Shopping Trends from Around the Globe
As the world becomes more interconnected through technology, shopping trends have also become more globalized. What used to be limited to one’s local market now has a far-reaching impact on a global scale. From fashion to food to technology, the way we shop has changed drastically over the years. Let’s take a closer look at some of the shopping trends from around the globe that are shaping the retail industry today.
Influencers Driving Sales
In recent years, the rise of social media has given birth to a new breed of celebrities known as influencers. With a large number of followers, these individuals have the power to persuade their audience’s purchasing decisions. In fact, a recent survey by Rakuten Marketing revealed that 65% of consumers have bought something after seeing it on an influencer’s social media post. This trend has reshaped the advertising industry and has also had a significant impact on the way brands market their products globally.
The Rise of Online Shopping
The convenience of shopping from the comfort of one’s own home has led to the immense popularity of online shopping. According to eMarketer, global retail e-commerce sales are projected to reach $4.9 trillion by 2021. Online retail giants like Amazon, Alibaba, and eBay dominate this market, catering to consumers from all around the world. With the rise of e-commerce, traditional brick and mortar stores are facing fierce competition and have been forced to adapt to survive.
Conscious Consumerism
Consumers are becoming increasingly aware of their impact on the environment and society, leading to the rise of conscious consumerism. This trend can be seen in the rapid growth of sustainable and ethical brands globally. According to Nielsen, 85% of millennials are willing to pay more for products that promote environmental or social causes. This shift in consumer behavior has also led to the popularity of local and handmade products, as consumers prioritize supporting small businesses and communities.
The Emergence of Mobile Shopping
With the rise of smartphones, mobile shopping has become a significant trend in the retail industry. Mobile devices not only offer convenience but also enable retailers to provide a more personalized shopping experience. According to Statista, global mobile e-commerce sales are expected to reach $3.56 trillion by 2021. With mobile shopping, consumers can browse and purchase products on-the-go, making it one of the fastest-growing retail trends globally.
The Impact of Technology
Advancements in technology have also had a significant impact on the retail industry, shaping the way consumers shop. The rise of artificial intelligence has enabled retailers to analyze consumer data and provide a more personalized shopping experience. Augmented and virtual reality have also been incorporated into the shopping experience, allowing consumers to try products before making a purchase. As technology continues to evolve, we can expect to see even more innovations that will shape the future of retail.
The Growing Popularity of Cross-Border Shopping
The digital age has also made it easier for consumers to purchase products from overseas, leading to the rise of cross-border shopping. According to PayPal, cross-border e-commerce is projected to reach $1 trillion by 2020. This trend is mainly driven by the availability of unique and affordable products, access to global brands, and the convenience of online shopping. With cross-border shopping, consumers have access to a vast array of products from all around the world, making it a trend that is here to stay.
Conclusion
Shopping trends from around the globe continue to evolve, driven by advancements in technology and changing consumer behavior. The rise of influencers, online shopping, conscious consumerism, mobile shopping, and cross-border shopping are just some of the trends that are shaping the retail industry today. As we look towards the future, it’s clear that the retail landscape will continue to be transformed by these global shopping trends.
