The Future Of Shopping

The Impact of Modern Technology

Modern technology has impacted numerous sectors including retail. This has resulted in many retail lotions closing as the future of shopping shifts to e-commerce. This has placed pressure on the remaining retail locations to adapt or become extinct. Many consumers are choosing to shop online using a computer or mobile device as opposed to visiting a physical store. The expectations of augmented reality will become more sophisticated and impact the online experience. This technology will enable consumers to see exactly how different items will look in their homes. Making purchases online is expected to be voice activated to make the experience even easier.

The Social Experience

The physical retail locations are expected to make the shopping experience of the future along the lines of a town square. The expected offerings include a selection of restaurants and entertainment facilities including theatres, concert halls, electronic and virtual reality arcades and bowling alleys. The retailers must find a way to not only attract new customers but to ensure the existing customers want to return. Many stores are expected to become guide shops where the consumer touches the product they desire and can be educated by the sales associates. Retailers are also expected to use new technologies to obtain more information about their customers, personalize the experience and revolutionize their marketing.

The Independent Locations

The number of independent stores is expected to increase despite the number of retail locations that have closed. The combination of the cloud and mobile based solutions will make it easy to open a new store with a fairly small investment. The option of making a purchase online and picking it up at a retail location is expected to gain in popularity. This will combine online and offline purchases and is tentatively being called click and collect. Checkout lines and cashiers may be replaced with artificial intelligence. This will enable consumers to charge their purchases when they leave while alleviating long lines and wait times.

The Themes

Themes are expected to play a larger role as time passes. This includes flexible payment methods, enhanced customer service, mobile wallets and mobile systems available at the retail locations. Drones are being developed for faster delivery, technology is decreasing the time necessary for product development and environmental and ethics consumer concerns will be addressed. Data security will substantially increase and jobs may be lost to artificial intelligence. The Internet of Things or the connection of devices will become essential for retail operations due to the dramatic increase in the number of consumers shopping with a portable device.

The New Models

The new generations are not interested in the methods used for traditional marketing. This has caused a retail renaissance leading to a disconnection of the consumer experience. Retail is expected to use data as a means of expanding commerce to reengage the consumer. The behavior of the modern consumer makes digital technology necessary for any retail business to survive. The behavior and requirements of the consumer will be analyzed regarding their preferences in the future. This will require new technologies including faster speeds, more convenient purchases and the deployment of physical locations.

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