Have you thought how the future of online shopping will play out? The online shopping continues to evolve everyone from customers and retailers to owners and stakeholders.
Technology has made customers experience richer and more simple. The rapid evolution of ecommerce has allowed businesses to focus on their online presence, and not just in-store shopping experience.
As the digitalization is reaping profits for retailers, the e-commerce boom is likely to shape an amazing online shopping experience for customers.
According to World Economic Forum, future investment in tools that better engages customers with personalized experience will increase exponentially.
Recently, World Economic Forum released the probable transformation of online shopping in 2027. Below are the 8 ways online shopping will change in the next 10 years.
1: Hyper Personalized Customer Experience
Sensors and digital devices will create hyper-personalized customer experience in the future. Since the majority of the sales being performed online, digital stores will generate customer’s online activity and years of past purchase data to present personalized suggestions.
2: Fall in Retail Jobs
As the digital shops will prevail throughout the world, demand for retail jobs will decrease dramatically. Furthermore, the check-out staff is expected to decline within the stores while jobs for business security and a technical side will persist.
3: No Scanning or Queuing
Yes! No more scanning of each item or queuing in line at checkout counters. In future, checkout will be done remotely when you leave the store with your chosen items. With the help of customer data and artificial intelligence, the retailer will connect with customer account via an app on their mobile phones to complete the transaction.
4: Auto Delivery
No need to burn fuel or calories anymore. In few years, routine household purchases will be automatically delivered via drone, right at your doorstep. The order is expected to get delivered within few hours, or even minutes, as drone technology can speeds things up.
5: Specialized Stores
Customers will continue to avoid grocery shopping from big supermarkets. The trend is likely to shift in favor of specialized and smaller stores. The inclination towards more specialized outlets is due to increase in variety in the chosen category, hence it will draw more customers in future.
6: Online Sales Will Grow Rapidly
Online shopping has enabled people to shop from the comfort of their home and it is expected to grow further. According to reports, online sales will grow from around 10% today to 40% in next ten years. These figures are expected to go beyond 50% in some sectors.
7: 3D Printing of Items
3D printing will enable shops to create items on demand. This would result in more flexibility, less stock, and more customized products for final consumers. This should also allow many new, smaller companies to enter the market.
8: Virtual Reality
Most of the customers want to physically check the product before they buy. Virtual reality brings you close, but in augmented reality - which integrates real objects and projected images. Virtual reality will change both the shop and home experience. Potential buyers will be able to browse virtual stock before buying.
As retail continues to change, retailers around the world including Pakistan - must embrace digital change while taking the opportunity to improve the customer experience, delivery time and quality.
The front store is still important in the digital age, but only if retailers take an extra step of ensuring e-shops to give amazing customer experiences.