Technological advances in 2020 will continue to influence how consumers conduct commerce both inside and outside a merchant environment. Leveraging Passport Digital Consumer data and analysis, this report explores the top five digital trends that are expected to redefine commerce most in 2020.
The ubiquitous connectivity brought forth by mobile internet, in particular, has led to substantial shifts in how consumers live, work and shop. While much has been written about the rise of mobile commerce, 2020 will mark the first time that more than half of all digital spend globally will be executed using a mobile device.
While still largely conjecture, when industry observers look back on what drove the uptake of passive commerce, they are likely to point to 2020 as the turning point. This is because this was the year that major appliance makers targeted for selling connected appliances across all price points.
The commercial trade-off in terms of data has become more of a concern for consumers, owing to privacy regulations that have come into effect in key markets. Companies are responding by either aligning their branding to appear more privacy conscious, or launching privacy-orientated products and services.
As new digital marketing channels and tools have emerged, brands have unprecedented access to consumers. These same tools, particularly social media, have the potential to amplify any brand missteps, however. Brands should stay true to their core values in their digital marketing to minimise risk.
Consumers increasingly evaluate their purchases based on delivery and fulfilment options. In 2020, companies need to build a suite of delivery and collection options for consumers to choose from in order to remain competitive, as more consumers increasingly weigh convenience, financial and environmental costs.
Operators worldwide continue to upgrade their digital networks to provide higher quality services, with the arrival of 5G a key feature of developed markets. It is anticipated that 2020 will be a key year in terms of commercial pilots and roll-outs, which are needed to drive forward other technological developments.
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