Future of Commerce

Commerce today keeps evolving, taking advantage of similarly quick advances in technology that support new ways ​of buying and selling, and make it easier than ever for merchants to connect with customers via an online store. Here ​are some of the trends that are guiding the future of commerce.

1.Cryptocurrency and blockchain

Cryptocurrency is “a digital money, created from code” or “an encrypted string of data or a hash, encoded to ​signify one unit of currency.” It’s the first decentralized currency not controlled by a particular organization or ​government, and is instead monitored by a peer-to-peer internet protocol. Blockchain technology prevents ​counterfeiting and senders reversing payments. Third party services like OKEx help create and maintain users’ ​bitcoin wallets, while easily converting BTC to INR, USD or other fiat currency. Many ecommerce platforms, ​including BigCommerce, Shopify, and WooCommerce, offer integrations that allow payment with cryptocurrency.

2. Personalisation

Today, the market is full of opportunities to provide personalized service for every customer, no matter how ​difficult their needs are. This personalization is only going to increase in the future. 80% of shoppers say that ​they prefer to purchase from merchants who offer personalized online experiences.

3. Automation

Goods and services have progressively gotten more and more automated. This allows e-commerce shops to ​automate rote tasks and spend more time devoted to the high level activities that help grow their business.

4. Faster everything

Amazon has made 2-day delivery a standard. Improving web technologies has made shopping easier than ever, ​even from a mobile device, with faster page load times and easy payment options. Speed isn’t just an advantage ​anymore it’s becoming table stakes.