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 thatÂ many Generation Z shoppers — defined as folks born between 1995 andÂ 2015 — were willing to use these newer shopping solutions on a monthly basis.
That’s good news for Amazon (NASDAQ:AMZN), which controlled 61% ofÂ 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 beÂ 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.