80% of UK consumers believe retailers need to invest in new technology

According to new data from buy now, pay later (BNPL) giant Klarna, 80% of UK consumers believe retailers need to invest in new technology.

The research demonstrates that UK shoppers are looking to integrate new technologies in their shopping experience, both online and in-store, with flexible payments and comparison services on top of their wishlist.

Klarna’s Quarterly Shopping Pulse, which explores evolving shopping habits across 11 countries, shows that 8 in 10 (80%) UK shoppers believe that retailers need to continuously invest in new technologies to meet evolving consumer demands, which is more than in any other country.

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About 1 in 2 shoppers believe that frictionless payments, both in store (48%) and online (46%), should be a retailer’s top priority, as Brits are looking to save time from filling out lengthy checkout forms and standing in queues.

Next in line on the wishlist for innovations are technologies that provide better personalized services, such as digital recognition, and product recommendations.

The younger generations are also keen on virtual and augmented reality technology such as virtual stores and dressing rooms, with 40% of Millennials thinking online retailers need to invest in these technologies.

“UK shoppers are tech savvy and their online shopping preference currently ranks ahead of all the other countries in our report,” Klarna consumer trend expert Viveka Söderbäck said.

Brits crave digitalisation and expect retailers to invest in new technology that gives them a better shopping experience, especially when it comes to faster checkouts and frictionless payments.”

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