How have new technologies enabled the development or eCommerce?

New technologies have made rapid information transmission and improved communication possible. They have also made the products offered more available, more extensive, and more specific with the appearance of online marketplaces. 

Thanks to the development of the internet and social networks, physical shops are invited in the virtual world, allowing a consumer in Sydney to order a product in Shanghai and have it delivered in a few days. This could also apply to a small artisan located in a small village in France to sell their products globally. With virtual reality, you can even visit the shelves of the store where you will be shopping. In addition to making products more accessible, new technologies have considerably improved the customer experience.

This improved customer experience has broken down several psychological barriers to the quality and reliability of products from specific regions. Thanks to social networks, consumer blogs, and specialized websites, consumers can share their experiences concerning a service or product. This guides the choice of other consumers for that product or service. If the supply has become more extensive, it is because companies have been able to take advantage of new technologies to generate global demand for their products. This can be achieved by transmitting information about a product, as well as sublimating a product through an image or video to intrigue consumers.

Finally, one of the significant contributions of new technologies in the development of eCommerce concerns the evolution of means of payment. Recent years have seen a revolution in the field, with the creation and development of payment methods such as Paypal, ApplePay, Google Pay, online bank card payments, and the strengthening of online payment security. Today, the seller no longer needs to wait 5 days to ensure that a bank transfer has been made or that a check has been cashed before delivering a product to a customer. Everything is done instantly, which is beneficial for both parties. 

There is a correlation between new technologies and the development of eCommerce. However, the list is not exhaustive, and new technologies have not finished positively influencing eCommerce. The next few years will teach us more.

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