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- Amazon Kindle Edition
- Michaelsen, Gregg (Author)
- English (Publication Language)
- 86 Pages - 01/16/2014 (Publication Date)
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List of Top 10 Best Experimental Psychology Books In Detailed
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The Future of Shopping: How to Choose the Best Experimental Psychology Books Product In 2023
The future of retail is here and it’s going to be quite different from how you shop today. The pace of change is accelerating, and the future of retail is already starting to take shape. From online shopping to storeless shopping and omni-channel retail, consumers are looking for new ways to shop. In this article, we’ll explore the future of retail and how it will impact your shopping habits in the year 2023.
Why will the future of retail change in 2023?
The way consumers shop is changing and will continue to change in the year 2023. Consumers are moving away from traditional department stores and big-box retailers in favor of more personalized shopping experiences. This is likely to continue in 2023, with consumers turning to ecommerce and direct-to-consumer (DTC) methods like their smartphones.
Online Shopping Will Rule the Future of Retail
Online shopping is going to continue to be a big part of our retail future in 2023. According to a report, the ecommerce market is expected to reach $ 4,834 billion by 2023, growing at a CAGR of 17.6% during the forecast period. Ecommerce will contribute more than 25% to the total retail sales. The report also predicts that India will lead the pack with a share of almost 12% followed by China and the US with 7.4% and 5.6% shares, respectively.
Virtual Reality Will Be a Big Part of Future Retail
Virtual reality (VR) and augmented reality (AR) will see an upswing in usage in 2023. Nowadays, with the growth of smart devices, it’s easier than ever to incorporate VR and AR experiences into our shopping trips. VR and AR allow consumers to view detailed product information, shop from a different perspective, or try on clothing from different angles.
Augmented Reality Will Change How We Shop
Augmented reality (AR) will be a growing trend in shopping in 2023. AR is the use of computer-generated information with the help of technology such as computer vision, local databases, and GPS. AR will be implemented at various stages of a product’s lifecycle, from design to marketing.
Artificial Intelligence Will Make Smart Shopping Decisions for You
Artificial intelligence (AI) will play a larger role in the future of retail in 2023. AI can be used to make smart shopping decisions based on an individual’s purchase history. For instance, an AI-based engine can determine what a consumer usually buys for a certain gift occasion and suggest appropriate gift items. This can help save time while ensuring that the right gift is chosen.
Omnichannel Retail Will Change the Way Consumers Shop
Omnichannel retailing will become more important in 2023. Nowadays, consumers expect to be able to shop anywhere, anytime—and on any device—and have their purchases delivered to their doors. This is likely to become even more important as major retailers begin to offer home delivery services.
The future of retail looks very different from the past. Online shopping will be a primary source of shopping, and VR and AR will play an important role in how we shop. Consumers will shop more often using the delivery service of their choice, and omnichannel shopping will become the norm.
In order to best navigate the future of retail, you’ll need to keep abreast of all the changes. Stay ahead of the game by following our blog and joining our email list today!