The tail end of the Millennial generation (born in 1995) is now entering the workplace and with that comes an associated disposable income. Given our understanding of how many younger people are prioritising experiences over ‘stuff’ – what are the implications on the way retailers invest in technology as they clamour for a portion of pay packets and brand loyalty in a retail environment characterised by choice?
Retailers have long understood the value of hearing the consumer’s voice; now it’s time to recognize the sound of it as well. But please, don’t recognize the face.
Black Friday is four months (and some change) away and retailers who have not yet turned their attention to peak spending season should do so now.
While it is not the time for major redesigns or replatforming, there is ample time to shore up security, optimize forms, consider alternative payment methods, cater to customers’ expectations and set up shipping options.
Fingerprint-enabled payments and voice-enabled ordering were ranked as the top two cool retail technologies by UK shoppers.
Like it or not, the way we shop is changing. Be it online or in store, consumers shopping experience has been given a 21st century technology makeover. From contactless payments to in-store chatbots, the way consumers search and purchase goods has been transformed.