This trend would also allow brands to streamline their tracking and reporting, which means that they could gain much better insight from facts and figures generated by an unbiased, all-seeing computer, rather than their employees who are prone to human error and oversights.
Perhaps one of the biggest areas that automation could benefit a business in is fraud. Dishonest and illicit transactions are one of the biggest issues that plague the E-Commerce industry, due to the number of scammers and demanding customers looking to take advantage of the lack of human interaction. Nowadays, a company usually designates a particular employee – or even an entire department – to cross-check orders with shopper purchase histories to identify whether the individual is legitimate and actually looking to push through with their order.
Without a doubt, automated fraud protection embedded into their platform would reduce the risk of such transactions, preventing suspicious and possibly malevolent orders from being fulfilled, allowing the brand to avoid the ensuing headache and costly chargebacks.
The majority of businesses today are also heavily reliant on human Insights, technology, and intelligence, all of which are, unfortunately, quite restricted. However, automation goes hand-in-hand with artificial intelligence, which is bound to provide more in-depth information about a company’s operations – sometimes, even in real-time. This would result in a more extensive overview of the inner-workings of their business, which would certainly be a huge benefit to firms and organizations everywhere.
This hasn’t gone unnoticed by those in the E-Commerce industry with worldwide artificial intelligence and process automation expenditures expected to go beyond $15.4 billion by the year 2021. Failure to adopt these new technologies could potentially spell bankruptcy and defeat for businesses all over the world.
Sustainable E-Commerce Movement
The first few years of E-Commerce were quite interesting, to say the least. While affordable plastic packaging and fast fashion have both been great for our bank accounts, they’ve been nothing but disastrous for our environment. Global discourse now primarily revolves around global warming and climate change – two pressing concerns that are bound to change our world, as well as how we interact with each other, for good.
People are now becoming more aware of their carbon footprint and the impact that they have on Mother Nature, with many calling for brands to adopt a more environmentally-friendly and sustainable business model. Corporate social responsibility and being aligned with a particular social cause used to be enough, but today, consumers are demanding companies to “walk the talk,” imbuing the values that they proclaim themselves to hold in high-regard into every single facet of their operations.
With this, green manufacturing practices, eco-friendly supply chains, and a reduction in waste packaging are just some of the changes that we’re bound to see in E-Commerce in the next few years. Companies will be looking into cutting waste and environmental degradation while still maintaining their efficiency and profitability, as well as their market value.