Raydiant’s new series, the Future of Shopping, interviews experts and thought leaders with a goal of better understanding what organizations can do to prepare themselves for what lies ahead.
The following is an interview we recently had with Paul Miser, CSO at Icreon.
How Has Consumer Shopping Behavior Evolved Over the Past 5 Years?
There is definitely a massive shift in consumer shopping behavior over the last five years. I have noticed there’s a huge change in the way consumers approach shopping than how they did earlier. It has almost become a second habit for us to increasingly look at a brand’s offerings and reputation that are important differentiators for shoppers..
This is a good thing as it pushes the brands to deliver a unique and seamless shopping experience. It simply means – you have to bring the best as more brands are bringing their best selves to serve the customers.
What Are the Top 3 Trends Shaping the Way Consumers Shop?
The top three trends that I see are:
An explosion of technology has been the driving force for unique brand experiences by bridging the gap between what is and what could be. Traditional shopping experiences are being translated into digital ones with platforms like Obsess and Bitreel.
The abrupt and rapid digital acceleration has brought a significant shift to customers’ lives and buying behavior. From contactless and app-enabled approaches instead of interacting in a store to the checkout process – these personalized and digitally-led experiences have become more familiar and meaningful in our day-to-day lives.
There are no more moments of truth as the retail landscape has become more personalized for each customer. This has shaped purchasing behavior by offering a seamless shopping experience and active value in customers’ lives.
What’s the Future of Shopping?
The future of shopping lies in providing an unmatched buying experience with greater value. With technology advancements, buying behaviors, and expectations, retailers now have the golden opportunity to connect with customers like never before.
VR shopping has become popular now. For instance – ‘Immersive Commerce’ has minimized the real pain of shopping with its seamless capability consisting of AR and VR. Immersive technology is now creating the perfect virtual shopping spot by bringing photorealistic 3D products to us. This AR experience has a real impact as it makes it possible to experience every aspect such as size, shape, or color of the products like furniture, apparel, and even cars.
What are 3 Actionable Steps an Organization Can Take to Prepare for The Future?
The three key steps that can be taken to prepare for the future are –
Learn – Take a closer look at the “why” of your brand and business. Know how your brand’s ecosystem maps to what’s really required to have the edge over others.
Strategize – Take a walk in your customer’s shoes. Clarify the moments in your customer’s life and define the most persuasive ways to meet there at the right moment.
Deploy & Iterate – Create the digital and physical infrastructure that addresses your customer’s intent. Jumpstart your brand ecosystem for customers to fulfill their unique needs.