How Can E-Commerce Affect The Retail Industry?

How E-Commerce is level shifting the retail industry

We belong to a tech-savvy era where anything and everything has got a gentle touch of digitalization. Conventional ways have no more impact on current business scenarios and technology has taken over customer insights. Businesses have realized the real potential of what it is to have digitalization onboarded to their internal frameworks.

The retail industry has always been the evergreen and most promising industry that has always offered a handful of profits for entrepreneurs. It is also the industry that is highly prone to the latest advancements and adoptions of technology. A wide array of diversified experiments are actively been carried out in the domain and E-Commerce is the latest of all. The popularity of E-Commerce platforms has become increasingly adopted as we saw a sudden rise in the number of smartphone users. Mobile apps, which come along with smartphones are the key factor that played a major role in enhancing the popularity of the E-Commerce industry.

Retail and E-Commerce go hand-in-hand

The more the involvement of E-Commerce in a retail business, the higher will be its chances of being successful. In other words, we can say that E-Commerce and Retail businesses go hand in hand. E-Commerce gives relevant inputs to the retail industry that helps business owners scale like anything. When we speak about the retail industry, it includes brick-and-mortar style stores like Groceries, Apparel and accessories, Footwear, Personal and beauty care, Furniture, home décor, etc. The list of the retail industries is infinitely long as it covers a wide range of product catalogs. As E-Commerce has been introduced in the retail industry, business owners were given more power to sell consumer goods to a wide range of customers, thereby availing the chances of scaling their retail business exponentially. E-Commerce has turned out in being a blessing for the retail business as it offered a wide range of opportunities to make run a retail business profitably. E-Commerce has helped business owners in staying ahead of costs and enhance profit margins. The digital behavior possessed by the E-Commerce industry has prompted the customers in being regular users of e-commerce platforms. That being said, E-Commerce platforms come in different types. As websites, web apps, and mobile apps. Whatever it may be, it not only supports retail business owners in making their business a massive hit but also helps end consumers in meeting their requirements in a hassle-free manner. Top Retail E-Commerce development companies are offering extravagant products and services to their customers as a one-time purchase model or subscription model for the retail businesses to ace the competition. If we are having a detailed analysis of the retail industry over the year, we can witness a sudden jump in the industry right after the arrival of the E-Commerce industry. A wide range of technologies available in the market are leveraged to deliver groundbreaking E-Commerce applications in the retail industry. Some of these technologies are Artificial Intelligence, Machine Learning, Big Data, Deep Learning, Chatbot, Augmented Reality, Virtual Reality, Mixed Reality, IoT, etc. The contributions of these technologies have resulted in the rapid growth of E-Commerce in the retail industry.

Technologies to add more value to Retail E-Commerce

We have earlier discussed the adoption of various technologies like Artificial Intelligence, Machine Learning, etc. in the area of the Retail industry. Now let us see what their applications are

· Artificial Intelligence in Retail E-Commerce

Ever since its adoption in the industry of retail E-Commerce, Artificial Intelligence has taken away the key role of transforming the industry as a whole. The application of AI has helped businesses in availing impeccable services all around. AI has enhanced the entire operations right from scratch, enabling various ways of digital transformation. Various application of Artificial Intelligence has enhanced the speed, productivity, and pace of the retail industry. With its diversified and wide range of applications, Artificial Intelligence has backed the industry in being the top-notch one. Artificial Intelligence has enhanced the sales process by delivering the best recommendations to customers. This is done based on their previous purchase history. Thus Artificial Intelligence in retail acts as the best sales and marketing tool the help scale the business.

· Chatbot in Retail E-Commerce

Chatbots, also known to be chatterbots are the best ways to carry out interactive conversations with customers. Chatbots act like human agents and never ever make the end-user feels like they are conversing with a bot. AI-enabled bots can seamlessly figure out customer moods and can deliver precise and accurate answers to their queries.

· Augmented Reality in Retail E-Commerce

The best application of Augmented Reality delivers the best in-store-like experience to the end customers. The best real-world application of Augmented Reality in E-Commerce is the AR solution by IKEA where the customers can experience how the furniture will look once placed in their place.

· Blockchain in the Retail Industry

Blockchain Technology has got wide applications in the retail industry. It helps vendors and suppliers in streamlining their day-to-day operations. It also adds much amount of transparency to the entire process thereby making it trustworthy and authentic. With Blockchain Technology, customers can figure out the exact origin of the products they are purchasing.

DxMinds- the best retail e-commerce solution provider

DxMinds Innovation Labs is a leading retail e-commerce development company having corporate offices in UAE, India, the USA, Peru, and Australia. DxMinds offers diversified digital transformation across various parts of the globe. Team DxMinds meets and greets the latest E-Commerce requirement in the digital space and hosts a team of highly talented professionals. In-depth proficiency and out-of-the-box design thinking help DxMinds in being the best retail E-Commerce app development company. DxMinds has got relevant years of experience working with futuristic projects that are highly innovative. The founding team of DxMinds is in the industry for more than a decade and is parallel to the latest trends and happenings in the technology space. For more details on how the E-Commerce solutions built by DxMinds can take your business to the next level, drop a mail to info@dxminds.com

Which is the best retail e-commerce development company?

DxMinds Innovation Lab is the best E-Commerce development company. DxMinds is in parallel to the latest happenings in the tech space and is committed to implementing the same when it comes to delivering impeccable solutions to customers.

Which is better? E-Commerce website or an app?

Mobile apps are the best when it comes to comparing them with websites. As customers prefer more mobility these days, the chances of conversion rate are higher than that of a website. Also, apps are more user-friendly and nurture the buyer journey throughout. The increased number of smartphone users also has paved the way for E-Commerce apps to be everyone’s cup of tea.

How much does it cost to develop a retail E-Commerce mobile app? The cost is bounded to a large number of factors like the complexity of the app, technologies used, the location of the app, its size, security, and much more. However, on an average basis, it will cost you around USD 25,000 to USD 50,0000 to develop a retail E-Commerce mobile app.