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Insight of the Day: 28% of consumers don’t expect retail tech to be available anytime soon

Key Takeaways:

  • Limited adoption: Despite the rapid emergence of new retail technologies, a significant portion of shoppers (45.2%) haven't used any in the past year.

  • Social commerce leads: Social commerce (27.2%) and live shopping (25.8%) are currently the most popular retail technologies among consumers.

  • Low expectations: 28.7% of consumers don't anticipate the availability of these technologies in the near future.

  • Augmented reality interest: The highest interest for future use is in augmented reality (32%), followed by virtual shopping assistants (28.6%).

  • Social commerce decline: While currently popular, interest in social commerce may decline over time, with fewer people expecting brands to offer it in the future.

Implications for Retailers:

  • Focus on adoption barriers: Retailers should address the reasons behind the low adoption rate of retail technologies, such as lack of awareness, concerns about data privacy, or perceived complexity.

  • Invest in promising technologies: Retailers should prioritize investments in augmented reality and virtual shopping assistants, as these technologies show the most potential for future growth.

  • Monitor social commerce trends: While currently popular, retailers should be aware of the potential decline in social commerce interest and adapt their strategies accordingly.

  • Educate and engage consumers: Retailers should educate consumers about the benefits and ease of use of these technologies to encourage adoption and improve the overall shopping experience.

Overall, the findings suggest that while there is growing interest in retail technologies, there are still significant hurdles to overcome in terms of adoption and consumer expectations. By understanding these challenges and focusing on the most promising technologies, retailers can stay ahead of the curve and create a more engaging and personalized shopping experience for their customers.

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