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“THE POSSIBLE CHALLENGES E-COMMERCE MIGHT FACE IN THE NEXT

DECADE”

ALONSO RAFAEL MERA SABALZA

E-COMMERCE

FUNDACIÓN UNIVERSITARIA ÁREANDINA

FACULTAD DE CIENCIAS ADMINISTRATIVAS, ECONÓMICAS

Y FINANCIERAS

FINANZAS Y NEGOCIOS INTERNACIONALES

20 febrero 2023
 INTRODUCTION

Over the years, e-commerce has grown rapidly and transformed consumer habits
around the world. This was further enhanced after the pandemic of the new
coronavirus, which forced the population to stay at home, making online shopping
the best option.
but with so many new technologies and advances in industry, e-commerce itself
has undergone major transformations. And, of course, this is just the beginning.
  Argue a possible way to solve or prevent each problem that E-commerce
might face in the next decade

THE NEED FOR ONLINE IDENTITY VERIFICATION

Identity and access management must evolve over the years, facilitating the
emergence of more advanced processes that allow designing and implementing
strategies that allow anticipating situations of impersonation and fraud, reducing
risky identity-related access.
For users to be able to transact within an application or website in a secure
manner, it is necessary to carry out multi-factor authentication technologies that
include the following:
Fingerprint, facial, eye, and voice recognition technologies. QR code.

DELIVERING AN OMNICHANNEL CUSTOMER EXPERIENCE

In short, communication with the client faces a series of challenges that can only
be solved with omnichannel, above all, bearing in mind that in the future new
communication channels will continue to appear that will have to be adapted to the
new ways of interacting with the customer. And all this must be done in an agile
and reliable way, to give an immediate and personalized response, as demanded
by the customer of the present and the future.
Developing a strong omnichannel strategy across multiple channels will prepare
the company to succeed today while providing flexibility and scalability for what
may happen in the future.

SHOPPING CART ABANDONMENT

The ecommerce is enjoying spectacular growth, but it is not the apex of what it
could be, with three quarters of abandoned carts, on average. This can be
remedied by understanding why customers abandon their shopping carts and
implementing strategies to counter problem areas on your ecommerce site.
Keep customers interested (even after abandonment)
Be transparent with prices, Improves the performance of the site, Optimize the
payment flow.
MAINTAINING CUSTOMER LOYALTY

An important part of recent digital transformation strategies has focused on the

customer, on keeping the customer and rightly so. many elements redefined the
way brands communicate with consumers.
In the future, new digital environments will have an impact not only on the
customer experience, but also on the work of employees.
So businesses must use smart technologies to improve their employees' creativity.
That’s by freeing them from heavy tasks, using AI-based tools that allow them to
focus not only on financial results, but on delivering outstanding customer journeys
and boosting productivity.

THE HEADACHES OF PRODUCT RETURN AND REFUND

At the level of e-Commerce management and administration, returns requests

have an internal process that will be coordinated in an optimized manner in the
future,
When a return request is made by the customer, a process of actions is triggered
in the online store, the option is incorporated that the user, autonomously, can
manage the return from their user area making this process more agile and simple.
This action can be done without the need to call or send an email, In many cases
e-Commerce managers have the idea that returns are facilitated.

THE STRUGGLE OF COMPETING ON PRICE AND SHIPPING

Online retailers are increasingly giving importance to the post-shopping

experience. Sending is no longer seen as a step they have to complete, but is
already integrated into their loyalty strategies, and to differentiate themselves from
the competition. We have to keep in mind that shipping is usually the part with
more points of contact with the customer. So delivery can be a deciding factor for
future purchases.

That’s why we see that the most growing brands are focusing on offering
customers multiple shipping options with more advanced technologies.
COMPETING AGAINST RETAILERS AND MANUFACTURERS

half of the retail profits will come from new sources of income "beyond commerce",
such as third-party market activity, monetization of data, including digital
advertising, business-to-business services and consumer financial services. By
contrast, traditional retail activities, such as the sale of goods, are unlikely to
achieve a significant increase in profits in the coming years.

As a result, retailers are increasing their investment in the digital sector, seeking
funding to carry out these transformations will drive a new wave of operations, as
retailers will seek to scale up rapidly.

THE HEIGHTENED DEMAND FOR DATA SECURITY.

They will be based on cloud computing, artificial intelligence and data analytics, will
have an increased component to enrich customer experience and expectations,
will represent their real assets in distributed ledgers ("tokenization") as a strategy
to conceptualize their value and record over time, they will articulate and develop
trusted third-party capabilities to create multiple connected ecosystems.

They will demand greater processing capacity in less time, to respond to market
challenges. They will seek to rely on the new frontiers revealed by quantum
computing.