The present and future ecommerce media technologies

The ecommerce industry is experiencing some rapid changes to deliver the best customer experience. Companies continue to adapt to the latest ecommerce media technology trends. The global pandemic has especially brought a demand for latest technologies to cater online modern-day shopping experiences and scale better in disruptive environments. As ecommerce stores have shifted towards online in the wake of COVID, the need for a safe shopping experience is growing. The top Gartner trends in retail digital transformation 2021 include latest technologies i.e., machine learning in image/video, AR/VR, touchless shopping experiences, interactive product visualizations to be employed in ecommerce media technologies.

Smart social distancing has enhanced the urge for implementing the aforementioned technologies for real-time visibility with speed and accuracy. Brands experiencing a growth plateau can benefit hugely from the latest ecommerce trends discussed in the article.

The latest trends like machine learning, augmented reality, touchless shopping experiences have taken customer personalization to the next level. This article provides an analysis on how your ecommerce brands can benefit from the power of futuristic technologies. We’ll cover the following technologies: -

• ML/DL in Image/Video delivery
• Touchless Shopping Solutions
• AR/VR
• Interactive Product Visualizations

Use of ML/DL in Image/Video delivery

Technologies driven by artificial intelligence are taking over the ecommerce industry. Machine learning and Deep learning are one of the most powerful and sophisticated tools to identify trends based on data. Adapting to these technologies to deliver a high-quality customer experience is the new norm. The ability of algorithms to make sense of a vast plethora of customer data and visualize trends out of it, is the lead strength of machine learning.

Machine learning is making its mark in video streaming through content-aware encoding. The AI-enabled video encoder adjusts and optimizes the bitrate and picture quality of the video. Deep learning is employed to access the kind of content being streamed and then apply rules to narrow down the calculations i.e., the fast-paced sports match requires more bit rates than the children’s cartoons. Optimizing bit rates allows video streamers to significantly save a vast portion of bandwidth and budget.

In this era of big data, enhancing a customer’s image and video delivery employing the latest machine learning and deep learning algorithms is invaluable. It allows for better customer segmentation based on their interests. Marketing campaigns and retargeting can also be better directed based on real-time insights. In a nutshell, machine learning and deep learning techniques have completely revolutionized image and video delivery. Ecommerce stores are at a better end to benefit from these modern techniques.

Enter a new era of retail - Touchless Shopping Solutions

Touchless shopping experiences have completely revolutionized the ecommerce industry. Immersive customer experience brought by touchless shopping is the future of retail. Lockdowns in multiple countries have enforced a need to deploy a digital-first approach. This is an opportunity to create an entirely new experience using customer’s data, shopping profiles and artificial intelligence.

From makeup to clothing, customers from all retail facets continue to embrace the latest technological trends. As brands continue to adapt to the new norm, tech innovations like the ability to digitally try on products like multiple lipstick swatches on the arm are the future of the ecommerce industry. Consumers can “try out” products like cosmetics and clothes to find the best fit for them. The need for brick-and-mortar stores is diminishing when you can avail the best retail experiences from the comfort of your couch. Touchless retail solution is the futuristic trend that is surely going to outlast the Covid pandemic and will make shopping smarter, safer and more enjoyable than before.

AR/VR – a more enticing shopping experience

Augmented and virtual reality is one of the primal trends of ecommerce. The retail industry is experiencing a game-changing era. The gaps brought about by the pandemic are now being bridged by augmented and virtual reality technologies. As consumers are relying more on online shopping channels, augmented and virtual reality is assisting in bringing the ecommerce products to life by enhancing the customer experience. Virtual try-on solutions in clothing, makeup, accessories and eyeglasses enable shoppers to make sure that the product is the best fit for them. Preview placements allow customers a real-time glimpse of how the product, like a TV or couch, would look like in their living room.

Shopify has released statistics that products sold through AR/VR have a 94% higher conversion rate. Engagement between customers and ecommerce brands is heightened by delivering a unique shopping experience. AR/VR helps to combat customer return rates by allowing customers to make an informed purchase.

Famous brands like L’Oréal, ASOS, DFS are employing virtual and augmented reality techniques to boost sales and improve customer engagement. You can benefit from the power of AR/VR by creating promotional or instructional videos and sharing it on your store/website.

Interactive Product Visualizations

Visually rendering products to customers has been on the rise in the ecommerce industry. Ecommerce companies are heavily investing in interactive 3-D product visualizations to boost their ecommerce visualization strategy. The huge benefit stemming from 3D product visualizations is the rotation to every angle and side, which allows customers to analyse the products thoroughly.

The ability to ‘experience’ the product before actually buying it bestows an enriched experience. Empowering customers to interact with the product, to fully capture every nook and corner of the product, animate the moving parts, visualize the interiors, switch between colours instils a sense of ownership. Interactive product visualizations have hugely improved customer relationships by delivering ecommerce customization in real-time. Product owners benefit from a boost in sales and a significant drop in returns. Businesses investing in interactive product visualizations are at an advantage of order accuracy, enhanced customer satisfaction and competitive edge over rivals in the industry. Predicting customer churn rates has never been easier before. Ecommerce companies can benefit hugely from artificial intelligence algorithms and trends. As the retention market is invaluable to online ecommerce stores, the opportunity lies in profiting from the latest technologies.

Don’t miss out on an opportunity to invest in the latest ecommerce media technologies to build long-lasting relationships with the audience. Experimenting with products in your own space employing machine learning, augmented reality or interactive product visualizations is the new game-changing trend. Amazon is incorporating it into their sales along with other major ecommerce players.