New data released today by Klarna, the global payments and shopping service, reveals how retailers will need to adapt their offering to win shoppers in the future. With recent advancements in technology, AI, AR and robots are likely to dominate the in-store and online landscape with shopping services like Klarna already integrating AI personalisation into their products.
Over the past 18 years, Klarna has been instrumental in driving transformative change within the retail industry, during which time the online retail industry in the US grew as a percentage of retail sales by 484%*. To celebrate the brand reaching this milestone year, Klarna spoke to more than 5,000 consumers across 5 countries and teamed up with retail expert Kate Hardcastle, MBE, aka the Customer Whisperer, to explore how the future of shopping could evolve. The Future of Retail report also includes future-gazing predictions from some of the world’s leading retailers and ChatGPT, the artificial intelligence chatbot developed by OpenAI, which recently teamed up with Klarna to bring smoooth shopping to the hugely popular ChatGPT.
The study examined shopping habits 18 years from now, when Gen Zers will turn 40 and together with Millennials be the dominant consumers. Results revealed their predictions on how emerging technologies will influence future shopping experiences, such as:
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More personalization is top of the wishlist.
65% want the shopping experience to become more personalized in the future, and 36% are sure it will be, both in-store and online.
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Most fashion shoppers won’t try clothes on physically.
Only half believe they will try clothes in the same way as today (53%). Instead, 48% want to use virtual dressing rooms, 28% Augmented Reality (AR), and 23% will rely on Artificial Intelligence (AI) to advise which clothes best fit their body and fashion style.
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