How innovation is changing the e-commerce sector

Innovation in the e-commerce sector

Innovation has never been a bad thing amongst humans. Humans have relied on innovation in the commerce sector long before e-commerce arrived. The distribution chain was not that sophisticated hundred thousand of years ago when the first modern humans emerged. Modern humans started inventing innovative ways to trade with each other thousands of years ago. This makes the commerce sector a relatively old sector. The e-commerce sector started developing with the advent of the first computers. The first computers might have been primitive in modern standards but they soon took over the entire financial sector. Almost all financial activities where soon done digitally.
The first e-commerce sector innovation was the ability to transfer money online electronically. This gradually reduced the time that was needed in performing e-commerce transactions. The most used e-commerce financial transaction methods are mastercard, visa card, paypal and gift cards. All these payment methods are now commonly used innovation in the e-commerce sector. However there has been the growth of crypto-currencies such as bitcoin. In the year 2017 more than 100 million transactions where performed through bitcoin. This puts bitcoin as one of the largest transaction methods. Bitcoins is now being accepted on online stores across the world.

Delivery technological innovation

Delivery technology is also innovation is also on the rise in e-commerce. We are now living in the age of artificial intelligence. There is growing innovation on the side of e-commerce deliveries due to artificial intelligence. There are numerous innovations in autonomous driving and drone technology. This will lead the e-commerce sector to the next age. Driverless drones will play a critical role in e-commerce deliveries.

Fulfillment innovation in e-commerce

Fulfillment innovation in e-commerce has already taken over the e-commerce sector. Amazon already uses robots to fulfill customer’s packages. These robots are going to be more complex in the next couple of years.