If retailers have learned anything in recent years, it’s how to stay resilient in a disruptive economic environment. There’s no doubt that the road ahead won’t be easy, but Google’s goal is to help retailers and brands navigate the uncertainty .
To achieve this, the company partnered with Kantar and Bain to analyze shopper behavior. Together, they identified 4 key trends that will characterize the retail sector in the next 3 to 5 years.
Shopping has become an environmental experience
Today’s consumers move between digital, physical, virtual gambling data usa and social platforms, seamlessly transitioning from browsing to research and purchase. This omnichannel shopping behavior will continue to evolve as it moves from a discrete task, where people search for a specific item on a specific channel within a defined time frame, to an ambient experience.
People will discover new products and services while browsing social media, streaming video or playing video games. So the next phase of commerce effective influencer marketing strategies will be less about consumers’ choice of channel, but rather about how closely retailers can get closer to consumers and the places where they spend their time – spaces where demand, discovery, choice and consumption occur.
Retailers must therefore consider how they want to appear as the lines between commerce and content blur even further. Experiences based on augmented contact lists reality and virtual reality, along with shoppable videos , will become increasingly important as consumer appetite for technology-based shopping experiences increases.
Younger shoppers are currently the biggest adopters of technology tools
They are 2-3 times more likely to have purchased using emerging mediums such as social media, virtual try-ons and live streaming.
The right customer and the right message will be a moving target. Marketers must rely more on Artificial Intelligence (AI) to stay agile and quickly adapt to the continuous changes in channel touchpoints and content selection. Solutions like Performance Max campaigns (powered by Google AI) can help marketers maximize performance across all Google channels.
As brand loyalty fades, the value of associations grows
Brand loyalty will take a backseat as shoppers choose companies and products that better align with their personal values and requirements. In fact, consumer expectations around personalization are growing, with 73% of shoppers expecting brands to understand their unique needs and aspirations.