Emerging technologies leveraging AI and the cloud are transforming the e-Commerce industry, enabling retailers and brands to get more insights from consumers, offer more personalized experiences, improve customer expectations, and have an omnichannel presence.
These were the conclusions in IBM’s “Consumers want it all” report, adding that retailers must understand how emerging technologies can improve online sales as e-Commerce apps move toward shoppertainment.
To avoid the mismatch of emerging technologies and the retail sector in Southeast Asia, IBM Consulting’s Charu Mahajan, Partner & Sector Leader for Consumer Goods, Retail, Travel & Transport said new technologies and applications that can boost online sales include cloud computing, mobile applications, augmented and virtual reality, personalization tools, blockchain, virtual assistants, and social commerce.
As consumers search and purchase goods online and on the go, retailers must be able to deliver seamless experiences such as an updated product catalog to AR/VR-enabled online trying rooms, real-time loyalty programs and digital payment gateways.
Mahajan said gathering data about customer trends will enable retailers to provision for surges during peak festival periods or events similar to Covid-19 lockdowns. He added that the computing power of the cloud addresses business dynamism, enables retailers to collect and analyze data, and provides valuable insights that can improve their sales.
Similarly, as more people browse mobile devices, having a mobile-friendly website is essential to delivery a superior customer experience.