And another month goes by and we’re already half way through 2019! It’s simply incredible how time flies when you’re having fun. Now that we’re about to enter into July, it’s time for a quick re-cap of all the e-commerce trends we experienced in June. This month brought some interesting retail developments, most particularly new uses of AI and AR to enhance the general shopping experience. Let’s go!
Trendservations in retail technology
Artificial Intelligence (AI)
One of the most exciting things that happened this month was eBay’s introduction of new features to its site. The massive shopping platform is implementing AI-based personalization features to enhance its customers’ shopping experience.
So far it’s clear that these features will actually be rather expansive. From promoting recently trending items to showing customers a personalized home page, eBay shoppers will have more flexibility than ever for finding the best deals in-store.
Ultimately, this move has been part of a larger campaign to stay competitive with Amazon. The two online retail mega giants have been at each other’s throats for some time, eBay having previously sued Amazon for driving away its customers. Generally, enhanced personalization features are a great move for any online shopping experience. The more you put the customer first, the more positive they will respond at checkout. What’s interesting is that these features aren’t unlike the personalization features that Episerver offers too!
Augmented Reality (AR)
Another one of our exciting trendservations in retail technology is Walmart’s recent use of AR. With last weekend’s release of Toy Story 4, the retail giant released 3D cartoon characters from the feature that could be seen with the Mardles app. Mardles is exclusive to Walmart shoppers, so only those who in-store with the app are able to see the Toy Story characters come to life!
Disney is projected to earn over $80 million in consumer product sales from Toy Story 4 alone. While Walmart will only get a cut of this, they’ll still earn a great deal. Definitely enough to compensate this investment in AR Toy Story Characters. I’m curious to see what other franchises they will do this with in the future.
Trendservations in retail prioritization
As an increasing number of goods are being purchased online, more warehouse space is needed to store them. This has created an amazing opportunity for warehouses and contractors everywhere.
The more goods purchased online, the more warehouses that need to be built. It’s an interesting way in which e-commerce has directly driven a sector of the construction market. And as more warehouses are built, more efficiency is needed to operate them effectively.
This is where retail technology comes into play. With a flexible and powerful e-commerce system, you can seamlessly manage orders that are coming in from your site. Best of all, you can see how your warehouse’s inventory is responding during the process. Only certain systems make it easy enough to see these changes in real-time, Episerver being one of them.
Retailers have been experiencing more pressure than ever to optimize their online shopping experiences across all channels. More customers are going online for product information before even stepping foot in the store. Retailers have made sure that their mobile store is the best it can be when it comes to satisfying customers.
It’s a good thing too, recently the numbers behind having a satisfying mobile store have been astonishing. In a recent survey, over 80% of customers said that they fully evaluate product information online before shopping in-store. Over 60% of this number especially compared prices of a certain product across stores!
With so much importance being placed on how customers view your store online, it’s no wonder that over 40% of all retailers are saying that improving customer personalization online is of the utmost priority.
Follow this year’s Trendservations with Luminos Labs
Is your business gearing up for a big shift in e-commerce strategy? Looking to stay on top of e-commerce industry trends to find out how to improve your future strategy? Luminos Labs is here to help. Our team of experts works 24/7 to provide you with the smoothest implementation and most reliable maintenance when it comes to your e-commerce platform and experience.
We’re always interested in doing the best for our clients, and we’ve helped many achieve increases in AOV, some by as much as 22%! If you’re looking for help with e-commerce implementation, Azure cloud services, or general digital strategy, please don’t hesitate to reach out.