Researchers from Statista estimate that by 2025, the UK ecommerce industry will reach £113 billion in market value.
In these uncertain days, why is the ecommerce industry landscape looking so sunny and bright as it approaches the next few years and beyond?
Technology is the main reason the industry is on the crest of this financial wave. It is the backbone of the industry - and it always will be. Implementation of new technology and welcome of its trends have paved the way for continuing success and profitability in the sector.
But what are the main areas in which technology supports and benefits the ecommerce industry most?
The industry is becoming ever more efficient - let's face it, it has to keep up with consumer demands.
Quick, accurate handling and service are essential - reducing these pinch points are under constant review. With streamlined payment methods, intelligent data capture, multi-channel e-commerce software solutions, Artificial Intelligence (AI), Augmented Reality (AR) and even the introduction of drones and droids for fulfilment and shipping. Time and motion are a relentless struggle within the industry.
A warehouse management system (WMS) can improve efficiency by suggesting the best routes and methods for picking or storage. In addition, automated picking lists are sent to mobile readers and smart devices to help eliminate mistakes and reduce wasted time and paper. Barcode technology or radio frequency identification (RFID) readers can improve the accuracy of transactions and reduce picking errors.
As online consumers, we now expect our shipments to be with us the following day, sometimes the same day. Instant contact with customer services from the shipper to seller i.e. 24/7 communication has never been more crucial.
Smartphones have become a primary medium of communication. Research and purchase of products online, via online ecommerce portals like Amazon, eBay and OnBuy with a one-click service; it is now easier than ever to purchase products at the swipe of a finger. Scary, stuff, hey!
The introduction of chatbots and live virtual support facilities have proven a lifesaver in streamlining. A pre-programmed chatbot will answer frequently asked questions (FAQs) that can take valuable time away from a customer service department.
Technology has made scaling up or outsourcing to an online e-Commerce business a relatively quick and painless process. Miscommunications and miscounting are the most common problems in inventory transfers and outsourcing, making it difficult to track across multiple locations.
Cloud-based software that syncs in real-time across different locations ensures reliable communication and improves scalability. It gives an instant picture of what moved and what is available - So no lag in service or shipping.
We love working with our clients to understand their needs and implement procedures to manage and successfully deploy projects. This includes all areas of the order fulfilment process such as collation and assembly, supplier coordination, packing solutions, distribution and reporting to name a few.
Our operations centre reviews processes and technology regularly to establish that we can support our clients the most efficiently and effectively.
If you are looking for help suited to your bespoke business needs, please get in touch as we will happily advise you of best industry practices. Contact our expert team today or give us a call on 01483 863300.