A research company says a rise in AR, VR, and 'crowd-based capitalism' are among the top global trends leading up to 2020.
WGSN has released a white paper identifying the three global drivers set to reshape the consumer landscape in 2020.
According to the researcher, the transformative force of 5G on mobile means 'm-commerce' (or mobile commerce) will dominate in the future.
Its take-up will accelerate mass adoption for augmented reality (AR) and virtual reality (VR) experiences, and further impact consumer engagement.
By 2020, m-commerce is set to make up half of all online purchases, with projected global sales reaching $250bn, according to the 2017 UPS Pulse of the Online Shopper study.
Crowd-based capitalism is a new economic model that will have long-term effects on government regulation, civic planning, the future of work, and regional growth.
Crowd-based capitalism will emerge as a force to be reckoned with, as more consumers use activism to ensure their money stays local.
From the rise of local crypto-currencies to corporate wealth care (companies’ long-term action within the community), 2020 will see commercial growth closely aligned with the economics of caring, according to the report.
“We expect technology companies to be more ethical and responsible, especially when it comes to artificial intelligence (AI)," the report stated.
"Many experts believe 2020 will be the era of hybrid intelligence – human intelligence (HI) plus artificial intelligence.
“Anxiety has reached critical mass and people will lean towards selective apathy to cope.
“More importantly, notions of perfection are being challenged, giving rise to apathetic subcultures and behaviours”.
WGSN suggests companies will need to redesign their assets to live on multi-platforms (mobile, desktop) and surfaces (smart glasses, VR screens).
They will also need to act to embed their ‘values’ into the economic value chain at a local level, as this will be the difference between growth and stagnation in 2020.
A growing number of consumers will be opting for brands that adopt sustained and measurable positive action within their own communities.
