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5 Ways Technology Will Shape Your Buying Habits in 2017

2017 is set to be a year of technology-driven marketing to enhance the customer experience. As well as the enhancements it brings to UX, the technology presents an exciting opportunity for retailers to capture additional customer data and improving conversion rates.

Below we discuss the top 5 technologies creating waves this year.

Virtual reality

Virtual reality (VR) will be a $30 billion market by 2020. Considering that 71% of consumers feel more engaged with brands that promote VR experiences, expect to see a lot more of it this year.

At the moment, the technology is most effective for content. For example, companies like The North Face film a 360 video of a mountain climb in Nepal

Consumers can use a VR headset attachment (which some companies like McDonald’s sometimes give away for free), allowing them to experience that Nepalese virtual reality for themselves.

IKEA used the same approach, although more targeted for marketing purposes. This VR experience allows consumers to walk through an IKEA kitchen, open doors and even cook meatballs. Watch this space.

Wearable technology

A watch is no longer just a timepiece. Now it’s a phone, a credit card, a GPS. Similarly, sunglasses now double aspersonal trainers, cameras and music players.

When you hear people talking about the Internet of Things, they’re talking about the above. Ordinary items have become powerful computers connected to the internet, and the industry will hit $4 billion in 2017.

For consumers, this means they get greater value from their goods; for retailers, this presents yet another opportunity for personalised marketing. Campaigns can then be better targeted towards individual consumer needs and increase conversion.

3D product visualisation

In the past, eCommerce has suffered from one major impediment. No matter how many product images are offered, it’s difficult for consumers to properly visualise the item.

However, with the help of computer generated images (CGI), products have been given life. No longer are they bland packshots. Retailers can offer consumers detailed 3D images to scale. 3D product visualisation also gives consumers insight into the components of the product like this pocket watch.

Another exciting feature is the ability for 3D visuals to be personalised to the individual consumer. This creates an exciting opportunity for marketers and retailers alike.

Digital wallets

For brick and mortar stores, paying with the flash of a card has undoubtedly increased efficiency – but this technology hasn’t even begun to show its potential for eCommerce.

Consider you’re shopping online. Regardless of how smooth the retail process is, you waste so much time at the checkout. It then comes as no surprise that 78% of carts are abandoned, losing retailers billions in revenue. Avoid this by incorporating digital payment into your eCommerce strategy.

More and more consumers are using digital wallets when shopping online. This is essentially software which stores personal and bank information, and fills out forms at checkout, whether you’re using mobile or desktop. This improves efficiency and reduces shopping cart abandonment. Google, Apple and PayPal are all using it, and so should you.

Automated marketing

Personalisation is the key to standing out from the clutter. One report found that 94% of marketers agree, yet less than 10% of retailers use best practices.

One example is the humble email. Most emails come in, clog up the inbox and are never read. Why? Because they aren’t relevant to the consumer.

Simple personalisation techniques deliver six times higher transaction rates than regular emails, yet 70% of brands still fail to use them.

 

Luckily, if you’re not sure where to start, technology will help you. There are many platforms which assist in personalisation. For example, email marketing platform Listrak collects customer data and sends automated emails based on preferences and online behavior. These emails feature content and products relevant to individual customer needs at specific points of their buying journey – with this increased personalisation, open rates and conversion statistics skyrocket.

Give your business a competitive advantage by harnessing the power of technology. For more information about your business’ potential, get in touch with one of our technology specialists for a free consultation today.

 

With over 250 certified team members, eWave is the world’s most accredited Magento 2 partner. Unlock your potential, contact us.

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Leven
Developer

Feb 01, 2017