Technology

The next evolution of e-commerce: Smart TV

The rapid development of mobile technologies has enriched the notion of e-commerce and has expanded the ‘place’ of purchase and revenue streams for merchants. Consumers can now shop and pay not just in a store, but also at home, at work, on the bus, and on the go. The smartphone and m-commerce have thus blurred the boundaries between the online and offline worlds.

Time has become an extremely valuable commodity and to a large extent defines the choice of products, services and retailers. Convenience is another important factor for consumers. Experts say TV commerce (or e-commerce) is an area for smarter new shopping and a way for merchants to engage with consumers in new ways.

Connected televisions or smart TVs, which have functions such as Internet connection and streaming, are becoming a standard among television brands. According to some industry sources, the penetration rate of connected TVs was 20% in 2010 and will increase to 50% in 2013. In addition, platforms like Google TV, Apple TV and Roku for watching videos on demand (VOD) are increasingly popular. Thus, television is entering a whole new era, providing more opportunities for advertising, marketing, revenue generation, and viewer engagement. What are the key features of e-commerce?

  • Shopping. E-commerce solutions allow viewers to respond directly to offers presented on their television screens and purchase products instantly using their existing remote controls and set-top boxes.
  • Information request. E-commerce applications allow viewers to request more information about products, services or events directly from the content they are watching on television with a few simple clicks on the remote control.
  • Voting and voting. E-commerce solutions provide additional opportunities for the viewer to interact with shows, advertisers, and networks. Thus, viewers can vote for your shows, shows, news reports, game shows, sporting events, etc. favorites.
  • The immediate response. Instant feedback from the viewer means immediate response for the trader. Thus, companies gain valuable customer data for further research and targeted marketing.

The e-commerce paradigm has the potential to turn televisions into a powerful business tool that allows merchants to conduct business through television. E-commerce makes it possible to reach new and existing customers through increasingly popular Internet-connected televisions and set-top boxes. The entire purchase can be done with nothing more than a series of clicks on the remote. Consumers tend to respond very positively to companies that take the time to understand their needs and provide excellent customer service.