Global research firm Euromonitor International has released a new webinar titled, Top 5 Digital Consumer Trends in 2018. PMQ watched the presentation, given by Michelle Evans, global head of digital consumer research for Euromonitor International, and we’ve included highlights for you below.
According to the webinar, there are now 3.6 billion global internet users (48% of the world’s population), with 53% of those users saying they’d be lost without the internet.
There are eight internet megatrends, according to Evans, with the following three affecting commerce:
- Connected Consumers
- Shopping Reinvented
- Experience More
Evans says that technology serves as an enabler of all of the above trends, with 28% of connected consumers using a phone to compare prices in-store on a weekly basis.
The 5 Most Impactful Tech-Driven Trends that will Reshape Commerce in 2018
- Digital life converges in super apps. Super apps are multi-functional, all-in-one apps, like China’s WeChat, that allow you to take care of utility, lifestyle, finances, retail and communication all from one app. The US doesn’t have a comparable app to WeChat yet, but we’re working on it.
- Data as the new currency. Companies that possess the most data are now seen as the most valuable (think Apple, Microsoft, Amazon, Facebook). Using this data, consumers expect brands to craft individually tailored experiences.
- Keeping the tab open. This refers to growth of subscription services and the spread of them into industries such as entertainment, beauty and foodservice.
- Mobile wallets going global. As consumers travel more, payment networks continue to expand. Evans says that $3 trillion in payments are expected to be made via mobile device in 2022 across the 47 countries where Euromonitor International conducts its research.
- Outlets will get their tech injection. In retail environment we’ll see things like NFC tags, virtual and augmented realities and 3D imaging, and in restaurants, we’ll see tabletop payment, self-serve taps, and more technology overall.
How will you use this new information in your pizzeria this year?
To view the full Euromonitor International webinar, click here to access the webinar page.
