Technology has completely changed the world. There is no sphere of life, be it school or the workplace, that technology has not changed. Even the smallest and most basic inventions have changed how we behave and, more importantly, how we think as well. There has been a huge change regarding how we interact with each other, even the things we talk about or the type of work we do.
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But the field that has gone through the greatest impact of technology is commerce. Ever since technology became more dominant, the entire buying and selling relationship and behavior has completely evolved. There have been changes in commerce that we couldn’t even imagine.
More Convenient For Consumers
Technology has made it much easier for consumers to shop. Whatever you are shopping for, you can find it online. For instance, the most expensive and heavy machinery can be bought online, and you can even buy succulents online. The extent and products available online are unbelievable. Customers can compare different options and then make a better-informed decision. They don’t have to visit the store to buy something physically. This also makes it less costly and more convenient, especially for people who have a very busy routine.
As the trend of e-commerce is going up, people have also started preferring websites and apps to shop for clothes or even the basic necessities such as groceries. One of the main reasons for that is that through online shopping you don’t have to pay cash in hand. However, you can simply transfer money from your bank account to pay for the things you are buying.
Just In Time
Before we had such advanced software that helped retailers track their inventory, they had to keep inventory stocked up. This was done so they wouldn’t face shortages when the customer demands a specific product. However, this is no longer the case now because now retailers can easily track their inventory. They have such advanced software and apps that keep a check of the stock and automatically place an order for more inventory based on the previous demand schedule. This just in time inventory system also reduces the retailers’ cost as they don’t have to buy inventory beforehand and spend money on getting a proper storage unit to stock everything.
Technology also gave birth to the customization and personalization of the goods demanded by customers. It has allowed producers to make different changes to generic products they have made for their customers based on various people’s needs and demands. It also helps them increase sales and attract more customers, and increases customer satisfaction as well.
Now we have the option of communicating with the seller directly. After we have purchased something from them, we can communicate our concerns if we are not satisfied with what we have bought. Moreover, we can even get in touch with the seller before purchasing anything. Websites and Shopping apps have this chat option, which allows buyers and sellers to communicate with each other. This allows both parties to address any concerns they might have regarding the product.
More Power To Sellers
Technology has also allowed sellers to track buyers. This includes getting a hold of their data, such as their search history and what products they have added to their cart previously. Through this, they then advertise the products to consumers of their interest, and they might be interested in buying them.