Abstract

Shopping in virtual reality (VR) may mark a new turning point in consumer behavior. A more engaging and enjoyable online shopping experience is in higher demand due to the COVID-19 epidemic, which has pushed many consumers to purchase online to compete with in-store retail both during and after the epidemic. This article discusses the opportunities and different approaches for online buying. Retail sales recovery has been sluggish, just reaching 0.6 percent, even though numerous states relaxed lockdown regulations in August. Some people might anticipate that revenues would increase after the pandemic subsides, but the pandemic’s effect on consumption will persist for a while. Acting is best done right away. Managers may practice innovative digital sales platforms and raise eCommerce shopping-to-buying conversion rates. Artificial intelligence (AI) is widely used, and its advancement significantly impacts our day-to-day work. Artificial intelligence technology has also been well deployed and achieved positive results in the sector of e-commerce, which has recently advanced in science, technology, and economic norms.

Current trends in global e-commerce

The socio-economic impact of the COVID-19 pandemic has accelerated the development of e-commerce across the civilized world, simultaneously going in multiple directions. The relevance of the research presented in this article is the need for Russian manufacturers and distributors to adapt to changes in the competitive environment and consumer market promptly. The aim is to describe current trends in e-commerce and, given an analysis of existing and future risks, make recommendations for improving the organization’s efficiency and conduct at the corporate level. The starting point for applied research was the content of digital tools in the problematic e-commerce space, zero-coding. Open-supply era lets us collect a solution (online store, cell application) from ready-made blocks and templates for a quick time and input e-trade without programming expertise and the want for a full-fledged IT team at minimum costs. The marketplace for structures that permit us to create merchandise without code is developing very quickly – in 2021, it changed into anticipated at 3.8 billion US bucks, and in 2022 it miles expected to create as much as 21 billion US bucks. With the benefits of global e-commerce development and the associated risks, recommendations have been made to create favorable and maximally secure conditions for effective e-commerce business development.

Don’t forget to invest in internet marketing (online promotion of your products). Use e-commerce capabilities to track a user’s journey from the first interaction to the product’s sale. The main goal of internet marketing is to convert website visitors into customers and increase profits. Internet marketing has critical advantages over traditional marketing. A mechanism allows you to single out only target groups from across existing target groups and show ads to them. Web analytics which actions are most effective, attract more visitors to your site, and lead to purchases.

Artificial Intelligence and E-commerce

Electronic Commerce (EC) uses the web with current communication innovation in business operation administration or data trade. The system depending on electronic gear and network innovations is the center of E-commerce. E-commerce electronics all trade forms, counting not sand dissemination but moreover inside commerce forms like Supply Chain Administration, Venture Asset Planning, Management Data Frameworks, Client Relationship Administration and Human Asset Management, Electronic Information Compatibility, the Web, Extranet, Intranet, Email, databases and Web improvement as it was remotely situated trade forms like arrange promoting, electronic installment, innovation are among the essential innovation establishments of E-Commerce. AI is one of the significant differing and well-known computer science disciplines nowadays, including the plan and development of intelligent ‘machines. These clever machines are built to achieve activities only possible with human judgment skills. It is no exaggeration to say that artificial intelligence is a familiar term. Artificial intelligence is also being used at home for e-learning and e-commerce. Artificial intelligence can be said to be all around us. From the grocery store we go to, the extensive shopping malls with self-checkout to airports with the best selection. It has an advanced security system. Besides that, AI is used in educational systems, offices, etc. People are becoming increasingly dependent on technology controlled and manipulated by artificial intelligence. In today’s world, it’s standard for computers and robots to do simple and tedious tasks to make people’s lives easier. Artificial intelligence has become an integral part of humans. We live in the world we live in. This world is highly commercial and independently serves customers worldwide time or business needs. Through AT, companies can check in real-time and streamline their operations. Besides supporting national security, in today’s world, e-commerce. One industry uses artificial intelligence to create a large and recognized customer base: customer requirements, real-time research, solutions to problems, and more.

Application of AI in Ecommerce

·  AI-based sales and marketing system helps an organization manage customers’ information and e-commerce sales.

·  AI-based system analyzes competitors to generate a new deal and mark top ranks in the market.

·  AI-based data management collects customers’ and resellers’ data to provide a seamless and fast delivery experience.

·  Virtual shopping assists in giving a good and easy interface to the customer.

·  AI based warehouse automation manages stock inventory to offer a tremendous and accurate delivery experience.

·  Most important is the recommendation engine, which makes customer easy to do quick shopping.

·  AI-based payment gateway manages customers’ and bank details for the best and hustle-free shopping experience.

·  AI use to analyze and detect fake product reviews. Amazon AI technology analyses whether they are verified customers or not.

Opportunities in Ecommerce

E-commerce is an innovation used by Micro, Small, and Medium Enterprises worldwide. It is used to seize opportunities in the development of innovative business leadership. Innovation is essential for companies to survive in the era of 4.0, including MSMEs. Taking chances and innovation is key to creating new products that ensure the survival of small businesses. This study aimed to identify perceptions of e-commerce opportunities in influencing consumer satisfaction and trust, providing the best customer service, and meeting customer expectations and threats to his MSMEs. This study is a quantitative descriptive study. In this study, we applied a quantitative descriptive approach with survey methods. Data from questionnaires and interviews were analyzed using Pearson correlation product moment analysis. Findings reveal that the following e-commerce opportunities influence transaction completion satisfaction and trust, provide the best service, meet customer expectations, and pose no threat to MSMEs. Based on our findings, e-commerce represents an opportunity to influence consumer satisfaction and trust, e-commerce represents an opportunity to provide the best customer service, and e-commerce represents an opportunity to improve customer expectations and e-commerce. It is shown to be obtained. – Commerce is not a threat to his MSME. Conduct a survey of e-commerce practices among participating small businesses to improve in various ways. The metrics proposed to assess e-commerce implementation are too superficial and could be reinforced by multiple other metrics. The researchers anticipated that the study could be refined to more complex variables and cases later.

Future of Ecommerce

Technological development and the internet have increased the demand for e-commerce stores in the modern world. Amazon, Flipkart, E-bay, and Myntra are some big players in the e-commerce business. Because it’s more convenient and less expensive than face-to-face shopping, for this reason, rising demand has led to an increase in the number of e-businesses, which are expected to become more critical than offline shopping in the future. There is no doubt that the future of e-commerce is full of exciting improvements and development for companies and customers. This approach will also develop in regional areas, which is needed to create e-commerce platforms and resources and improve internetwork. Many considerations and variables need to be weighed and decided upon when starting an e-commerce business, including various e-commerce styles, marketing campaigns, and other topics. With the right strategy and producers, your business can thrive and succeed in e-commerce. Overall, the future is in the hands of e-commerce as the modern world evolves and everything is associated with e-commerce. Given the far-reaching impact of digital transformation on the business world and society, tracking and analyzing key e-commerce trends is integral to doing business and can only increase your competitiveness. It should be noted that it does not create a condition for sellers and business systems but also regions that contribute to the formation of productive and innovative possibilities.

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