Wednesday, July 24, 2024
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    Two thirds of shoppers want wearable tech to shape their shopping experience, especially payments

    A surprisingly high 65% of shoppers would like technology such as smart watches to enhance their shopping experience, with 27% wanting retailers to enable one-click payments through a wearable device to make life easier.

    The figures come from PowerReviews’s survey of 1000 UK shoppers and 1000 US shoppers about technology and show that, despite smartwatch and wearables having a pretty low penetration, they are very much in the minds of shoppers as to what they can deliver.

    Of those who already own a wearable device, 34% use it for shopping, and 29% of those who plan to buy a wearable device in the next 12 months want the technology to help them shop.

    According to the study, consumers are excited about wearable technology, primarily because they believe this technology will make their lives easier, especially when it comes to shopping. Shoppers are interested in a variety of ways wearable technology can make shopping, especially in-store, more efficient.

    They also want to be connected. The study finds 88% of shoppers are already using technology to make purchase decisions and 60% now use their phone or tablet to research competitor products or services online before making a purchase and 45% surf a store’s website via their mobile phone to access reviews while shopping in-store.

    Interactions between shoppers and retailers are no longer linear as technology has rewritten the consumer behaviour and with it, the retail landscape. Most shoppers are already using technology to help make purchase decisions and many are open to new technologies that can enhance their in-store shopping experiences.

    While new technologies continue to make the path to purchase more complex by increasing the ways in which shoppers and retailers interact, they also create opportunities for retailers to deliver more targeted, context-driven product information, making their message much more effective.

    M-Payments Summit on 9 June in London will be closing with a look at how these new devices and consumer demands are going to shape mobile payments, leading off with a presentation “Charge to Mobile – Where next?” by Andrew Beurschgens, Head, Market and Competitive Intelligence, EE‬. There will then be a lively debate featuring Beurschgens, Claire McLaughlin, from the BBC and Mark Challinor from INMA. Sign up to attend here.

    Shoppers want in-store reviews and hyper-relevant information, with 35% of shoppers would be open to being sent push notifications containing information about products, discounts, or product reviews, as long as it helps them make the right purchase decision, saves money or helps enhance the overall shopping experience.

    Shoppers want ratings and reviews available when shopping online also available in stores and as a result, many shoppers have turned to their mobile devices. Beacons have emerged as a tool for retailers to deliver context-driven, relevant information straight to a shopper’s phone. Compared to the U.S., consumers in the UK are a lot more open to beacon technology (16% vs 35%), but there is still a need for retailers to demonstrate the value in these communications.

    “In-store and online shopping experiences can no longer be viewed independently. Today’s consumers want access to ratings, reviews and other product information whenever and wherever they’re making purchase decisions – whether online, via mobile device or in store,” says Matt Moog, CEO of PowerReviews.

    “Technologies like wearables, near-field communication and beacons are creating more ways for retailers to deliver this hyper-relevant and authentic information to shoppers, which will enhance the shopping experience, drive sales and create passionate brand advocates.”

    Click here for more information and to download the full report

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