The future of shopping: what's in store?

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The pandemic has upended the way people buy—online retail has soared as high-street shops and malls close. Brands are now racing to exploit one of the most important weapons in the battle for buyers: their customers’ data.

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I really like these videos that The Economist creates for YouTube. It’s nice to see how these concepts can be packaged in a more digestible format.

learningwisdom

Consumer to manufacturer - destroyer of companies/brands. "That's really cutting out even the brands. So the factories start dealing directly with consumers". No one is talking about this. This is monumental.

shesaidsomething

Idk I don't get a kick out of buying stuff, I feel kinda guilty and ashamed when I buy stuff, I always get buyers remorse

hydrangeadragon

Based in China. Here we have great e-commerce however it also causes many retailer stores to shut down. I do enjoy the convenience of e-commerce but sometimes we got fooled by pics of beautiful models and the quality of clothes is a big issue. This was when I realized the importance of retailer stores where I could touch and feel the material and see if it fits me. However many of them did not survive after the pandemic. So it is a dilemma now.

wangyi

People will ask themselves in the near future 'why are there a lot fewer jobs in the Service Industry and almost no small businesses'?
Is it too hard to understand that supporting Amazon and shopping Online drives more nails into the coffins of these local businesses?

dannyhughes

Its so easy to be negative. I don’t see any wrong with companies study high level preferences, nothing secret. Love the engagement and personalized options more relevant to me. Its awesome! Welcome 21century!

mariazunker

One action needed to keep my business alive is to open and sell online as well as at store!

gghh-swvf

Companies should politely ask for our input and throw some discounts. Instead of buying the data from companies who are spying on us. It is more honorable and probably cheaper

prilep

I'm looking forward to Amazon Yesterday Shipping!

FrayAdjacentTX

I'm so glad I'm too poor to get scammed by data scientists! They've studied so much for nothing, it feels so rewarding!

ruttolomeo

Online is great, but retailers must not underestimate how much shoppers prefer to engage with other people face to face.

luxushauseragency

In China shipping costs are a fraction of US costs while products cost are about the same for name brand is one reason it’s growing faster there.

johnl.

Incredible video. I really loved the insights shared here. It gives me more and more certainty that is very important to take care of the digital data we receive from our customers. It can be the way of growth or silent death in this market.

naterciagomes

This 14-minute video could be summed up in two words, "user data." User data has been the future of shopping since the mid-2000s. Tell me something I didn't know. For example, HOW will shoppers buy in the future? And I don't mean a hybrid online/offline retail experience.

kxmode