Technology Trends and Their Impact on the E-commerce Industry

Abstract

E-commerce allows people to buy and sell goods and services anytime and from anywhere they choose. Consumers are shifting from traditional retail toward online buying due to the reduced prices and faster response from online shopping firms/organizations. The study investigated the development of modern technology i.e. E-commerce which has changed the perceptions and buying behavior of customers. Online media is affected by the enormous amount of data that technology collects from consumer interactions with E-commerce platforms. They may register their preferences, giving them the power to manage product availability and validity while quickening the sale-purchase process. How customers see online payments and purchases has significantly changed as a result of technology use in daily life. The study used the quantitative approach to determine how the latest technology trends have impacted the E-commerce industry. The research instrument was online surveys since they are quick and convenient in collecting the responses. The dignity of the respondents was respected and informed permission was obtained from each participant. They were informed that participation was voluntary and that confidentially would be maintained. The chatbot, augmented reality, mobile shopping, online payments, and customer evaluations are the five factors under which the research examines the effects of technological advances. This study found a significant link between modern technology and purchases made through online stores. The findings also provide us with an understanding of how global economies work, how firms operate, and how customers shop around the globe. The supporting technologies of these trends e.g. chatbots, augmented reality, online payments, user reviews, and mobile shopping will certainly have a favorable effect on the E-commerce industry.