Awayco
7/1/2022
20
3 min read

What is Retail 3.0?

Retail 3.0 is the future of e-commerce.

With consumers increasingly looking to experience retail beyond physical stores and online marketplaces, the intersection of retail with modern digital trends and lifestyles is becoming increasingly important. 

Consumer behaviour is shifting, with demands to experience, consume and integrate retail products into bold new virtual worlds. 

Retail 3.0 presents an extraordinary opportunity for large retailers to pivot their offerings and integrate into these new worlds. By offering consumers the ability to consume products in virtual worlds, or offering seamless switching from physical, online to virtual, retailers will be able to offer the choices that customers are now demanding. 

Retailers who don’t take advantage of the shift to digital and lag in implementing connected tech for their customers will find themselves at a disadvantage, and may lose brand loyalty among the modern consumer. 

That’s the brilliance of our Awayco tech. We offer retailers the ability to connect all these dots and integrate their offerings across devices, across platforms, to meet the customer where they want to do e-commerce. 

Whether customers are looking to rent, buy or experience, the future of retail will revolve around  retailers that can entice and offer customers easy solutions, enabling the customer to get their hands on products and services even quicker than ever before, even if the product is not a physical one. Just a few years ago, digital clothing for your avatar would have been futuristic, but now it’s here.   

Modern consumers are also increasingly concerned about environmental footprints. 

Consumers have the power to choose products and services that match their values. Many are turning away from the concept of ‘ownership’ and instead turning to options that allow them access without the environmental price tag, like renting or recycling, or are turning to retailers that provide sustainable materials, products and end-of-life options. 

Platforms that allow consumers to switch between these preferences in the circular economy are going to be instrumental. 

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