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Mobile gadgets will dominate eCommerce.
This trend is supported by the increase in sales: in particular, in 2023, revenue from global retail sales through smartphones rose to 3.57 trillion dollars, compared with a “modest” 2.91 trillion dollars a year earlier. This is not surprising given that there are already 5.3 billion smartphone users worldwide, which is the vast majority of the world’s population.
An electronic wallet will become a necessity for everyone
The ability to use a “mobile wallet” to pay for purchases has already become mandatory and is not up for discussion. In favor of this service speaks the language of numbers: over the past 4 years, the total amount of digital payments has more than doubled, from 3 trillion to 6.6 trillion dollars.
Subscription to eCommerce services will become popular
Subscriptions are becoming an increasingly common way to buy goods and services online. The subscription-based eCommerce market is projected to grow nearly 70% by 2025 and reach $478 billion in revenue
There are a total of 3 types of eCommerce subscription services
- Single Access – subscriptions are required for services or products that simply can’t be obtained without a subscription.
- Optional extras – In free membership models, subscriptions give customers access to additional features not available to regular platform users.
- Discounted shipping – a subscription entitles you to free shipping. The term of the grace period varies and depends on the size of the subscription fee.
- Selecting and using one of these subscription models will accelerate business development.
Personalization of the product to the customer will increase
Consumers are increasingly demanding a personalized product. Brands are now easily achieving this through manufacturing and digital technologies that allow for customization and personalization of the product as early as the online offering stage. By allowing customers to participate in the process of creating the finished product, brands are improving the customer experience and increasing customer loyalty, which has a direct impact on revenue growth.
Increased sales based on personalized recommendations
Personalizing product recommendations according to the tastes and interests of customers who are already on your site increases the likelihood that they will make a purchase. Marketers have long recognized the importance of personalization for shoppers. Specifically, 92% of them said their customers expect a personalized experience and showed notable results from their personalization efforts. At the same time, 97% of marketers surveyed highlighted the positive impact on their brand after personalizing the user experience for potential customers.
The proliferation of augmented and virtual reality in sales
Augmented (AR) and virtual (VR) reality are helping online retailers overcome one of the biggest challenges – the fact that customers can’t try on or check out products before purchasing them. Thanks to AR and VR technology, customers can virtually explore products, such as “placing” furniture in the rooms of their home and more.
Relevant content becomes a major business driver
Relevant and useful content helps drive business by attracting potential customers, encouraging them to buy and increasing conversion rates. There are several types of content that can be effectively mixed and matched. They include interactive lifestyle, product and contact stories.
PWAs to simplify the shopping process will become popular
Progressive Web Apps (PWAs) are sites that are accessed in a browser, giving the native app a highly conversational experience. Although websites are optimized for users to get content, PWAs are specifically designed to help customers shop. Their immediate goal is to provide users with an engaging shopping experience.
What does the future hold for e-commerce?
To summarize, the future development of e-Commerce will be determined by the technologies already implemented in the industry, which will only gain momentum in the coming years. Although not all technologies have yet become mainstream, the general trends are already more than clear. In particular, the emphasis in modern online commerce is on mobility, the ease and individuality of making purchases. The user strives to make purchases from anywhere in the world at any time of day and night, and to do so quickly, effortlessly and interestingly. And modern e-commerce has every opportunity to provide this, since demand determines supply. And the right and timely offer to customers ensures that businesses will not fall by the wayside in our highly competitive times. In short, in the coming years, online commerce will never tire of surprising us, becoming ever closer to every customer, guessing their preferences at the word of mouth, and offering new goods and services instantly.
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AR-technologies: combining real and virtual worlds
Augmented Reality (AR) is an environment that augments the world around us in real time. It is created by projecting digital information (text, images, graphics, video) onto the screen of various devices. This adds artificial elements and new information to the real world. This is done using devices such as tablets or smartphones. Of course, software is also required.
Specialists from Filio Force Inc. talked about the development and application of AR technologies.
Complex site promotion = project development
Every business owner focuses their resources on making their business thrive, increasing sales and growing profits. If you are an e-commerce business, you have a website that is the storefront for your shop or service. Naturally, you want your product pages, services or articles to rank highly in search engine results. Therefore, your website needs comprehensive promotion. The main aspects of this are described by the specialists at Filio Force Inc.
PHP and Laravel. What it is and how it is used
Filio Force Inc. specialists use various modern IT technologies in their work. Today we will look at the programming language.
Machine learning. How it helps in life and business
Machine learning is a branch of artificial intelligence that focuses on creating systems that learn and evolve based on the data they receive. Self-driving cars and voice assistants on smartphones are technologies based on machine learning. Self-driving cars use computer vision technology. Voice assistants use speech and sound recognition technology.
SaaS Solutions. Benefits for users and developers
Software as a Service (SaaS) is a subscription-based software licensing model. The provider develops and maintains applications, programs, places them in the cloud and makes them available to the user. The customer pays for access and receives an out-of-the-box tool.
Business Process Automation: Key Aspects
Almost every company in the modern economy is involved in business process automation in one way or another. The introduction of scripts, intelligent robots, CRM systems, etc. provides opportunities for business development, increasing profits and reducing costs.
What PWA can do for your business
If your company is not present in the digital world, consider that no one knows about it. Nowadays, people look for almost all the information they need on the Internet. Therefore, if you want your business to be successful, you must have an online presence. This requires a website and preferably a mobile application that your customers can install on their smartphones. However, not all businesses can afford to develop both a website and an app. The solution is PWAs.
Progressive Web Applications (PWAs) are applications built using web technologies that can be installed and run on all devices from a single code base. This is the definition provided by Microsoft.
Code quality: automation of verification and tools
Good code is clean code. Code quality affects the quality of software, its safety, security, and reliability. It is also a parameter determining the level and professionalism of developers.
The important stage in the process of development of any software is code checking. To do it manually is labour-intensive, troublesome, long and, as the result, expensive. Automation of the processes makes life of engineers easier and raises the efficiency of the development process itself. A serious verification system is able to generate test logic and run tests by itself to identify errors.
Cybersecurity. Can you be hacked with ChatGPT?
ChatGPT is an artificial intelligence (AI)-based model. It learns from massive amounts of data and uses contextual data to improve the quality of its responses. Why is ChatGPT so controversial? On the one hand, the chatbot is a useful online security tool, but at the same time, hackers and cybercriminals are already interested in it.
What is a PaaS platform?
PaaS – Platform-as-a-service. You don’t need to create your own solutions and tools to develop and use complex systems. You can use PaaS, which has everything you need. In the past, developers had to pick and buy a lot of different tools from different vendors. You had to maintain and integrate them, and they needed constant oversight. As the digital product develops, the number of tools used increases, and auxiliary solutions appear. As a result, everything becomes complex, and business processes become cumbersome and unmanageable.
ERP system implementation
ERP system or production resource planning system is a software that helps to keep records, plan and distribute all tangible and intangible resources of the company – finance, inventory, raw material stocks and even personnel. Thanks to a competent integrated approach it is possible to increase the productivity of the enterprise, reduce costs, reduce downtime, increase efficiency and, accordingly, profits. This is why such solutions are extremely popular. Implementation of ERP in production requires a careful and thoughtful approach, thorough preparation and readiness for changes on the part of both company management and all its employees.