Technology and internet have taken over every facet of our lives. From health, finance, communication, and grocery shopping to education, commuting and retail experiences; the percolating is exponential.
Now, the shopping journey is no longer considered as a single, disassociated activity; rather it has been rewritten as a social activity. Over the last few years, it has driven inspiration from digital transformations and upended shoppers’ day-to-day lives. Here, we are spiraling up towards 2019, and there has never been a more exciting time to take a sneak peak into the future of 2020 shopping.
Let’s dive with me right here to see the effects of technology on shopping.
1. AR / VR will Redefine our Shopping Experiences
AR, VR and Artificial Intelligence are the next big thing for 2020. These are powerful tools in the wave of technology that are reshaping the shopping process for the customers. Customers want to have a visual representation of the object before they set in to make a purchase. Thanks to AR & AI, there are now a number of AI apps that let you see and feel before you actually decide to buy.
AR is no longer a far-flung idea in 2020. According to a recent report by Lumus Vision, “In 2020, 71% of the users would prefer to visit a store that offers Augmented Reality experiences”.
To best clarify it, AR / VR is a live perspective of a real-world object that is supported by computer-generated inputs for example, sound, video, illustrations or even GPS. Shopping experience can be enhanced by utilizing AR apps to effectively imagine the thing they are considering to purchase.
Toyota has recently launched an immersive AR feature to try out their cars without even downloading any mobile app. Customers can smell their new car without having a key. The customer journey has been made flawless with such high-tech experiences.
The concept of Smart Mirrors has also drawn the attention of shoppers who tend to shop 7 times more than regular shoppers who just browse through the sales floor.
Looking forward in the year 2020, it is expected that Smart VR Glasses will be the next big thing. A huge opportunity for marketers that would facilitate the customers for a convenient shopping process. Retailers could likewise intercede when a customer looks at an item and present an offer that is aligned to his own inclinations and preferences. So, AR / VR based decisions will definitely redefine the shopping choices in the years to come.
2. Brands will Focus more on “Frictionless Shopping”
Frictionless or “Distributed” shopping means more easy, seamless and hassle-free shopping experience with buyers’ interaction with the brand. Technology is enabling the customers to expect higher than ever from the brands. We anticipate this word ‘frictionless’ to be evolved over time in 2020. Brands will have to reshape their marketing efforts as aligned with supply chain, advertisements, logistics, etc to deliver frictionless experiences to their customers.
In 2020, frictionless would be more than just smooth process. It will be about personalization, curated experience, quick delivery, easily accessible content transfer and responsive complaint handling and just out-of-the way experiences.
Social platforms like Instagram shopping, Facebook and Pinterest Shop the Look offer marketers an opportunity to decrease obstacles and create insightful refined techniques so as to prevail in this new purchasing voyage. This is just the tip of an iceberg, we assume.
3. An Amalgamation of Retail & Social Shopping will Drive More Sales
Social shopping and E-commerce have already taken the lead and it is expected that e-commerce will reach 15% of all retail sales by 2020. The proliferation of digital transformations such as Visual Search and social shopping are going to soar in 2020 as well. Electronic Retailing or E-tailing will be zeroed in to drive more sales for the brands. Having the option to snap a picture of a dress you see somebody wearing in the city – to tap the accessory that your favorite blogger is holding in a recent social media post – this technological trend will take shopping to the next level. Once more, AI is paving the way for these innovations, and making things possible like visual search and AI Chatbots.
From a holistic point of view, social shopping through Instagram and Pinterest are so mainstream these days. However, we can imagine it to grow at a rapid pace in 2020. The wave of social and retail integration along with AI and machine learning is definitely going to impact our shopping trends.
4. Varied Payment Options will Attract More Customers into Shopping
The rise of digital trends in shopping sector has lessen the number of brick and mortar stores. This has further open doors for varied payment options such as “Buy Now; Pay Later” and pay through your mobile phones. Owing to the need of technological advancements, these payment options will get traction in the year 2020.
Additionally, this tech trend may attract the shoppers (especially Millennials and Generation Z) for frequent buying due to the ease of paying through their mobile devices while sitting at the comfort of their homes.
Also, with regards to “Buy Now, Pay Later,” it’s been discovered that shopping trends are evolving that enable customers to pay in installments and lift up their living standard.
A Look into the Catwalk of the Future
In a recent Consumer View Report by National Retail Foundation (NRF):
“It is stated that 89 percent of those who have tried in-app store navigation would try it again, along with 88 percent of those who have used smart dressing rooms, 86 percent for augmented reality, 83 percent virtual fit and 82 percent virtual reality. The report also found that 69 percent of those who have tried mobile payments have been satisfied, along with 67 percent who have bought an item online and picked it up in-store and 63 percent who have used self-checkout.”
Therefore, the landscape is continuously emerging and leading towards a more digitally transformed world of shopping with tons of features, devices and gadgets to make shopping an enjoyable and convenient journey.
Closing Thoughts
So, where will the digital age take us to? With evolving use of AI, and best utilization of consumers’ data, we can merely anticipate multi-faceted impacts of digital transformations in the shopping industry.
It’s possible that with the right use of technology, we could get items in just a few clicks and much faster than now with drones or driverless cars. We can hope that shopping will be high-sounding with the implementation of AI, AR and VR etc. in all the realm.
Almost certainly, influencer marketing will stay prominent, and even evolved in 2020. Due to the fast speed of innovative progressions, it’s difficult to foresee precisely what’s around the corner, however, we still anticipate a whole new world in 2020 as far as shopping is concerned.
Guest article written by: Bianca is a content creator & a passionate blogger. She is a tech blogger by profession & an avid reader by soul. She loves to explore topics related to news / technology, marketing and particularly content transfer. In her free time, she enjoys travelling and penning down her thoughts with a cup of coffee.
Very well written though. Thanks for sharing!
The article is engaging and worth reading with relevant links and examples.
I enjoyed it.