Companies in the e-commerce sector are increasingly faced with the challenge of continuously optimizing their technology infrastructure in order to remain competitive in an increasingly competitive market. In order to optimally support our customers in the digital transformation of their business processes, we always keep an eye on the development of current megatrends. Industry-specific trade fairs such as K5 are an indispensable source for exchanges with experts and the mutual transfer of expertise. This year, three focus topics have emerged that companies in e-commerce should pay particular attention to.
Trend 1: Seamless shopping worlds through omnichannel
Today’s customer expects a seamless shopping experience across multiple channels – be it online marketplaces, social media, mobile apps or physical stores. These points of sale can no longer be viewed as separate entities, but must be aligned through holistic networking so that there is no friction when a purchase is made across mediums. The basis for this transcendence lies in a consistent user experience, uniform product information and seamless inventory management of all products on offer.
At the same time, don’t make the mistake of prioritizing online sales and neglecting the retail business. Recent market data shows that sales through digital channels declined in 2022, while brick-and-mortar business experienced surprising growth in the same year. So instead of dispositioning from one channel to the other, companies should balance both offline and online business to provide the best possible experience for their customers with different shopping behaviors.
Trend 2: Low code – accelerated innovation through minimal development effort
The impact of low-code development in the e-commerce space is inexorably growing. Companies face the challenge of responding faster to market changes while delivering innovative solutions. Through low-code development, companies have the potential to create custom applications and features faster than ever before. With visual interfaces and pre-built modules, developers can create robust solutions without extensive coding knowledge. This not only speeds up time-to-market for new features, but also opens up space for experimentation and innovation. Low-code platforms, such as the A12 platform developed by mgm, focus on efficiency and flexibility, which helps companies adapt agilely to the ever-changing demands of the e-commerce market.
Trend 3: Personalization with artificial intelligence
While the term artificial intelligence was considered a mere buzzword just a few years ago, this topic has triggered a true revolution thanks to technological advances. With the help of neural networks, AI systems help companies gain deep insights into their customers’ behavior. By analyzing purchase histories and search behavior, AI enables personalized recommendations that take the shopping experience to a new level. Intelligent chatbots provide around-the-clock support, while automated processes such as inventory management and shipping optimization increase efficiency. AI has the potential to fundamentally change e-commerce by putting the focus on the customer while helping companies gain valuable insights from data.
The e-commerce market is characterized by a whole range of technologies that will shape the shopping experience for years to come. Artificial intelligence is enabling personalized recommendations and improved customer interactions, while omnichannel strategy is creating seamless shopping environments that reach customers at every point of their journey. The low-code revolution is accelerating innovation within each company by enabling them to quickly implement customized solutions without extensive coding. Modern e-commerce companies no longer see these issues as an add-on or a “nice-to-have” to their original business model, but as a necessity to stay competitive with their competitors.
Mgm helps companies implement these technologies by guiding the digital transformation from conceptualization, through the planning phase, to roll-out and maintenance to ensure a seamless transition between the old and new systems.
For more information on the topic of digital transformation in retail and our services, click here.