January 11, 2023
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4
minute read

A Look Into the Future: What Will the E-commerce Industry Look Like in 10 Years?

The e-commerce industry has been around for 30 years now and has seen huge growth in the last 10 years thanks to advancements in technology and the internet. Thanks to its easier accessibility, e-commerce is part of our everyday lives. We use the internet to buy all sorts of things nowadays, from groceries to clothes to electronics. And it’s not just that; millions of people earn a living thanks to the e-commerce industry. So, where is this industry headed in the next 10 years? What new advancements are we going to see in e-commerce? What will the biggest influencers of the e-commerce industry be in the next 10 years?

 Customer Centricity

E-commerce is an extremely competitive industry. Every day it gets easier to start your own online business, which is a great advancement for the economy. But it comes at the cost of higher marketing costs for the entire industry, which means a reduced return on investment (ROI).

 

This means that as we move forward, there will be more and more e-commerce businesses following similar marketing strategies with very little opportunity to differentiate from their competitors. Soon enough, online shops and businesses will have to focus more on retaining their current customer base and appealing to their needs than investing in finding new ones. Therefore, the future of e-commerce will evolve to become more customer-centric, focusing on improving customer services and the customer experience to optimize retention.

 

Artificial Intelligence (AI)

AI has started transforming almost every industry, and the e-commerce industry is no different. Day by day, new AI tools are developed and introduced to the market. They help optimize data utilization, customer services, personalization, and so much more. Online shop owners have a wide variety of choices when it comes to what tool they want to use to help boost their business. And the best part? As competition among AI developers increases, their prices will become more and more affordable, which means we are going to see a much more AI-integrated ecommerce industry in the very near future.

 

Augmented Reality (AR)

One of the biggest problems with shopping online is that you don’t get to see what you buy until it arrives at your doorstep. What if I don’t like it? What if it doesn’t fit right? What if it’s the wrong color? These are questions shoppers normally ask themselves before purchasing a product online.

 

Augmented reality is a great solution for this problem. Augmented reality creates an in-person shopping experience that allows customers to see how a product might look on them or at their house. With AR, customers can click on a product and instantly see it overlaid wherever they point their mobile device. And when customers can view products from every conceivable angle in an interactive 360-degree experience, it gives them a better idea of the value that the product can offer. AR is only going to become more accessible and improve in quality as time goes on, which will most probably lead to its wide usage throughout the e-commerce industry.

 

Personalized Videos: The Future of Communication

A tactic that will surely give an advantage to e-commerce store owners is sending personalized video messages. It is a great way of retaining customers by making them feel valued. Adding an interesting subject line, offering discount codes, including testimonials, and reserving items for the customer are all good strategies, but much better strategies will present themselves as technology advances and we move forward.

 

With our platform's ability to create personalized videos at scale by spending the time and effort it takes to create just one. You can send your customers a video personally addressing them, perhaps offering a discount or letting them know that you will inform them if there is ever a discount on the items in their cart. You can make recommendations related to the items they have abandoned and offer free shipping. Our AI technology will do the hard work for you, allowing you to personalize your communication efforts even on a massive scale so that you can provide all of your customers with the care and attention they deserve.

 

Sign up for our platform today and get started for free!

 

To learn more about the other ways you can utilize BHuman.ai for your business, visit our site at BHuman.ai. You can also contact us at don@bhuman.ai, and we will be happy to inspire you in all the ways you can use BHuman.ai to improve your business efforts.