Web 3.0 is changing lives, and eCommerce is set to advance with the emerging trend of modern-age technology.
Transparency on the internet can be one reason that signifies the development of eCommerce businesses over the last two decades. eCommerce is ready to adopt the changes, but the thing is how Web 3.0 is going to move forward the curve. With the advent of Web 3.0, online stores don’t need a payment gateway like Visa, MasterCard, or any financial institution.
Let’s discuss how impactful it was for eCommerce to be on the web in the past and how fruitful it seems in the upcoming years.
eCommerce Evolution With Web
Nobody was even familiar with eCommerce before the internet arrived, and of course, we cannot even imagine expecting it without the internet. The web has put many industries online, and their number keeps snowballing.
And now, the web is in an advanced form that provokes many organizations to develop their eCommerce platform in the most advanced way.
Let’s see the evolution of eCommerce on the web in detail.
Earlier, we had Web 1.0-based eCommerce services where we saw how static websites were featured. At that time, we also got familiar with the very first version of email services.
In 2005, the Web 2.0 platform was introduced to the world, eliminating the lack of communication between the audience and static websites. It improved several eCommerce businesses, many of which are on the perfect track with their sales and services. It also created a demand for some platforms where the deals could be improved in reach to the targeted eCommerce-based audience.
Web 3.0 arrived with a whole pack of integrated and audience-oriented services that bridge the audience and the responsive websites to cover more and more people worldwide.
Web 3.0 enable users to interact with digital currencies like Bitcoins, Ethereum (ETH), Tether (USDT), USD Coin, Binance Coin, and virtual wallets. This enhances their shopping experiences with modern-age technology and provides a brand-new shopping environment.
How Web 3.0 Will Change eCommerce
Undoubtedly, the impact of Web 3.0 on eCommerce businesses will be significant.
The eCommerce industry is growing at the fastest rate and grandly welcomed Web 3.0 in 2020 because it has made them curious too. Nasdaq stated that by the year 2040, it’s expected that 95% of all purchases will be through eCommerce alone.
So, it’s high time to create the most innovative Web3-powered version of your online store with the features described below.
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Integration of voice assistance & AR/VR technology
Web 3.0 is all set to deploy artificial intelligence and machine learning programs to enhance user experiences. This technology will include voice assistance, virtual reality, and AR/VR experiences. Such an approach enables an entirely new environment where the users can see natural objects in real time.
Voice commerce, AI, and AR are three technologies transforming the eCommerce industry. Voice commerce will play an incredible role as it gives users complete freedom to make their purchases seamlessly.
The Global AR & VR in the eCommerce market will witness over 25% CAGR from 2021 to 2026. With the advancement in tech solutions and the emergence of different online platforms, the use of AR & VR is going to make revolutionary changes in the history of eCommerce.
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Creating an open-source environment
Web 3.0 will make a commendable contribution to the web as an open-source network. It will facilitate the audience to create, edit, change, and develop a self-interest-based community. The open-source platform will help the eCommerce market to gain maximum profitability, enhanced features, and consumer retention.
Web 3.0, the semantic web, uses features like AI and machine learning mechanisms to enhance the user experience. This technology helps interact with the refined search results relevant to them and hides irrelevant searches. This is going to be very helpful for eCommerce businesses and their audiences.
Web 3.0 will soon create an environment where eCommerce sellers can take ownership of the asset they want for their businesses. These assets could be videos, pictures, press releases, or any other type of content. It means Web 3.0 will be more significant and comprehensive to eCommerce companies and their consumers.
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Personalized loyalty programs
eCommerce companies typically offer loyalty programs to encourage the audience. This marketing trick persuades customers to come back and buy more products. The use of blockchain supports the Web 3.0 industry in launching more personalized programs. The virtual wallet can be used for making purchases, having the history of customers, and being a mechanism for preferred customers.
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Highly secured transactions
Blockchain technology, underlying Web 3.0, is more efficient than our today’s widespread solutions. The preferences set by the users and the data of the customer’s history evolve in this technology that allows a Web 3.0-based eCommerce platform to work with more choices. This is an exciting scene from a lot of perspectives, so to appreciate the benefits of blockchain in eCommerce and other contexts, complete one of the rigorous Web3 boot camps from RareSkills.
Conclusion
The massive adoption of Web 3.0 will dramatically change the entire process of eCommerce, enabling businesses to grow rapidly, securely, and transparently. It encourages many commercial organizations to indulge in Web3 eCommerce development companies.
Through blockchain, cryptocurrencies, metaverse development services, and virtual wallets, every customer could have a unique and more engaging shopping experience. What’s more, the buyers will have more bucks in their wallets as they win rewards/loyalty points that they could redeem with their next purchase. In turn, the companies will get more sales.
That’s how Web 3.0 creates a win-win situation for businesses and customers.
