom-built solutions cater to the specific needs of startups and leading brands alike, driving unparalleled growth and results. 

With a team of experienced developers and innovative thinkers, we have successfully delivered end-to-end eCommerce development services to clients across various industries. 

In the realm of digital transformation, exploring innovative avenues for eCommerce development is crucial, and Hidden Brains’ expertise in FMCG B2B eCommerce app development exemplifies how cutting-edge solutions can revolutionize the industry.

Discover more at https://www.hiddenbrains.com/fmcg-b2b-ecommerce-app-development.html

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