The pandemic has put an end to the term ‘BAU’ (business as usual) and has become a launchpad for brands to aggressively adopt digitization. There is a technological disruption in almost all sectors and the online commerce segment is no exception.
FREMONT, CA: There has been a paradigm shift in the way brands communicate with consumers since the outbreak of the pandemic. The pandemic has brought an end to the name "BAU" (Business as Usual) and has served as a springboard for businesses to embrace digitization more aggressively. Almost every industry is experiencing technological disruption, and internet shopping is no different. Adopting technological innovation is no longer a choice, but rather a requirement. Brands have also recognised the strategic value of technology, and digital services have been hastened to match the ever-changing demands of consumers. Artificial Intelligence (AI), Augmented Reality (AR), and Virtual Reality (VR) are now being used by brands to improve the consumer experience, resulting in tailored encounters and providing real-world experiences in virtual formats.
Since these technologies are now getting more common among brands, it's vital to learn how to use them effectively. Customers' shopping patterns have shifted dramatically in recent years, due to developing technologies such as virtual reality and augmented reality. Customers are immersed in a virtual storefront that is almost identical to a physical store, where they may browse a variety of products and try them out before purchasing. Customers can use augmented reality to see how a product might look in their home before purchasing it. The brand and the consumer develop a good emotional bond through this multisensory contact. Such possibilities are increasingly becoming a major differentiator for brands in terms of providing an unrivalled customer experience, resulting in high customer retention, brand recall, and business success. Customers have recently begun communicating with brands in ways they have never done before. As a result, conversational help is critical for better customer service. This is a fantastic opportunity for D2C firms to use the power of online shopping platforms and AI solutions to build strong customer relationships. Chatbots and virtual assistants, for example, are AI tools that help brands engage customers based on their expectations. Customers may instantly explore products, place orders, make payments, and track orders via a chatbot-based interface.
In providing best-in-class, tailor-made purchasing experiences for consumers on numerous online shopping and e-commerce marketplaces, AI has proven to be a blessing in disguise. E-tailers may now study, follow, and analyse their customers' online behaviours regularly, as well as apply predictive analytics to properly forecast their future purchase decisions, resulting in greater recurrent purchasers and customer loyalty over time. Additionally, AI and automation enable firms to communicate personalised offers, product recommendations, and bargains with both new and existing customers. Advancements in emerging technologies such as artificial intelligence (AI), virtual reality (VR), and augmented reality (AR) have propelled the digital transformation of enterprises. Technological innovations have become the new normal, and businesses that invest in them can increase brand awareness by making their products and services visible to a worldwide audience. For both small and large enterprises, upgrading existing technological solutions and automating operations has shown to be quite profitable.
At the end of the day, how well and intuitively consumer companies use these technologies will determine the quality of the customer experience. The brands that can accomplish this effectively will be the ones to watch in the future.