Prices could change multiple times in one hour.
Retailers will begin to test out "dynamic pricing" in stores, allowing them the same competitive advantage as websites like Amazon and Priceline.
"Expect to see incorporation of other data such as weather, competitive pricing and even items already in the customer's shopping cart.
Social feedback will factor into purchases.
Nordstrom recently launched a program where it displays merchandise that's popular on Pinterest more prominently. This will become more popular this year, as shoppers seek out reviews and opinions from other consumers.
The lines between online and offline commerce will blur.
Last year, eBay launched "digital storefronts" in New York and San Francisco that allowed customers to order items for same-day delivery.
Stephens says this is an easy way for retailers to impress shoppers.
"Not only do these installations add an element of surprise and variety for shoppers but they also allow brands to set up shop in opportune and often less conventional locations," Stephens writes. "They need no inventory and apart from periodic technical support, they require no staffing."
Media companies will start selling products.
The media's traditional role as an advertiser is shifting, and companies are starting to sell the products themselves. For instance, much of Harper's Bazaar magazine is already shoppable.
"TV shows will generate revenue by selling products, not merely advertising them—offsetting declining demand for the 30 second commercial," Stephens writes.
Traditional stores will have the same analytic intelligence as online.
"Their knowledge of who is in the store; where they move in the space; and the products they interact with, will all be instantly and continually calculated," Stephens writes. "When we walk into a physical store, our browsing history will follow us and inform our physical shopping experience."
Apple has recently implemented blue-tooth technology that senses who is in the store.
Summary:
Dynamic pricing could be introduced to Morrison's which could allow customers habits to dictate item prices as well as social feeds and interest could get lowered prices from popular products. The shopping experience needs to be simplified but also unique what services and features/assistance can be offered by Morrison's that customers can't experience elsewhere.
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