1) Augmented reality
According to Forbes, 2020 will be the year whenit will no longer be necessary to see, touch, or try a product in personto feel confident enough to buy it. And all this thanks toaugmented reality.
The idea is that buyers can get a more realistic idea of the product before purchasing it, so that their expectations are not disappointed. This is one of the major problems in the retail sector: it is estimated that 25% of products purchased online end up being returned.
In addition,augmented reality technologyis also improving, with companies such as Microsoft already launching second-generation devices that will enable a more immersive experience.
2) Ultra-fast shipping
Today's consumers want it all, and they want it now. Thanks to Amazon Prime, online shoppers are no longer willing to wait more than a day or two to receive their products. In fact, studies show that88% of consumers are willing to pay for same-dayor even fasterdelivery.
Delivery times are accelerating so rapidly that it is difficult to predict how far we can go. The latest development,Amazon Prime Air, promises to deliver products in 30 minutes or less.
Customer preferences are very clear, but the question is whether small businesses will be able to keep up with giants like Amazon. The good news for them is that third-party logistics companies are already emerging that allow businesses of all sizes to offer ultra-fast shipping.
3) Ease and customization
Today's consumers not only want to receive their products quickly, but also want to be able tofind all the informationabout them in one place: prices, styles, delivery dates, recommendations for related products, etc.
To make this possible, artificial intelligence plays a fundamental role in the digital retail sector. Consumers continually leave us clues about what they like and how much they would be willing to pay for it, and the savviest retailers are able to gather this information from different sources and process it using machine learning technologies to facilitate and personalize the shopping experience.
The moralofthe story formarketing directorsand brand managers is that it is essentialto invest now in advanced analytics platformsthat can harness the power of machine learning and artificial intelligence. This will enable them to get to know their customers much better and offer them the right deals, on the right channel, at just the right moment.
4) Social shopping
One of the main directions in whichdigital transformationis heading is to offer a seamless experience, thanks to technologies such as image search and social shopping. For example, users want to be able to take a photo of a dress they have seen on the street and buy it directly from their mobile phones.
The pioneeringsocial shoppingplatforms to date have beenInstagramandPinterest, but more and more opportunities are emerging tointegrate social shoppingfor both online and offline retailers. For consumers in 2020, shopping will always be just a click away.
A very interesting twist on this trend is thecombination of social shopping and artificial intelligence. For example, we could take a photo of an outfit and have the system recommend accessories that are ready to buy, perhaps even taking into account the items we already have in our closet. There are undoubtedly a lot of interesting possibilities to explore.
5) The combination of reality and virtual reality
According to Forbes' predictions, the future goes even beyond augmented reality. Over the next year, we will seean increasingly blurred combination of real, virtual, and digital elements, in what is known as Web 3.0.
Virtual fitting rooms are an obvious idea for the retail sector, but this trend goes much further. Users will be able to experience their favorite brands' advertisements firsthand, try on the clothes they like, and coordinate different virtual experiences. For example, a bride-to-be will be able to try on different dresses and walk around the wedding venue wearing them. We may even see paid virtual experiences that become another source of income for e-commerce.
