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Top Five Digital Consumer Trends in 2018Friday, February 16, 2018 > 09:04:38
Global market research company Euromonitor International will discuss the latest tech-driven trends shaping commerce in the webinar “Top 5 Digital Consumer Trends in 2018,” on Thursday, February 22 at 9 a.m. CST. Michelle Evans, head of digital consumer research at Euromonitor International, will dive into five digital trends that continue to change the path to purchase.
Digital life converges in super apps
According to Euromonitor International, China dominates mobile internet subscriptions with more than 1.1 billion, approximately three times the US. WeChat is the top social platform globally with more than 1 billion users.
“Consumers, especially in Asia, have embraced all-in-one super apps, which combine all aspects of a consumer’s world into a single mobile platform, because they offer a cohesive experience,” said Evans. “WeChat is this revolution’s posterchild, giving the world a preview of where the internet is going.”
Data as the new currency
An explosion of consumer data has enabled companies to more easily forge one-on-one relationships through tailored experiences and recommendations. Technology will serve as the enabler in terms of gathering, analysing and disseminating new learnings to cultivate this story of one.
Keeping the tab open
The boom of subscription services, such as Netflix, is now reinventing other areas of consumption like food and beauty. With the forthcoming Internet of Things era, consumers may not make any conscious decision for certain purchase decisions like for replenishment products.
Mobile wallets going global
Leading mobile wallets are implementing the card networks’ playbook for global expansion, which follows consumers’ paths while on the go. China and the US are especially attractive with the two having the most mobile-based purchases through 2022, reaching US$2.1 million and US$1.6 million, respectively. As such, WeChat out of China and Apple Pay out of the US are going global with their core consumer group.
Outlets get their tech injection
Despite the growth in ecommerce, physical outlets remain a critical part of the consumer shopper journey. Retailers, foodservice operators and entertainment venues recognise this and are utilising various technologies to reimagine the experience.