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The more people connect, the more consumers expect brands to meet their needs and provide them with comfort in this digital environment. According to a report released by the National Retail Federation, 83% of consumers predicted convenience more than 5 years ago. In addition, this attribute provides a competitive advantage for retailers as 97% of respondents abandon purchases due to processing difficulties.
Modernization creates a context for digitization. In 2013, the sharing economy was valued at $ 15 billion, well below the traditional $ 240 billion operating model. However, by 2025, the two are expected to balance out each other and each have a market value of $ 335 billion.
This means that the requirements for geolocation, product configuration, virtualization, chatbots, Internet of Things, and cloud services are constantly increasing and brands have to adapt. To have full details on digitization visit https://hapticmedia.com/blog/fr/digitalisation/.
Smart home acceptance is also increasing: The International Data Corporation estimates 1.39 billion devices will be shipped by 2023. In the west, companies such as Amazon, Google, Apple and Samsung have created the Internet of Things and great smart home platforms.
In China, the market is run by big names like Baidu, Alibaba, Xiaomi. Smart and connected televisions, speakers, cleaning robots, lamps, thermostats, security systems, cameras and keys are part of today's everyday consumer life.
Although this movement is driven by big players, newcomers are also involved and developing compatible products and services. Innovation exploded. Digital evolution is a continuous process that is oriented towards consumer demand.