Frictionless Checkout to 5G: Top 7 Things Grocery Will See in 2020
Nielsen has made its predictions for technology, CPG and retail for 2020, fueled by insights from its open, cloud-based Nielsen Connect platform. The predictions were revealed at the Gartner IT Symposium/Expo.
“From the transformative effect of 5G to the increase in frictionless commerce — all underpinned by trust and transparency — the consumer landscape will become increasingly complex," said Jeanne Danubio, president of Nielsen Connect, North America. "We are eager to continue providing our clients with the data to decide, thereby shaping a smarter market for our clients, in 2020 and beyond.”
The seven predictions are:
- Privacy concerns and misinformation will threaten brand credibility. Trust underlies the privacy, misinformation tug of war, and the torch must be carried by both businesses and consumers.
- Transparency will be tomorrow’s brand currency. Interest in what was previously considered "behind-the-scenes" information about a company’s operational footprint will become mainstream topics of conversation.
- Manufacturers will produce locally to win globally. With the duel impetus of tariffs and consumer alignment with locally sourced products and waste reduction, manufacturers will face increased pressure to produce locally, import fewer goods and search for economic differentiation.
- Smart supply chains will anticipate and react to consumer demands. Brands and retailers that win the 2020s will succeed not based on their front-end pricing and promotion analytics, but the granularity and end-to-end depth of their data science.
- 5G will revolutionize the Internet of Things (IoT) for retail. With 5G, the IoT finally becomes a mainstream reality, providing end consumers with access to more data at their fingertips with virtually no response delay, and it'll transform smart packaging and delivery.
- Time and trust will dictate consumer relationships with retail. Increasingly frictionless commerce in both a click and brick world will change the game for retail. Speed and convenience will drive behavior — and every millisecond reduced is a battle won.
- Try-before-you-buy will come into consumer homes. Augmented reality (AR) technologies will improve, and 5G will indirectly reduce barriers to entry, based on the shift to cloud and enablement of smartphones to be AR devices. Yet AR can also improve the brick-and-mortar experience with special in-store promotions accessible via smartphones.