Digital Commerce Trends: Shaping Customer Experience for the Next Decade

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When it comes to building a competitive advantage in the increasingly saturated world of digital commerce, customer experience is going to be the difference-maker.

Digital commerce is riding the wave of new technology. Winning brands are innovating ways to leverage these technologies to provide their customers with frictionless experiences that drive brand loyalty and maximize profits.

Businesses are using technology to reduce costs through automation, maximize sales through machine learning and artificial intelligence, and increasing the speed at which digital commerce operates. All of these advancements are fueling expected customer experiences online. Customers are expecting fast deliveries, easy returns, and a host of other experiences that make online business easier and better than offline.

Four Trends Revolutionizing the Digital Customer Experience

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The Tech That Makes New Trends Possible


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Digital commerce will continue to evolve over the next decade, with advancements in every area of commerce. From product sourcing to supply chains and logistics, innovations continue to increase the speed at which we do business. None of those advancements, however, will make as big of an impact on brand growth as the technology that impacts the customer’s experience directly or indirectly.

The newer generation of consumers expect the Amazon experience from every brand, and sometimes they expect even more. Developing new ways to serve consumers is the fastest mechanism toward future gains in market share. And the technology that is already available is exciting!

Blockchain technology, for example, is already impacting the retail industry. Retail businesses using Blockchain appreciate supply chain visibility on their products. Retailers, like Walmart, implemented Blockchain to ensure food safety and quality. But it also helps track products and aids in preventing the purchase of counterfeit items.

Artificial intelligence and machine learning are also driving customer experience advancements in data-driven organizations. Consumers are already accustomed to ordering products by speaking to Amazon Alexa, for example. Alexa can hear the customer's request, and order supplies without the customer having to complete any additional steps.

Machine learning extracts real value from data and analytics for all kinds of exciting possibilities in commerce. Predictive analytics, for example, can automate customer segmentation, best or closest retail location, up-selling and cross-selling, demand forecasting, and dynamic pricing decisions.

 

The Future of Digital Commerce Is an Open Ecosystem

Thanks to cloud technology, digital partnerships are easier than at any point in history. Digital commerce over the next decade will revolve around each company’s ecosystem.

An ecosystem that is built on in-house servers (like most legacy point of sale systems) for example, is closed and isolated. But customers today expect and demand features that require integrations with 3rd party partnerships. On-premises systems that aren’t open and integrated with the digital commerce world cannot provide the experiences customers expect.

You can’t have a fully-featured, on-demand shipping feature, for example, if you don’t integrate with shipping suppliers’ systems. There’s no way to automatically supply shipping rates, and delivery times based on each customer's individual demands per each transaction.

Supply chain integrations for things like inventory predictions and stock availability are important for customers.

Amazon, for example, can tell you when an out-of-stock item will arrive at your door by predicting when it will arrive from suppliers, predicting the time it takes to package and ship, and their prime delivery windows based on integrations with shipping partners.

If a customer knows a certain product will arrive in time for their deadline, they may go ahead and order from Amazon even if that item is not currently in stock, rather than shopping at another provider that has their item of choice in stock.

This single feature uses several integrations to deliver an important upgrade to a customer’s experience.

The Future of Digital Commerce: Innovation, Strategic Design, and Customer Experience

 

It can be exciting to talk about cutting edge technologies, like blockchain and machine learning, but there is one critical truth that must be understood: technology alone is not a digital strategy.

The technology in itself doesn’t win with consumer experience simply because you used the newest technology.

The real question is, did you build the right thing, and did you build that thing right?

Digital commerce is about integrating with the world. Every company, big and small, is looking to integrate their systems with their partners. These integrations are what will drive innovations in customer experience over the next decade.

To leverage innovation in digital commerce requires equal part expertise and creativity, brainstorming new ways to make customer experiences great. It takes knowledge and meticulous design to ensure these new developments are engineered to open companies to new opportunities, rather than boxing them in with short-sighted development.

This is where Nisum’s strategic partnership helps drive real breakthroughs in digital commerce. We have the experience and creativity to bring new customer experience breakthroughs to the table, while also understanding what a flexible ecosystem looks like, and how to develop solutions that open up possibilities in the future.

 

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