The Future of Technology in Shopping: What to Expect in 2024 and Beyond

The Rise of Personal Shoppers and Multichannel Solutions


Date Published : 30th July 2024
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Future Predictions and Trends

The Future of Technology in Shopping: A 2024-2025 Outlook

The future of shopping is set to undergo significant transformations driven by technological advancements, changing consumer behaviors, and the increasing integration of digital and physical shopping experiences.

The Rise of Personal Shoppers and Multichannel Solutions

One of the most transformative trends in online shopping is the rise of AI-powered personal shoppers. These digital assistants aim to replicate the in-store personal shopping experience by providing tailored recommendations and addressing potential barriers to purchase in real-time. This hyper-personalisation is crucial as it can significantly reduce shopping cart abandonment, which in the UK reached 78.1% in 2023​ (Gartner)​.

However, the future isn't just about personal shoppers. Solutions like SOTpay are paving the way for seamless multi-channel shopping experiences. SOTpay's strategy addresses shopping cart abandonment by engaging customers through their preferred communication channels—be it telephone, email, SMS, WhatsApp, or social media. This approach not only nudges customers towards completing their purchases but also offers one-click checkouts across various platforms, enhancing overall shopping efficiency and customer satisfaction​ (McKinsey & Company)​​ (Learn Hub | G2)​.

Technological Innovations Shaping Retail

Several key technological trends are set to shape the future of retail:

  1. Mobile Commerce (M-Commerce): With the ubiquity of smartphones, mobile commerce is expected to account for a significant portion of all retail transactions. By 2025, m-commerce is projected to represent over 40% of all e-commerce sales. Retailers are increasingly adopting mobile-first designs and integrating features like mobile payments, push notifications, and location-based promotions to enhance the shopping experience​ (The Future of Commerce)​​ (Euromonitor)​.

  2. Voice Commerce: Voice-activated shopping is becoming more prevalent, with major retailers enabling customers to place orders via smart speakers. Optimising e-commerce platforms for voice search will be essential to stay competitive, as voice commerce is expected to grow alongside the increasing use of voice assistants​ (The Future of Commerce)​.

  3. Omnichannel Experiences: The seamless integration of online and offline shopping channels is becoming a necessity. Retailers that can offer unified experiences across physical stores, online platforms, and mobile apps are more likely to succeed. This includes the use of technologies like RFID and QR codes to streamline in-store experiences and enhance customer service​ (Learn Hub | G2)​.

  4. Data Analytics: Leveraging data analytics to understand consumer behavior and preferences is critical. Retailers must integrate data from various sources to provide a unified view of customer interactions, which can drive more personalised marketing and improve decision-making processes​ (Euromonitor)​.

Future Predictions and Trends

Looking ahead to 2024 and beyond, several predictions stand out:

  • Sustainability and Ethical Shopping: Consumers, particularly Gen Z, are increasingly prioritising sustainability and ethical considerations in their shopping choices. Retailers must adopt sustainable practices and transparent supply chains to attract these value-driven consumers​ (McKinsey & Company)​​ (Think with Google)​.

  • Augmented Reality (AR) and Virtual Reality (VR): These technologies are expected to become more prevalent, providing immersive shopping experiences such as virtual try-ons for fashion and beauty products. This can help bridge the gap between online and physical shopping experiences, making online shopping more interactive and engaging​ (Gartner)​.

  • Digital Payment Solutions: The adoption of digital payments is set to increase, driven by advancements in security and convenience. Solutions like SOTpay that offer secure and seamless payment options across multiple channels will be at the forefront of this trend​ (Learn Hub | G2)​.

The Future of E-commerce in the UK

In the UK, e-commerce is expected to continue its robust growth. By 2025, online shopping is projected to account for a significant share of total retail sales. Retailers will need to focus on enhancing digital experiences, offering personalised services, and ensuring seamless omnichannel integration to stay competitive in this evolving landscape​ (Euromonitor)​​ (Shopify)​.

In conclusion, the future of shopping is set to be defined by technological innovation, personalised experiences, and seamless integration of digital and physical channels. Retailers that embrace these changes and leverage solutions like SOTpay will be well-positioned to thrive in this dynamic environment.

For more detailed insights, you can explore resources from McKinsey, Gartner, and Euromonitor.

For a more seamless integration of advanced payment solutions into your business strategy, schedule a demo of SOTpay through the link below and start planning your future payment strategy today.

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Date Published : 30th July 2024
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About the author
Jason Mace  
Accelerating Business Success with Fast, Intelligent, and Seamless Card & Bank Payment Solutions
Jason Mace is a respected British author and award-winning CEO, known for his successful ventures in events, media, hospitality, property, and payment technology.

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