Today, businesses are creating experiences for their customers that go beyond traditional e-Commerce. They are using new technologies such as artificial intelligence (AI) and machine learning; natural language processing (NLP); computer vision and speech recognition to give customers personalised, dynamic and connected experiences. This new world of e-commerce is known as composable commerce.
In contrast to the siloed nature of typical e-Commerce systems today, composable commerce enables businesses to build solutions that integrate AI and automation throughout the entire customer experience lifecycle. It does this by breaking down complex architectures into smaller, composable modules or atoms that can be combined in different combinations from a library of available prebuilt components. Read on to learn more about composable commerce and how it can benefit your brand.
What is Composable Commerce?
Composable commerce breaks down complex architectures into smaller, composable modules or atoms that can be combined in different combinations from a library of prebuilt components.
Composable commerce can enable all aspects of the customer experience lifecycle – from marketing and merchandising to online sales and servicing. It also integrates with external systems such as CRM, ERP, WMS or PIM.
It can also create a new ecosystem of connected services and dynamic interactions across multiple channels, such as in-store, mobile, email and chatbot, that can be tailored to individual customers’ preferences. According to Gartner research, composable commerce provides innovative strategies that help brands grow more robust and establish a sustainable business expansion. Equally, this technology will outdo competitors by nearly 80% in the market- proving its reliability in businesses.
How is Composable Commerce Different From Traditional eCommerce?
Composable commerce is different from traditional eCommerce in many ways, including the following:
- Siloed architecture: traditional eCommerce systems are typically built around a collection of separate, often monolithic applications that manage everything from merchandising, sales, inventory and fulfilment to payments.
- Agility: in contrast, composable commerce systems are more loosely coupled, with clearly defined interfaces that allow business functions to be run as separate modules. This provides more agility to respond to change, as well as the ability to integrate new technologies to meet new business needs quickly.
- Dynamic CX: composable commerce allows businesses to create dynamic, two-way customer experiences. They can respond immediately to customer needs and anticipate their requirements based on real-time data sources and long-term behavioural patterns.
Why adopt composable commerce?
Composable commerce is a new way of building commerce systems that enable businesses to quickly create experiences for customers that go beyond traditional eCommerce. It is crucial to adopt composable commerce because it will help you achieve the following:
- Improved customer experience: customers expect consistent and personalised experiences across all channels and devices. Composable commerce solutions can automate many manual tasks, such as merchandising, order fulfilment and payment to improve customer service.
- Lower operational costs: by automating manual tasks and connecting functions across multiple business applications, composable commerce solutions allow businesses to reduce labour requirements and operational costs.
- Greater flexibility to respond to change: when you adopt composable commerce, you can more efficiently respond to customer needs, evolving business strategies and market changes.
3 Benefits of Composable Commerce
- Speed: If you adopt composable commerce, you can shorten the time needed to create and launch new eCommerce solutions. This is because you can use off-the-shelf solutions and prebuilt components that plug into your existing systems.
- Cost: Using prebuilt components can decrease upfront costs for creating new e-commerce solutions. You can also reduce ongoing costs by increasing automation, which reduces the need for human labour.
- Flexibility: You can easily integrate new technologies into your existing e-commerce systems to respond to changing customer needs and business strategies. This can help you create more widely applicable solutions across different industries.
AI platform such as DigitalGenius should be part of your technology stack.
You can use AI as part of your technology stack to streamline various business processes and provide a better customer experience. AI solutions, like DigitalGenius, can help you create dynamic, two-way customer experiences that respond to real-time data. For example, you can use DigitalGenius to respond to customer needs, such as delayed delivery by contacting the customer, suggesting a different delivery date or offering a refund.
Composable commerce is the next big thing in e-Commerce. It allows businesses to create new solutions and use new technologies such as AI to provide a better customer experience.
In addition, these solutions can automate manual tasks and connect functions across multiple business applications, allowing businesses to reduce operational costs and increase flexibility.
Read how DigitalGenius has already been selected by many brands, helping them to reduce their costs and to grow their business performance and productivity.