Buy now, pay later growth is expected to accelerate in 2023, according to Bluedot.
Logistics is the new customer experience.
That’s one of five key trends expected to take hold in 2023 according to customer arrival platform Bluedot, which also forecasts that buy now, pay later (BNPL) will continue to gain momentum and that malls will look to attract customers with electric vehicle charging stations.
"In the coming year, expect to see the customer experience continue to be redefined,” said Emil Davityan, Bluedot co-founder and CEO. “Online shopping might feel a little more like walking into a store with large retailers focused on merging and blurring the online and offline customer journey into one experience.”
Bluedot’s retail trends and predictions for 2023 are below:
- Malls will attempt to lure customers by adding more EV charging stations. Demand for charging stations is steadily increasing as more and more consumers invest in electric and semi-electric vehicles.
Given that charging EVs can take 30 minutes or more on a fast charge, there's a strategic opportunity for malls to increase foot traffic by offering consumers the convenience of charging while shopping at the mall. Charging discounts may even be offered to lure shoppers.
- Buy now, pay later will continue to gain popularity. As the cost of living rises, BNPL has become a go-to for consumers as a way to better manage their expenses and an alternative to credit cards.
To attract younger customers, especially Gen Z, retailers will put more emphasis on BNPL both online and in-store to help ease consumer cost restraints. Adobe Analytics found that revenue share for BNPL grew 9.2% during the 2022 holiday season compared to the 2021 season.
- More retailers will offer sustainable shipping options. When it comes to online purchases, consumers are more environmentally conscious than ever before, particularly with how purchases are delivered.
Retailers will offer more transparency and more environmentally friendly-shipping options such as longer delivery windows that provide added efficiency and reduce carbon emissions.
- Logistics is the new customer experience. As more consumers turn to mobile and online shopping, the pressure is on retailers to get the delivery experience right. Retailers will begin to focus on smaller footprint stores as they turn focus to order pickup and delivery whether that's in-store, curbside, or at home delivery.
- Powered by technology, the online and offline customer experience is becoming one experience. Brands recognize that the customer experience doesn't stop once a mobile order is placed or when a customer leaves the store.
Highly valuable contextual data that captures customer behavior, preferences, demography, location, and more both on- and off-premise will enable marketing to make more actional decisions and deliver a consistent and seamless customer experience whether that's on a mobile device, in-store, or a combination of both.
“This is not just a seamless handoff between online and offline, but a full engagement integration at the technical level, ultimately delivering bespoke customer experiences,” noted Bluedot.
Bluedot is a customer arrival platform that empowers brands to provide real-time interactions and pickup solutions. The company's location technology identifies exactly when and where a user arrives whether that's entering a store, pulling into a curbside pickup space or at a parking lot.