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Retail Trends Consumer Trends You Can’t Afford To Miss!

October 4, 2018   By: Esther Cole

 

Adapting with innovative trends is crucial to surviving and thriving in business. You can’t settle for what everyone has been doing all this time, as there’s a need to provide better solutions that make people’s lives better. We’ve got these tidbits from Ericsson’s Top 10 consumer trends that you need to know. You might be able to tap into these opportunities to put your business game to the next level.

#1 Your Body is the User Interface

Imagine waving your hand and things open up in your space. Sounds like a thing of magic or in movies, right? Digital technology is beginning to operate in human terms. More than half of current users of intelligent voice assistants say that we will use body language, intonation, touch and gesture to interact with tech. 2/3 of respondents say that they think this will eventually happen in five years. Perhaps this is indeed the kind of magic that we imagined but never thought possible before?

#2 Augmented Hearing

In the near future, we might use wireless earphones all day long, and sleep with them too (enter Joaquin Phoenix from the movie Her). 63% of consumers would like headsets that translate languages in real time. And get this – 52% would want to block a family member’s snoring as they wear their earphones at night.

#3 Eternal Newbies

Learning is no longer just for school kids, as students and professionals have to keep on developing their knowledge and skills for life. 30% of respondents say that new tech makes it harder to keep their skills up to date, but it also makes them instant experts. 46% say that the internet helps them learn skills faster than ever. However, they’re learning skills for a moment that they may not remember later. It’s now about what particular skill set we need at the moment, before making way for new ones in the next scenario.

#4 Social Broadcasting

Social media might be a one way update for your loyal fans, but in the future this is set to change. 55% foresee that AI will soon be used to filter these messages which would cater more to their informational needs. Which brings us to the next trend…

#5 Intelligent Ads

42% of respondents say that AI will be used to create effective advertising. This may also come to the point that experiencing the products in augmented or virtual reality will replace the usual product promotions.

#6 Uncanny Communication

Sometimes, technology is exciting; but at times it can also be quite spooky. 50% of respondents say that not being able to tell the difference between human and machine conversations would spook them. 40% would also be scared by a smartphone that can determine their mood. In some way, this can also be a positive thing, as we develop better intuitive technologies that can improve our work and lifestyle.

#7 Leisure Society

1/5 students and working people think that robots will replace them in their jobs before they retire. However, this can also help them leave their jobs and find more meaningful activities. 40% say that they want robots that work and earn income for them, freeing up their time for leisure. Who wouldn’t want that?

#8 Your Photo is a Room

This might be just a thing from Harry Potter movies, but imagine being able to walk into a room and relive a memory! 3/4 believe that in 5 years, we will use virtual reality from our smartphone photos.

#9 Streets in the Air

Streets might be crowded with traffic at the moment, but what about making the most out of the free space up there? 39% of respondents think that their city needs a road network for drones. Take for example the initiative done by JD.com on delivering packages in rural areas through drones.

#10 Charged Future

We are living in a digital world, and everything is getting more connected than ever. 56% of advanced internet users say that they expect smart battery technology to power everything from smartphones to cars. More than 80% also believe that in only 5 years we will have long-lasting batteries that will put an end to charging concerns.

We are Already in the Future

The future of retail and tech innovations is exciting, but we can expect these developments to be happening now and on their way to becoming more mainstream.

How will you evolve with these innovations and also contribute it?

How can your business adapt to these trends so that you can keep pushing for better results and ROI?

Join industry leaders and the who’s who in retail in the upcoming New Retail ’19 happening at MCEC Melbourne. The three-day event will be an enriching immersion that will equip you in driving your retail business to success. Book your seats now or partner with us. You’ll also get a 10% discount on the next retail event when you sign up for our newsletter.

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