The evolution of technology will dictate how the consumer of the future will shop, says Michelle Evans, global head of digital consumer research at Euromonitor Research, who was the keynote speaker at this year’s Hong Kong Gifts & Premium Fair.
“Super-apps are forcing the evolution of consumer expectations with data the world’s most valuable commodity, seen as the new driver of winners and losers over the next decade,” Michelle told delegates. “Some 28% of connected consumers already use their phones to compare goods or services, with shopping about relationships,” she confirmed. “Keeping the tab open will ensure a constant revenue stream, with mobile wallets going global for consumers on the move.”
Michelle predicts that consumers will continue to expect brands to craft individually tailored stores, with retail outlets receiving an injection of technology, and AI playing a key role in enabling brands to do this.
“The future will include using a mobile phone to enter a store, with mobile technology continuing to track consumers, culminating with shoppers paying with their mobile,” Michelle explained.
Other trends highlighted by Michelle included the rise of digital convergers in super apps enabling a new breed of competitors. “This will change who owns what re customer relations and will force an evolution of consumer expectations,” she stated.
Top: Michelle Evans, global head of digital consumer research at Euromonitor, is shown addressing delegates at the recent Hong Kong Gifts & Premium Fair.
