Personal computers first acquainted consumers with the concept of shopping online. In the last decade, the popularisation of smartphones introduced consumers to any time, anywhere commerce. Technological developments will continue to reinvent commerce in the years to come. This report explores the five most influential technology-driven trends that will reshape commerce in 2018.
Technology continues to play a critical role in the evolution of society, including the upheaval of consumer-facing industries. This digital connectivity has altered all aspects of life, including how consumers live, work, shop and play.
A super app is a do-everything mobile app, with the best ones combining all aspects of a consumer’s world into a single platform. China’s WeChat, with its one billion users, has become this revolution’s poster child, and along the way gave the world a preview as to where the internet is going.
Data is now considered one of the most important commodities. An explosion of consumer data has enabled companies and brands to more easily forge one-to-one relationships with end-consumers by offering tailored experiences. Cultivating the “story of one” will be the cost of entry for brands in the future.
Subscription models are not new. However, the concept of asking consumers to keep the tab open received a digital injection of sorts and spread to other industries in the last decade. In the forthcoming Internet of Things era, the idea of keeping the tab open will take on a new meaning.
Some of the leading mobile wallets are taking a page out of the card networks’ playbook for global expansion by following the path taken by consumers in motion. Ensuring consumers could utilise certain payment methods while traversing communities and eventually borders was a key driver in building ubiquity.
Commerce is in the midst of a head-to-toe makeover, including physical outlets. Despite all the headlines about consumers shifting toward online channels, it is important to remember that physical outlets remain a critical part of the consumer journey, whether it is in terms of brand engagement or purchasing execution.
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