Technology has greatly reshaped the way people do business now. Convenience is the name of the game when it comes to online business transactions.

As e-commerce regularly develops, the unfolding of various innovative technologies is also happening within its industry.

Here is our list of latest technological innovations on e-commerce transactions:

  • Virtual reality technology
    Yes, you’ve read it right, virtual reality is slowly creeping its way to e-commerce now. This technology is not just a sure hit in the entertainment industry. Some e-commerce platforms are now also using it to provide a much better instore experience to online shoppers.

    This technology uses common VR equipment (headset or google) that lets the customers view the product from every angle. With the integration of high-quality application development, businesses from different niche can use this equipment to fully engage their customers in a 3D shopping experience.

    For instance, a clothing store can present a creative virtual dressing room to their online buyers, while giving them a chance to try on the item in different colors and variations. A home décor retailer can help their customers select the perfect décor for their homes by presenting them an interactive application that helps them virtually project the designs and styles they want.

  • Drone delivery

    Although government airspace regulations have yet to be constituted in some of the parts of the world, some major e-commerce site like Amazon is now using a drone delivery system. This is one of the most ingenious technological inventions perfect for the e-commerce industry.

    It allows for quick repeat business transactions boosting a substantial growth in sales. Drone delivery takes fast shipping method to the next level.

  • Social networking sites

    With the great increase of interactions happening online today through social networking sites, it is the perfect environment for product marketing. From advertisements to products reviews, social media have been a huge factor in successful e-commerce promotions.

    Social media sites like Facebook, Instagram, YouTube, and Twitter are a great avenue for setting up brand recognition through a tactical marketing campaign.

  • Mobile applications

    The development of many mobile applications for selling has largely impacted e-commerce’s growth. The ubiquity of smartphones today gives potential buyers a handy avenue to monitor online promotional sales and discounts.

    Smartphones and other digital devices make a round-the-clock interaction between sellers and buyers online possible. With interactions like this, customer satisfaction is high thus allowing good income for every e-commerce entrepreneur.

  • Digital currency

    TDigital currency is a currency that functions just like physical money in the online world. It allows immediate and effortless electronic payment without the hassle of doing banking transactions every time customers make a purchase.

    There are a lot of online companies providing digital currency solutions now. They are boasting digital security channels that will favor both retailers and consumers.

Most of these technological innovations are immature as of this moment, meaning they are not yet rampantly used worldwide. However, as e-commerce booms so are the need for technological advancement so, these technologies will soon grow more popularity.