“In the future, there will be a split of the way consumers shop: buying will be about artificial intelligence (AI) enabling automated services and shopping will be about actively seeking for experiences,” said Helen Merriot, partner, of EY.
Citing new research by EY titled ’The future consumer 2030 frame’ at the WIRED Smarter event this week, which analysed customers in cities including the UK, Shanghai, Mumbai and San Francisco, Merriot said that the study looked at how customers will evolve with the rate of technological advancements.
Merriot said the analysis took a holistic approach to have a full picture of a ’future customer’ to help businesses structure their strategies accordingly.”We’ve asked a group of futurists and retailers about how consumers’ behaviour will evolve including their eating, spending habits to reflect the wide frame of their habits.”
The 2030 customer
“The new decision tree will not be online or offline shopping – it will be about ‘do I buy’ or ’do I look for more’ experience and convenience?” continued Merriot.
Will customers have more power over retailers?
“Yes, they will. In the last…