THE DIGITAL TRANSFORMATION OF SHOPPING
This week’s newsletter is looking at at the current trends that are powering shaping how we will be shopping in the future. From Amazon’s dominance to the rise of augmented reality, from algorithmically-driven purchasing to last-mile delivery, from voice-command consumerism to drones at your doorstep—our tastes and expectations for the shopping experience are radically changing.
1 – Technology has evidently transformed the customer service, the operational process and the business models of contemporary retail companies. There are nine elements which are crucial in understanding how and they are laid out clearly in this infographic.
2 – How will we be shopping in 10 years?
Here are a few things you can expect to see based on current technology that’s in the works.
3 – Algorithms curate our daily online feeds, the search results and the advertisements we see. Have you given anythought on how they curate everything we buy?
6 – At the same time, we have seen since 2017 that influencer marketing has been the fastest growing and most cost-effective channel for brands. One of the peculiar consequences of this phenomenon is that influencers are beginning to fake brand ads.
4 – Chatbots are predicted to tackle 85% of customer service interactions by 2020. Here are 15 of the best one out there now.
5 – What’s more, Amazon files a patent to allow customers to pay with a selfie, and this video will further explain that it’s not the first to try this concept.
7 – If this topic is really of interest to you and you would like to explore further, maybe start this free online course, that goes through the underlying economics of innovation, technology, and market disruption.
8 – BONUS: The Future of Online Retail
More next week!