Ecommerce trends in near future: Live commerce and Voice commerce
Online shopping consumption is rapidly increasing due to the sudden appearance of COVID-19. It is a time to consider how to approach customers in preparation for online shopping consumption becoming a daily life. According to CNBC news, U.S. e-commerce sales grew more than 30% between the first and second quarter of 2020. Also, Amazon’s third-party vendors see 60 percent increase in sales on Prime Day Amazon has been a clear winner over the course of the pandemic: Its stock has skyrocketed by about 87 percent since the beginning of the year. As an example, like this shows, the future of e-commerce is very bright, e-commerce shopping style has now become an integral part of our lives. Let’s take a look at live commerce and voice commerce, which are becoming more and more popular after pandemics.
The emergence and spread of live commerce
One of these is live commerce. The video is also delivered in a live method, not VOD (customized video information service that provides the video that the user needs at the desired time), and communicates in both directions. Consumers purchase products with one click after acquiring various information through live. In line with the new technology, the way e-commerce is doing business is also changing.
These days, you can easily see people taking videos on their mobile phones when you pass by streets, restaurants, and clothing stores. There is a high probability that someone is acting to enrich their social network service (SNS), while others are acting for private broadcasting. With the development of smartphones and video-based channels such as YouTube, Instagram live, personal media are also gaining strength. Live commerce seeks to innovate e-commerce by providing new experiences to consumers through e-commerce and real-time broadcasting. In particular, the development of IT technologies such as 4G and 5G, the widespread use of mobile devices, and the lifestyle changes of consumers who prefer to use text to images and videos, and now live videos are further developing the live commerce market.
Voice commerce, a future shopping trend that is ordered by just talking
“Recommend jewelry! Put the cheese stick in the cart
Voice commerce, which shopping with voice rather than touching the screen with a finger or clicking with a mouse, is pointed out as a market with the highest growth potential in the future.
It should be noted that it is a system in which payment is made only with the user’s voice through biometric recognition technology if the user’s voice is input in advance, just as the mobile user’s fingerprint recognition replaces the password.
However, the biggest barrier now is privacy and security. In addition, the current limitation is that the performance of voice AI must be improved in order to accurately recognize the detailed conditions desired by buyers with voice.
These will certainly make our lives easier and will be a great opportunity to save time. However, behind the scenes, impulsive purchases by live commerce and security issues of voice commerce may be disadvantages. As you shop with these new technologies, new job opportunities such as video editing and voice recognition technology are expected to emerge.
About author: Carrie Yim is a web and graphic designer in Dallas, Texas. In her free time, she likes to take a walk to nature preserve trails with her dog. (www.thelimecreative.com)