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7 Tips Every Young Startup Needs to Keep Itself Safe

When you are handholding your young startup as it takes its baby steps towards adolescence, it becomes difficult to handle all operational aspects. One critical issue that needs your attention is the security of the website and IT systems. While most small businesses do neglect this aspect, studies show that small businesses bear the brunt of these attacks. Mostly because they are unprepared against such attacks. A 2019 Ponemon report on the status of cybersecurity with small businesses showed that only 30% of the sample companies stated that they have adequate security postures against cyber threats. Understand how a secure website helps It always helps a startup if the founders understand the problem at hand. Similarly, it also helps if they are aware of the dangers of a potential data breach and the methods that can be deployed to prevent this from happening. Once you have an inkling about the issue at hand, do formalise a plan to address this issue. Devise a formidable secur...
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Key Trends in e-commerce Software Development

B2B, as well as B2C e-commerce trends, show exponential growth over the years. E-Commerce trends in 2019 state that online sales are estimated to grow to $4.9 trillion in 2021. As more and more enthusiasts jump onto the e-commerce bandwagon, the onus remains on you about how to distinguish your services from the competition.

So, how do you create brand equity in the market? You turn to your software developers, right. We will now take you through five key e-commerce software trends that are catching up with the industry.

Voice Assistants in Shopping

Currently, voice assistants do not have much use in e-commerce. The technology behind this is rather complicated. Apart from voice recognition, this requires artificial intelligence in its fullest flow and covers Natural Language Processing and machine learning. Would not it be interesting if you could order using Amazon Alexa! Research suggests that by 2020, voice search will cover 50% of all shopping.

Target the Mobile Customer | Advent of PWAs

We take most of our shopping decisions while on the move. E-Commerce software has been quick to respond to this. Mobile Apps became the order of the day. The industry is now moving a step further with the advent of the PWAs – the Progressive Web App. So, what is a PWA? It is a web app that uses web capabilities to deliver an app-like experience. Its benefits are manifold, such as –

25 X reduction in device storage;

Increase in conversion rates by 52%;

Engagement increases by 137%; and more.

The advent of IoT

The industry is striving to enhance customer experience. Another key e-commerce software trend revolves around Internet of Things (IoT). IoT is the answer to the impending expectations of improved customer experience. While customers can try clothes and jewellery virtually; logistics managers can manage inventory in real-time using sensors and RFID tags. IoT also undertakes temperature checks of perishable items. As IoT encompasses more devices in the logistics cycle, it will generate more data for e-commerce software to improve customer experience.

Predictive Pricing

The advancement in e-commerce software also helps the industry beat the threat of deep price cuts. With the advent of artificial intelligence, you can now factor in multiple KPIs while deciding the prices of your products. You are now able to consider various factors; viz. competitor prices, product demand, historical rates and the customer's propensity to buy. Software algorithms will now help you propose the optimum price that is more lucrative to the customer and thereby increases sales.

Augmented Reality

Researches show that customers are more eager to purchase a product using augmented reality apps. Augmented reality allows customers to browse through a wide assortment of products before they make their choice.  Customers can visualise their purchases, thereby making them feel more connected with the product on offer. Moreover, they can have more accuracy in their purchase decisions.

Conclusion

As the e-commerce trends show exponential growth, the industry continues to strive for profitability and improved customer experience. E-commerce software is also evolving to ensure that the growth rate is sustainable and advantageous for investors. The industry, however, is continuously changing, ruled by specific e-commerce software trends.

 

 

 

 

 

 

 

 

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