Nearly everyone’s lives have been changed by the pandemic, and for almost half of the global population, the change was profound. The pandemic also led to widespread digital adoption as people were empowered to work, shop, and connect with others from the comfort of their own homes.
New mindsets and behaviors have emerged as people redefined their values and reconfigured their lives to put renewed priorities first. Ongoing isolation, stress, and health concerns led people to prioritize quality time with loved ones and to focus more on their physical or mental health. Being able to work from home or have a flexible schedule has helped people find balance, and now it’s the most desired job quality.
The pandemic also moved more people to shop online, and while most appreciate the convenience, not being able to touch a product or ensure its quality are seen as the major drawbacks. Could augmented reality shopping fill the gaps? Among shoppers who expressed some interest in an AR-shopping experience, 3 out of 4 say it could lead to a purchase.
Demand for virtual culture and entertainment during the pandemic also grew as people moved online to work out, take classes, see concerts, travel, or experience culture. About 1 in 4 consumers globally are interested in these types of virtual experiences but say it’s just not the same as being there in person. Will immersive technology be able to replicate the feeling of being there in person in the metaverse?
How we pay and get paid may also evolve as more people are becoming invested in alternative currencies. Globally, 1 in 5 people have bought or invested in a cryptocurrency, and 1 in 4 are open to getting paid in crypto.
KEY FINDINGS
“Digital technology became a necessity for consumers during the pandemic – and these new-found habits are here to stay. In response, service providers are delivering personalised and seamless digital experiences across all channels whether in-store or online
Digital technology is also rapidly changing the nature of physical commerce, with advances such as Just Walk Out payments, carbon impact programs and crypto wallets gaining acceptance. We expect these types of experiences to accelerate as people become comfortable with new ways to pay.”
MEHRET HABTEAB
VP DIGITAL PRODUCTS, VISA EUROPE
GLOBALLY, PEOPLE SAY THEIR LIVES HAVE CHANGED PROFOUNDLY COMPARED TO PRE-PANDEMIC
Spending quality time with loved ones and taking care of physical and mental well-being are now the top two priorities in life
THE PANDEMIC OPENED UP REMOTE WORKING POSSIBILITIES FOR GLOBAL WORKERS
A flexible schedule or remote option is the #1 ideal quality in a job right now, followed by good pay and benefits
THE PANDEMIC PUSHED MORE PEOPLE TO SHOP ONLINE, WHICH CONSUMERS APPRECIATE FOR ITS CONVENIENCE
Its main drawback is not being able to touch and feel products – but augmented reality could bridge that gap
CONSUMERS SEE POTENTIAL FOR METAVERSE CULTURAL EXPERIENCES
ALTERNATIVE CURRENCIES ARE TAKING OFF
1 in 5 consumers globally have bought or invested in cryptocurrency, highest among Millennial and Gen Z males
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