As the holiday season approaches, the excitement of festive celebrations brings with it a unique challenge for consumers: how to navigate the multitude of shopping options available. The Information and Communication Technology (ICT) sector has undergone significant advancements in recent years from mobile apps and VR to e-commerce and m-commerce, revolutionizing the way consumers shop.
In this article, we’ll explore how advancements in the ICT industry are shaping holiday shopping. We’ll also highlighting key trends seen in e-commerce technology that are likely to transform the way that consumers shop during the festive season.
The Digital Transformation of Retail
In the past decade the retail industry has undergone a significant change switching from brick-and-mortar stores to digital platforms. E-commerce has grown in popularity quite quickly as more and more consumers begin to enjoy the convenience of being able to shop online regardless of the time of day or their physical location which was not attainable with traditional brick-and-mortar stores. In addition to E-commerce comes mobile commerce (M-commerce). As smartphones and tablets grew in usage, so did those users’ need to conduct research, compare items and prices and eventually make payments using these devices as well. SellersCommerce (2024) predicts that retail ecommerce sales will account for 20% of total retail sales made in 2024. They also predict that this percentage will continue to rise in the coming years.
Personalization through Big Data
Because of the power of Big Data, retailers are now able to analyse massive amounts of customer data and are using this analysis to better understand their customers’ needs, wants, preferences, shopping behaviour and patterns in the industry. If used correctly, they can provide their customers with a unique shopping experience targeted to each individual customer. These targeting efforts can range from personalised emails to product recommendations that meet a client’s needs, increasing the likelihood of that customers making a purchase.
AR and VR
AR and VR are becoming widely used in a multitude of ways, including in the retail industry. Retailers are using the power of AR and VR to help their customers visualize products from the comfort of their own home. It could be a paint company showing consumers how certain colours would look on their actual walls, it could be furniture companies showing consumers what certain pieces would look like in their homes or it could be makeup companies showing consumers how certain makeup products would look on their faces, all from the comfort of their homes.
As ICT continues to advance, its impact on holiday shopping is undeniable. From e-commerce and big data analytics to AI and AR, these technological innovations are not only changing the way that consumers shop but are also enhancing their shopping experience overall. If businesses take this into account and use these trends to their advantage during the holiday season, they are likely to end the holiday season off with some excellent sales growth.
References:
Sellers Commerce (2024) 51 ecommerce statistics in 2024 (global and U.S. data), SellersCommerce. Available at: https://www.sellerscommerce.com/blog/ecommerce-statistics/#:~:text=The%20global%20eCommerce%20market%20will,reach%20%248%20trillion%20by%202027.
