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Our hyper-connected world has been rewiring for the digital age for some time, through phones, laptops, the internet and social media. The COVID-19 pandemic has accelerated this digitalisation of our societies, including consumer behaviour. As stores closed and quarantines were imposed, the ‘digital first’ approach opened the virtual space for experimenting and creating online shopping experiences. Extended reality technologies include real-and-virtual combined environments and interactions generated by computer technology. It includes Augmented Reality (AR), Mixed Reality (MR) and Virtual Reality (VR). The increased amount of time spent in online spaces is allowing businesses to offer personalised shopping experiences easily, and allowing consumers to customise their own virtual world through the design of space and avatars etc. These possibilities are created by an increasing amount of data collected about the consumers, which in turn, is raising concerns about privacy.

Our digital lives

KEY TRENDS

Growing consumption