UK consumers see future of retail as buying with Bitcoin and drone deliveries

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In their survey of more than 1,000 office workers in the UK, Infomentum found that many believe technology will radically change the way we shop in the next few years, as it has done in the past few.

Today, consumers have come to expect on-the-go information thanks to smartphones, and they demand websites are easy to access. If not, 77% will immediately leave and go elsewhere, 89% will broadcast their negative experience on social media ad 89% will post a negative online review. Today’s consumers cite clear navigation (76%), speedy loading times (60%) and effective search functions (51%) as key to a good website shopping experience.

But, what about the future? New technology will, no doubt, dramatically change the buyer journey. In fact, consumers in the UK see several changes afoot. One in five would like digital currencies, such as Bitcoin, to become mainstream by 2020 and 15% want augmented reality to help them try before they buy. Another 16% expect 3D printed product downloads to be available by as early as 2020 and 14% would like to see drone deliveries.

“While this array of new technologies may seem daunting for many businesses, retailers must be prepared to think about how such tools are likely to impact their businesses at a long-term strategic level,” says Vikram Setia, partner and chief commercial officer at Infomentum. “Those that fail to develop the necessary technology roadmap, will have already fallen behind.”

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ABOUT THE AUTHOR

Kristina Knight is a freelance writer based in Ohio, United States. She began her career in radio and television broadcasting, focusing her energies on health and business reporting. After six years in the industry, Kristina branched out on her own. Since 2001, her articles have appeared in Family Delegate, Credit Union Business, FaithandValues.com and with Threshold Media.