The data showcases that AI (artificial intelligence) is set to be leveraged to support shopping and fashion choices, with 81% of Gen Z respondents expecting AR (augmented reality) to enhance their experience. Additionally, the next generation of shoppers is also prepared to let robots take their measurements.
Most fashion shoppers won’t try clothes on physically, yet in-store experiences will trump online. More than half (52%) of consumers believe they will still shop in physical stores instead of online (33%) in 2041, yet less than half of Gen Z respondents think they will try on clothes as they currently do (44%). Instead, 40% want to use virtual dressing rooms, 18% AR, and 23% will leverage AI for advice on the clothes that best fit their body and fashion style.
AR to elevate future in-store shopping experiences. Most Gen Z (81%) and Millennials (75%) expect AR to improve their in-store shopping experience and a third (33%) believe the technology to eventually become standard throughout retail stores.
VR (virtual reality) won’t replace real-life shopping experiences. Less than half of Gen Z (41%) and Millennials (38%) believe shopping in VR to come surpass real-life shopping experiences within the following two decades.
Well-mannered robot fashion advisors and virtual personal shopping assistants are in demand. Half of Gen Z (50%) are open to having a robot approach them in-store to take their measurements and recommend styles, with an extra 21% considering it based on the robot’s look and behaviour. Furthermore, 34% want access to virtual ‘personal shoppers’ that can offer recommendations based on their fashion style and taste when shopping online.
Increased personalisation at the top of the wish list. 70% want a future shopping experience that is increasingly personalised, and 42% believe it to become a reality both in-store and online.
Cashless future. Consumers of all ages (54%) are in agreement with the prediction that most physical stores are to be entirely cash-free in 18 years’ time, with 33% of Gen Z believing the change to take place in 5 years’ time.
The Future of Retail report also includes predictions from worldwide retailers and ChatGPT, the AI chatbot developed by OpenAI, with whom Klarna partnered in March 2023 to bring hassle-free shopping to ChatGPT.
52% want increasingly sustainable fashion in the time to come.
51% want the circular economy to take a larger share in the shopping industry, and 1 in 3 believe they will sell (28%) and buy (31%) pre-owned items more frequently.
David Sandström, Chief Marketing Officer at Klarna said that in the Western world, almost 80% of online purchases are made through search, whereas the remaining 20% are based on personalised recommendations, as opposed to China, where 80% of online purchases are driven by personalised recommendations.
Per their statement, the study confirms that Western shoppers look for a comparable shopping experience, which is available on the Klarna app feed, powered by AI and purchase history data. The official added that the next-gen of consumers expect an increasingly personalised shopping experience where they are found by the products as opposed to the other way around.
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