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Seems like it wasn’t so long ago when we were talking about top trends in 2019, and now it is already 2020? Come to think of it, it has already been a decade since 2010!
Time really does fly, doesn’t it? That’s why, it is important for businesses, tech companies, and advertisers to stay ahead of the game in this fast-changing world.Back in 2017, there were 7000 retail stores that closed including Toys R Us and just recently, Forever21. This is the digital age and failing to adapt innovatively may cause you to lose your business.Speaking of which, here are the top three 2020 Tech Trends you should definitely watch out for:
China holds the crown when it comes to retail digitalization and utilizing artificial intelligence. Their WeChat or Weixin with over 1 billion active users, emerged as the most integral app that they use for communicating, shopping, and reading news. Here are some examples of how they used WeChat and AI to provide a personalized experience for their consumers:
-Burberry snatched their consumers’ hearts with a 24-hour flash sale on WeChat. Their 2019 Spring/Summer runway items and monogram sneakers were made available for one day. Half of the products were already sold out before the sale was over!
-SKII opened its Future X Smart Store in Shanghai, it utilizes AI for facial recognition for personalized skincare recommendation. There was a smart booth that scans and analyzes the skin to provide personalized recommendations.
- Alibaba made restrooms fun by bringing in retail experience through a mirror. It shows different ranges of products you can “try” on to see which color is fit for your lips or cheeks!China and Alibaba has coined the term “retailtainment” and “entertainmence ” These are terms intended for experiential marketing and merged entertainment + eCommerce. Despite the rise in digital, 90% of young consumers preferred in-person experiences. Retailers then had to think of creative ways to merge the two.
Alibaba live-streamed n 8-hr fashion show in TMall. The audience can buy the items as they are being strutted down the runway. This “see now, buy now” approach is now being utilized by more than 300 platforms.Automated stores and eCommerce are only some of the tech-based experiments happening in China. Retailers are now finding a way to incorporate tech into their physical stores.
For example, there’s this local coffee company named, Luckin Coffee. It designed its spaces around online ordering. It uses data to find where to locate its stores and which set-up will work best. Resulting in a large of spaces designed for delivery-only while other customers can come and pick up the drinks they’ve ordered in advance.
4. 2020 and Technology
Among those trends of digitization, experiential shopping, and influencer marketing, the core remains at technology. Constant innovation and improvement based on metrics on data will elevate your company’s growth.
There’s no perfect time to start your own eCommerce website than now. With affordable website development services, iRepublic can help you prepare for the future! Every project we handle is a creative collaboration between our digital masterminds and our clients’ entrepreneur champions. Contact us: https://www.irepublic.ph/contact