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Future of Consumption

In: Future Intelligence

Author

Listed:
  • Karine Sargsyan

    (Cedars-Sinai Medical Center, Cancer Center
    Medical University of Graz
    Yerevan State Medical University)

Abstract

The development of the Internet and the ubiquitous technologization of retail have become one of the fundamental driving forces transforming the whole picture of the world. Changing the essence of the product—changing retail and changing end users’ expectations and novel comprehensive real world are affecting customers online behavior, where and exactly how they choose and buy, and the very concept of a product. The new paradigm of the customer journey, that very “relationship” with the customer, provides a wealth of opportunities to justify the value of their product. Technology will not only facilitate convenient and fast shopping but increasingly satisfy the customer’s curiosity inclined to experiment with new products. The source of these metamorphoses will be the solutions of the future: predictive analysis, processing, and collection of big data, virtual, and augmented reality; machine vision; cashless experience; intelligent loyalty programs; a unified shopping experience in all channels; possible content distribution; built ecosystems; speech technologies; blockchain; and many other solutions that seem to us still a curiosity, but this is already a wonderful present, which is actively used by many.

Suggested Citation

  • Karine Sargsyan, 2023. "Future of Consumption," Future of Business and Finance, in: Tamás Landesz & Sangeeth Varghese & Karine Sargsyan (ed.), Future Intelligence, pages 123-131, Springer.
    • Handle: RePEc:spr:fuobcp:978-3-031-36382-5_11
    DOI: 10.1007/978-3-031-36382-5_11
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