The 2010s saw many business trends begin to take shape. There was an explosive growth in the use of smartphones and great advancements in technology. The rabid use of social media has also transformed the way brands relate to customers.
These business trends have set the 2020s up to be even more consumer-centric. Here are some trends that will continue to take shape this decade.
Voice Shopping & Sonic Branding Will Continue To Take Shape In The 2020s
Voice has been on the rise over the last few years and it shows no signs of slowing down.
“For example, Wal-Mart recently announced a partnership with Google that would allow their shoppers to order products via voice shopping through Google Home, a voice-activated assistant. A similar partnership was also struck between Home Depot and Google, which goes to show that voice shopping is definitely a growing trend to keep an eye on for retailers.” – iperceptions
Sonic branding will become a common term. Many businesses will develop their own sounds or “sonic logos”. This means that consumers will be able to recognize popular brands by their sound alone.
Here are some examples that demonstrate the power and influence of sonic branding.
Virtual Reality (VR) & Augmented Reality (AR) Will Continue To Take Shape In The 2020s
The growth of interest in Virtual Reality (VR) and Augmented Reality (AR) has increased significantly over the last few years.
Here’s a quick run-down of the difference from iperceptions.com:
- “Virtual Reality is a computer-generated environment that can be viewed and interacted with using a VR-compatible headset.
- Augmented Reality is the overlaying of computer-generated graphics over real-world environments with the use of a mobile device, like a mobile phone or a tablet.”
Companies have spent the better part of the last decade educating customers about how they can integrate tech into their lives. Now they are going to reap the rewards of this investment.
From online shopping experiences that let you ‘try’ on clothes, to the ability to remotely ‘see’ how furniture fits into your home, the 2020s will see more brands embracing virtual and augmented reality as a way to keep customers satisfied.
Sustainability & Ethical Sourcing Will Continue To Take Shape In The 2020s
Growing trends in ethical sourcing have many believing that 2020 will be the year of sustainable business.
The demand from customers for ethically sourced products has increased. This is largely due to the rise in social media use. It’s no longer just a matter of saving the environment. Sustainable living has also become something of a status symbol.
“For many shoppers… choosing a sustainable product is a personal priority and they want people to know it. It’s called Social Signaling, a theory that we buy certain things because of what they say about us to the people around us.” – Business Insider
As companies try to humanize their brands and come across as more “woke”, they will be making efforts to appear authentic in the eyes of consumers. Whether it’s a sincere effort to live more thoughtfully, or a just marketing ploy, the 2020s will no doubt be a decade where ethical profits become an even greater priority.
Personalization Will Continue To Take Shape In The 2020s
Overall personalization will continue to dominate in the 2020s. Learning algorithms are already getting better at recognizing what customer attributes they should focus on.
“The first stage of the digital shopping revolution saved consumers time and money by letting them buy things they already wanted without having to go to a traditional retail store. A major part of the second stage will likely be a dramatic refinement of technologies that tailor recommendations and then scour the internet for the best deal.” – Harvard Business Review
These new customer experiences will bring new challenges. The businesses that thrive in the 2020s will be the ones to solve them.
“The phrase ‘customer experience’ gets a lot more play than it did in the business world in the past… Customers crave personalized, frictionless experiences and companies are sprinting to deliver them.” – Forbes
These trends are being shaped by the customer. Increased consumer demand, paired with emerging technology will continue to shape trends this decade.
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