Augmented Reality Coming Closer To Mainstream E-Commerce28th May 2019
Augmented Reality And Other Technologies Coming Closer To Mainstream Ecommerce
Augmented reality is the next big thing in the mainstream e-commerce and in fact across all businesses that uses the internet and social media for their marketing and promotion of products. It is being developed continuously and the modern features of AR are nothing less than impossible imaginative wonders.
Until very recently, augmented reality technologies were truly nascent and were largely considered to be technological novelties. For example the Snapchat filters, Google Glass and the likes that once promised for a glittering future. However, this year you can expect to see the very same augmented reality technology to take a giant stride forward and become the mainstream adoption especially in the e-commerce business sector which is leading all the way.
- In keeping with this latest trend, most of the e-commerce retailers have been investing a lot of time, effort and money in refining their augmented reality offerings for some time now. The results of such investment have proved to be striking and very high yielding.
- Improved augmented reality has changed the way in which customers now look at the products they wish to buy. They not only look at the product as it is in real life but are also able to see the products now put to real use.
- The new and improved augmented reality technology is now no more buggy as before and the modern versions of the apps are now more effective irrespective of any limitations due to its newer and better iterations. The modern apps are reportedly much more intuitive and stable.
With all these improved features and increased effectiveness of augmented reality technology, more and more players in the e-commerce space are now vying for a piece of the AR pie.
Take a look at the AR View app of Amazon, one of the largest e-commerce players in this sector and you will see the difference in offering similar functionality but in a much better way than the others. Here, you will be able to see how all of their products would look in your home without even having to commit to make a purchase prior to that.
Adding more effectiveness to the augmented reality as well as the functionality of the e-commerce sites and stores, you can also expect to see a significant and explosive growth in mobile use this year for making any transaction or even for checking out the different debt relief options provided by libertylending or any other similar sites for that specific matter.
If you go through different websites that lists the anticipated trends in e-commerce this year you will see one thing in common: no list is complete without the inclusion of the mention of the continued meteoric rise of mobile. This is because:
- Mobile has become almost obligatory especially when it comes to checkout and payment systems.
- It is also due to the continuous rise of the launch and use of several mobile devices that can be connected to the internet.
It is for this reason most e-commerce payers are also focusing on mobile checkout to increase their business prospects.
When it comes to mobile payment, it has been one of the most significant factors that determine the way in which people shop. It is since the introduction of e-commerce itself, this mobile payment feature has been one of the most significant areas that have witnessed some of the most dramatic changes.
- There has been a steady and significant growth of the mobile payment market on a year to year basis since 2015 and
- There are at least ten different mobile payment platforms currently available including some of the mainstays such as Google Pay and Apple Pay.
To provide the customers with easier and better platforms to make payments through their mobile there has been a recent announcement for a merger of Google Wallet and Android Pay. This is in addition to the proprietary offerings from different traditional banks. Of course, how can you forget the new additions of cryptocurrency and Bitcoin, two of the most common forms that are gaining popularity exponentially with each passing day?
Therefore, with so many different and safer mobile payment options available now, expect e-commerce industry to move farther and farther away from cash. That means it is inevitable that you will see more and continual adoption of mobile payment systems and development of the same throughout this year and even beyond.
However, the usefulness and necessity of the mobile payment options does not take away the fact that there are significant challenges to overcome in this specific payments space. According to a recent research report published by researchers at the University of East Anglia in England, it is said that:
- Mobile payments accounted for more than 46% of all e-commerce transactions
- The mobile conversion rates still lag behind the desktop conversion rates significantly when compared.
These two polar different facts point towards two different things such as:
- The lagging behind in conversion rates through mobile may be due to consumer consternation regarding mobile shopping and
- The e-commerce retailers still need to do a lot more to influence the hearts and minds of the consumers to build more trust and confidence in them to make them their prospective clients.
Then comes IoT
Another significant trend that is closely related to e-commerce is the Internet of Things or IoT. This trend will gain even superior traction in 2019 which is much to the contrary to the natural instinct. You can expect several e-commerce companies to have locked horns in a desperate battle to claim the title for the ‘Most Ridiculous Connected Device.’
It is not far away when you will see “smart” products right from toasters to condoms, bathroom fixtures to luggage, appliances to groceries and even medicines.
Apart from serving as a reminder, this trend can connect to the point-of-sale system as well as to a doomed and kind of dreary dystopian future, but that is a different story altogether. For now expect to see a fierce competition in e-commerce space which is expected to intensify even more by the end of 2019.