Over the past decade, retailers launched smartphone apps and optimized their websites for mobile devices. Today, many are dabbling with next-gen shopping solutions like voice shopping on smart speakers, virtual reality (VR) shopping apps, and pop-up stores.
Blackhawk Network recently found that many Generation Z shoppers -- defined as folks born between 1995 and 2015 -- were willing to use these newer shopping solutions on a monthly basis.
Data source: Blackhawk Network. Chart by author.
That's good news for Amazon (NASDAQ: AMZN), which controlled 61% of the U.S. smart speaker market in January, according to Voicebot.ai. Amazon is also reportedly developing a VR shopping app, which could turn its online marketplace into a virtual department store. Walmart (NYSE: WMT), which acquired VR start-up Spatialand last year, could also be developing a similar app.
Retailers that adopt these solutions could lock in younger shoppers, so investors shouldn't dismiss these new shopping trends as gimmicks or fads.
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