Trends In Retail Technology And Consumer Spending

By  |  October 14, 2020
 | 
Trends In Retail Technology, Consumer Spending

Data shows a cautious population living paycheck to paycheck, ready for conservative holiday spending. In retail, the need to simplify, integrate and bring gift card and loyalty programs online to maximize their impact has never been greater, while consumer engagement has the power to remove retail friction. And sellers are adopting biometric-based verification and artificial intelligence (AI) technologies to attract shoppers and keep fraudsters away. All this, Today in Data.

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    Data:

    75%: Portion of organizations that will utilize a single vendor for identity orchestration features by 2023.

    70%: Share of customers who abandon purchases because of a bad user experience.

    18.7%: Portion of consumers who will spend more this holiday season than they did in 2019.

    15K: Minimum number of SMBs using Factor4’s online platform to streamline and revamp their gift card and loyalty programs.

    7.9%: Rate of unemployment in the United States.


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