E commerce is a relatively new market entry, but it has already changed the way we do business. While brick-and mortar retailers still hold a substantial market share, the pace of change will undoubtedly lead to the rapid demise and disintegration of those who don't adapt. Many trends are already changing the landscape of ecommerce. Understanding them will help ensure your business's success.
FAQ
What do teens buy most?
There's a lot of data on consumer trends, but none is actionable for us. We took a look at all the data. We wanted the data to show us which products or services teens had purchased. Then, we looked at how these purchases have changed in the past.
Even we were surprised at the results. The results showed that teens are quite frugal when shopping. They spend more money on clothes than any other category except books. They also spend more money on technology than any other age.
Teens also spend a lot on tablets, smartphones, and computers. The devices were bought by nearly $2 billion in total by children aged 13-17 last year.
But what stands out is that while they might be spending a lot on electronics, they aren't spending much on apps. Apps are less than 1% in teen smartphone usage.
This means that most of them use smartphones to surf the internet. They use Snapchat and Facebook. They are avid gamers on Xbox, PlayStation and Nintendo.
They use their smartphones to make calls, view videos, and listen to music.
Now that's an interesting trend because it suggests that teens are increasingly relying on their mobiles, which makes sense given that they spend more time online.
They also spend more time viewing TV. Teens watch TV more than any other age, apart from those aged between 5 and 9 years.
There are many factors that TV users turn to. It's easier for them to control. They tend to stick with traditional media, despite having access to many digital options.
It offers more variety. It's a joy for children to switch channels.
Finally, it's just plain enjoyable. Teenagers love being able interact with characters onscreen, whether they're talking to their favourite celebrities or exploring new worlds where heroes can be found.
All this aside, they don't like the quality of what they're viewing. According to a survey by Common Sense Media, 90% of parents say they'd prefer their kids watch less TV if it meant better shows. Two-thirds say their kids would rather play video than watch TV.
This shouldn’t come as a surprise. We know from experience that children who watch more TV are more likely than others to become obese. That's according to new research from Harvard University.
It found that for children aged 6 to 11, each hour more TV was associated with 2.5 points higher BMI.
Maybe it's high time that we start thinking about ways to get our kids off of screens. We should ensure that our children have healthy snacks and drinks.
Perhaps we should encourage them instead to engage in sports. According to the latest statistics, physical activity is declining in all age groups. So we must do something about that.
Good news! There are many ways we can improve young people’s health. You just need to look at the evidence.
What are your predictions for the fashion industry by 2023?
The future is unpredictable. Fashion is unpredictable. But there are two trends that we can expect to see continue. The rise of athleisure is one. Athleisure is already gaining popularity, from yoga pants to shorts and tanks to sweatpants and sweatshirts.
It's not only clothing brands who are adopting casual styles. These styles are becoming more popular among athletes. Athleisure clothing is also becoming more popular among athletes, such as Serena Williams, who wore one while she was playing Naomi Osaka in tennis.
The growing demand for personalized products is another trend. Nike and other brands have begun to make shoes that are custom-made for each customer.
As technology advances, we'll likely see more developments in wearable tech. The way we shop could change. As self-service kiosks become commonplace, we could see the rise of mobile apps that allow us to customize our outfits.
How will COVID-19 affect consumer behaviour?
We all know that consumers are not buying as much right now. This doesn't mean people won't want money to spend on themselves in future.
Shopping is a fun activity, so now is a good time for you to go shopping. Shopping may be something you enjoy more than ever.
Although there are less people in malls, you still have many options. Remember to be safe and follow the social distancing guidelines.
Make sure to wash your hands frequently. That simple step can help prevent the spread of coronavirus.
Now that you've seen some trends shaping retail's future, let's take a closer look at what's happening.
How is mobile changing the fashion industry?
Mobile devices are getting more powerful every year, we know. Today, they can take pictures, record videos, play music, and even surf the web. It makes sense that mobile phones can be used to check out outfits.
You can use them to check the fit of a gown before you purchase it. Others use them to take pictures of themselves in front a mirror.
Don't forget to take a picture of your phone if you're considering buying a new clothing item.
Virtual experiences will continue to grow after the pandemic.
Today's world is connected more than ever. We communicate faster, share more information, and collaborate with others across borders.
Technology continues to advance, which will impact the way that we interact with each others and our environment.
This is the next frontier in this evolution. Virtual reality (VR). Virtual worlds are changing how we do business, learn, play and explore.
VR may sound like a great idea for consumers, but it has concerns about potential abuse by vulnerable users.
Experts warn that VR headsets could become another tool for cybercriminals to lure unsuspecting victims into scams and phishing attacks.
This means you should review the terms of service and privacy policies of any headset manufacturer before buying.
It is also important to make sure you choose a reliable company.
Review sites are a great place to start your research. Ask friends and family for their opinions. If someone is trying to sell you a product, chances are they'll say it's great. Make sure to look at independent websites that provide detailed reviews.
Many companies include terms and conditions of service and privacy policies in their packaging. This makes them easy for customers to review and find.
If you aren't satisfied with your purchase, contact the retailer right away.
How does technology impact the fashion industry The answer is: lots of changes.
We see a shift towards digital stores from physical ones. eCommerce will also become more popular.
We are also seeing changes in the way shoppers interact with retailers. They will shop any time, anywhere. But they will still like to feel special when shopping in a store.
Retailers are adapting and creating new ways for customers to interact with them. So, for example, they offer mobile payment systems that allow shoppers to pay while they shop. Apps are also available that enable shoppers to search for new items in the store.
Shoppers are becoming more demanding. They are more than content to browse through catalogues and websites. They want the opportunity to actually experience products. So retailers are opening pop-up shops, hosting events, and launching pop-ups to give shoppers a chance to try out new products.
Statistics
- 56% of respondents stated they held off on traveling for major entertainment events last year, but have plans to return to these events this year.1 (americanexpress.com)
- Nearly 30% of consumers have started their holiday shopping, though 55% say rising inflation has altered their gifting and spending plans for 2022. (junglescout.com)
- 70% of parents surveyed agree that in 2022 they are planning to take their first international trip with their children since before the pandemic. (americanexpress.com)
- While 19% of respondents state they didn't travel in the past two years, other families' favorite experiences included: domestic travel (19%), beach resorts (12%), road trips (11%), international travel (10%), staycations (7%), camping (6%), and more.1 (americanexpress.com)
- and what they are traveling for, with 78% of respondents wanting to impact the community they visit positively.1 Eating & Shopping at Small businesses (americanexpress.com)
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Where Are Most Travelers Heading in Summer 2023 (and Why)?
For summer 2023, most tourists will be looking for cheaper destinations than the last year. There are however some surprises.
Egypt, which is experiencing an explosion in tourism, is the most popular destination this summer. Its rich cultural heritage and beautiful scenery are likely to explain this popularity.
Another surprising trend is that visitors are moving away from Europe. While Europeans may be heading to Asia and North America, Americans will choose Canada and Mexico. These two countries provide great value and beautiful natural environments.
However, it is not all bad news. Few surprises are found in regard to the most expensive locations on the planet. We expect them to remain the same.
These places attract fewer tourists overall, even though they are more popular than the average tourist.
According to our predictions, Switzerland's international tourist numbers will drop below 50 million by summer 2023. A decline is partly due to the recent terror attacks that made the country feel unsafe.
This is a significant change from the past ten year. The number of international tourists visiting Switzerland in 2003 was 150 million.
Although the Swiss government has been working hard to reverse this trend, the country may struggle to recover unless they make changes.
They could, for instance, encourage foreign workers not to take jobs away from residents but instead encourage them to emigrate.
Or they could increase taxes on luxury goods such as yachts and private jets.
Oder they could reduce prices so that people can travel to Switzerland.
There are many options to improve the situation.
Book Now to Take Advantage of the 2020 Coronavirus Crisis and Go Abroad!