The eCommerce business model started with technology itself. This business model has no meaning without technology. Today it is due to new technology that the eCommerce business is continuously growing in UK and all over the world.
According to IBEF statistics, the e-commerce business from UK alone has been predicted to grow to 74.8 billion US dollars by the end of 2022 with a growth of about 22%. These statistics cannot be ignored at all.
As per these statistics, it has been clearly seen that the e-commerce business is quite a big and potential market all over the world. At this time when technology is growing at its fastest speed, how will it not contribute to such a big industry?
So, let us know what is the role of technology in such a big market and how technology is helping to grow this eCommerce industry.
AI is one of the most advanced emerging technology, which is used in almost every field today. The eCommerce business is also no exception to this. Today AI is used to make eCommerce businesses faster and performance-based. The reason is very simple the work which takes hours and sometimes days for a man to do, AI is absolutely capable of doing them in a few minutes.
Technology plays a vital role to personalise the user experience and interface which eventually alleviates the e-commerce business owner to grow their business. The cruciality of a personalized user interface and experience can be denied by anyone who has ever been part of an e-commerce business. With the advantage of AI, you can show different interfaces to different customers.
Only Online and e-commerce businesses have this advantage to gather all the statistics and data of the business. One can collect and analyze every single data of their website easily with the help of the most advanced technologies. You can track every customer’s activity and behavior along with their age, interest, payment options, contact information, preference, and many more.
One of the biggest differences between offline and online businesses is that you cannot automate offline business even if you want. But today it has become absolutely possible to automate your business with the help of new and advanced technologies in the eCommerce business. Many people are also enjoying business automation by using these technologies.