In recent years, global retail has experienced a transformation driven by new consumer demands. According to a PwC survey, 56% of CEOs point out that the change in customer preferences is the biggest challenge for business profitability. This phenomenon, accentuated by the pandemic, raised expectations for a personalized shopping experience, intuitive and effective. In response to this reality, the concept of Expectation Economy has been gaining strength, proposing a consumption model in which brands not only meet, but anticipate the needs of their customers at all touchpoints
It is in the context of the Expectation Economy that we see the emergence of the macro trend identified by the consultancy The Future Laboratory. EQ Commerce (or Emotional Quotient Commerce) is an approach that goes beyond traditional selling and seeks to transform each interaction into a predictive and proactive experience. In this macro trend, we observe the union of the power of advanced technologies, how artificial intelligence and augmented reality, a qualified understanding of the expectations and behavior of the audience. This new form of commerce addresses one of the biggest pain points of digital retail: "algorithmic fatigue", when consumers become frustrated with generic recommendations and offers that do not reflect their true tastes and preferences. With this new approach, brands can interpret data immediately and personalize the shopping journey, generating a dynamic environment focused on individual satisfaction
Among the main trends of EQ Commerce is Discovery Commerce, that transforms the traditional search for products into an intuitive and customized discovery. Instead of waiting for the consumer to find what they want, this strategy presents items and offers that, proactively, align with your profile and interests. According to Coresight Research, the hyper-personalization of shopping feeds – that takes the right product to the right customer – can increase engagement and strengthen loyalty, transforming the experience into a true competitive advantage for brands
Another central aspect in EQ Commerce is the integration of artificial intelligence (AI), that allows for large-scale customization. With 71% of retailers increasing their investments in AI, according to Total Retail 2023, 73% have directed these resources specifically to offer highly personalized content, according to Coresight Research. AI enables brands to adapt not only what is suggested, but also how and when this is presented, generating satisfactory interactions at relevant moments. In an environment where a click can mean migrating to a competitor's site, this type of agile and data-driven response becomes essential
Augmented reality (AR) is an important pillar of EQ Commerce, elevating the purchase moment to a new level of interactivity and immersion. About 63% of consumers say that AR significantly enhances the experience, according to research by Statista, allowing them to view products in a dynamic and in-depth manner. Large brands like Walmart and Lacoste are already using AR according to the Virtual Flagship trend, creating immersive online environments that replicate aspects of the physical experience and strengthen customers' sense of exclusivity and belonging
In this way, EQ Commerce has the ability to promote closer and emotionally connected interactions with consumers. With him, it is possible to have environments in which influencers and curators participate in the digital journey, bringing brands and consumers together in an authentic way, stimulating the identification and feeling that your preferences are valued. This creates a bond that goes beyond the commercial transaction and reinforces long-term loyalty
In Latin America, where 50% of companies still do not feel confident in their customer experience strategies, according to research by the CMO Council, of 2023, EQ Commerce stands out as a transformative model. The companies that adopt this approach, using AI and real-time behavioral data, have a greater chance of standing out and winning customers in an increasingly digital and competitive market. The promise of EQ Commerce goes beyond meeting the demands of the present, it establishes a new paradigm of relationship between brands and consumers, in which innovation and experience go hand in hand, shaping the future of retail
