Global market research company Euromonitor International recently revealed the top five digital trends defining commerce this year.
Digital wellness, autonomous outlets, voice, customer-led experiences and the expansion of super apps will have the most impact on commerce in 2019.
According to the company, for the first time ever more than half of the global population will have internet access this year. However, consumers are emphasizing a balance between time spent online versus offline, becoming more intentional and selective of their digital activities.
“Increased connectivity combined with technological advances has created massive upheavals in consumer expectations, lowered the barriers of entry for fast-moving companies and inspired new digital-first commerce avenues,” said Michelle Evans, head of digital consumer at Euromonitor International.
In 2019, autonomous outlets will continue gaining traction as companies invest in this technology to enter new channels and develop innovative business models.
The company says voice commerce, which accounted for only 1 percent of online purchases in the U.S. last year, will increase to 5 percent by 2023. With voice-enabled devices becoming mainstream, companies should prepare for new use cases to emerge and integrate these functions into existing strategies.
Improving the customer journey is the top concern for business leaders in the coming year, according to Euromonitor International’s Digital Consumer Industry Insights Survey. Technology will help companies deliver truly curated, personalized interactions, putting consumers in control of their shopping experiences.
Super apps—mobile apps that combine several features into a single platform—are going global with consumers and companies embracing their multifunctionality.
Euromonitor International further exploring their impact in a webinar on Thursday, Feb. 21 at 9 a.m. CST. To register for the webinar, click here.
