Shopping via QR Code, advertisements and promotions delivered by social networks or even sales started directly on these platforms and campaigns led by influencers. Retail is in full transformation – and there is no way back. Consumer behavior has changed drastically in recent years, and this evolution only tends to intensify. Especially because, at the center of this revolution, three forces shape the future of the sector: technology, personalization and conscious consumption. Together, these trends have been redefining buying patterns and forcing companies and brands to rethink their strategies to win and retain the public – fundamental assets in an increasingly competitive market.
And of course, technology has been the major driving force behind these changes. From artificial intelligence to automation, through digital platforms and augmented reality, recent innovations have made the shopping experience much more accessible, faster and efficient, something that has been appreciated by the public. According to Opinion Box, consumers' 86% believe that new features improve the buying process. For companies, the benefits are also evidenced in numbers: a survey by the Brazilian Society of Retail and Consumption shows that 74% of retailers registered an increase in revenue with the adoption of new technologies. Thinking about a future, which doesn't even seem that far away, the expectation involves the advancement of even more sophisticated solutions, such as virtual assistants, predictive algorithms and stores without boxes.
Personalization is a direct reflection of this constant technological advance. From the use of big data and predictive analysis, brands today can better understand the consumption habits of their consumers and offer products and services increasingly aligned with their preferences. With this, tools such as loyalty programs, applications and purchase history are enshrined as valuable sources of information that allow more assertive interactions. the result? a closer relationship between brands and consumers and greater loyalty. Even because of this potential, the big data retail market, which should move US$ 6.38 billion in 2024, could reach US$ 16.68 billion by 2029, according to Mordor Intelligence.
But convenience and customization are no longer enough. With consumers more attentive to the environmental and social implications of their purchases, the sustainability factor has received a new level of importance in the retail world. Today, companies that adopt ecological practices, supply chain transparency and recyclable materials are better positioned to conquer this new generation of consumers. Such a movement, again, is supported by numbers. According to the National Confederation of Trade in Goods, Services and Tourism (CNC), consumers' 58% value socio-environmental seals and certifications.
However, it is always worth noting that being “green” cannot be just an advertising speech. With information increasingly accessible, consumers can easily identify brands that just want to surf under environmental marketing without actually changing their practices. To avoid the greenwashing trap and ensure credibility, companies need to implement real and measurable actions that are not just in the words.
The great current challenge, therefore, is to find the balance of these three strategic pillars in a coherent way. Brands that manage to combine the elements effectively, creating innovative and responsible shopping experiences, will definitely come out ahead within a market that becomes more competitive almost daily. The future of retail does not just sell more due to the quality of the product or service. As much as all this remains important, offering solutions that are aligned with the expectations and desires of the modern consumer assumes a role as relevant. In the current dispute for the public, technology, personalization and sustainability are the three cards up their sleeve for those who want to stand out.
