5G will advance payments and mobile commerce
Summary List Placement Though still in the early stages of rollout, 5G technology could bring about positive changes to the retail industry, as retailers seek to maintain their digital transformation efforts and bring consumers safely back into stores in 2021. Retailers will use their IT investments in 5G to enhance the customer experience, both in-store and online. As noted in our December 2020 report "Future of Retail 2021," digital-first retail experiences with zero-touch checkout will become more commonplace this year. There''s already significantly higher consumer interest in mobile payments and mobile app orders: 30% and 28% of US consumers expressed interest in those respective technologies in a June 2020 survey from Periscope By McKinsey, both up more than 10 percentage points from similar polling in March 2020. The industry can also expect frictionless stores of the future to proliferate, as digital-first retail experiences such as Amazon Go continue to expand. Amazon Go, a cashierless convenience store concept featuring its patented Just Walk Out technology, is continuing to expand its footprint.
5G will advance payments and mobile commerce
Summary List Placement Though still in the early stages of rollout, 5G technology could bring about positive changes to the retail industry, as retailers seek to maintain their digital transformation efforts and bring consumers safely back into stores in 2021. Retailers will use their IT investments in 5G to enhance the customer experience, both in-store and online. As noted in our December 2020 report "Future of Retail 2021," digital-first retail experiences with zero-touch checkout will become more commonplace this year. There''s already significantly higher consumer interest in mobile payments and mobile app orders: 30% and 28% of US consumers expressed interest in those respective technologies in a June 2020 survey from Periscope By McKinsey, both up more than 10 percentage points from similar polling in March 2020. The industry can also expect frictionless stores of the future to proliferate, as digital-first retail experiences such as Amazon Go continue to expand. Amazon Go, a cashierless convenience store concept featuring its patented Just Walk Out technology, is continuing to expand its footprint.