5G and its influence on e-commerce

5G and its influence on e-commerce

2021 has seen the launch of 5G in several cities across Australia. The fifth generation of the mobile network is the most powerful network currently in use. 5G will transform the way people connect with products and services online, as businesses have started to leverage 5G to improve their marketing and support functions, as well as creating new sales opportunities.

Studies show that 5G will boost global mobile e-commerce revenue by $12 billion by 2021. 5G will be used extensively to make online shopping faster and more convenient by facilitating instant purchases. 5G will also be used by businesses to deliver an extra immersive product experience for the customer.

5G will enable Augmented and Virtual reality in eCommerce

Augmented and Virtual reality is the practice of fully submerging into a 3D world, typically through wearables. The astounding quantity of data essential for this technology to deliver such an immersive experience means that a network with high latency and inconsistencies is undependable and will adversely impact the AR and VR customer experience.

The exhilarating speed that 5G will bring to such revolutionary technology will permit more data to be carried, rapidly. AR and VR will consequently become more receptive, and make the eCommerce similar to the tangible real-life shopping experience.

One of the main motives for consumers to shop in-store compared to online is to fully see the product. A complete immersive AR and VR experience lets customers experience the product while being online. 5G will enable such immersive technologies to increase experience-based sales for businesses such as guesthouses where the customers would like to experience the rooms and aesthetics before deciding to pay. 5G will bridge the gap that exists between the product and customer thus enabling businesses across Australia to gain more revenue

5G will empower Artificial intelligence in eCommerce

Businesses are progressively inducting client service systems driven by AI on e-commerce sites through intelligent chatbots and simulated digital personnel. 5G will enable such systems to function in tandem to create the real-life shopping experience where the customer expects a human to assist them to shop or to find products that will suit their requirements.

For a better eCommerce customer experience, Internet swiftness is crucial and the boosted pace of 5G, will enable such AI-enabled systems to function flawlessly.

One of the major challenges eCommerce businesses encounters is the lack of quick purchase. Consumers tend to add products to their carts however they will delay the purchase and, in most cases, they abandon the cart. 5G can help businesses solve this revenue leak by adding network speed for AI-enabled virtual bots which can provide product information, functionalities, and even discounts when the customer is in a decision dilemma. Multiple studies have shown that by 2023, Artificial intelligence systems and tools will manage more than 90% of all eCommerce client communications.

5G will enable shopping beyond computers and smartphones

5G will bring swiftness and ease to e-commerce shopping, we are witnessing the evolution of internet-enabled smart devices which are beyond computers and smartphones. Such devices are complementing eCommerce at a large scale.

Virtual assistant AI technology devices, autonomous vehicles, and even smartwatches can use 5G to search and make purchases seamlessly. 5G combined with the Internet of things are enabling home appliances to communicate with eCommerce sites to make purchase decisions.

Australian eCommerce entities and businesses who are planning to take their products and services online should embrace 5G to enhance their overall business potential.