How Technology Is Redefining E-Commerce - 0 views
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The last decade was the biggest in the history of the e-commerce industry.
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According to eMarketer, China pulled in almost $900 billion from e-commerce storefronts in 2016, with the U.S. earning more than $423 billion in sales revenue. Overall, the e-commerce world received approximately $1.915 trillion in 2016.
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The advent of virtual and augmented reality technologies has provisioned e-commerce vendors with an avenue to display their wares in immersive detail, comparable to the real-life experience.
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The traditional emphasis in the e-commerce industry has always been on the shopping experience from the viewpoint of the buyer. In addition to promoting seamless buying, technology is also working to the advantage of the seller. Easy access to instantaneous communication, information transfer, logistics processing and online networking have allowed for remote orchestration of sustainable e-commerce platforms. Sellers no longer have to micromanage every aspect of the e-commerce business or possess the huge start-up capital associated with the sector in the past.
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If there’s one other thing that has been the bane of the e-commerce industry, it’s the issue of processing payments made by buyers. It's proven to be either too hard or too expensive to incorporate a payment gateway capable of processing orders from all world markets.
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With other revolutionary payment solutions like Bitcoin gathering momentum, technology might once and for all eliminate the industry’s payment limitations. The ability to pay through blockchain removes the intermediate middlemen, allowing both businesses and customers to have more control over how they conduct business.
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This article is describing how technology is redefining E commerce. E commerce has been playing a really big part into everyone's everyday lives, but with technology expanding so is E commerce. For example, technology has been helping with online stores since they are able to show exactly what they are selling with detailed descriptions. Paying methods have also been made a lot easier, and are more reliable. Since technology is not done growing that means E commerce will also be expanding!