Don Duncan is the director at NuData Security, a Mastercard company based in Vancouver. NuData Security has four cornerstones that form their intelligence model used to protect customers and businesses: Device Intelligence, Behavioral Analytics, Passive Biometric Verification, and Behavioral Trust Consortium. From over two decades of experience, he shares his trend predictions for 2019 with us.
In 2019, retailers will continue to look at how to move more brick-and-mortar services online. In addition, consumers will increasingly look for the ability to walk into a store, get a branded card and start shopping without friction. Retailers can ensure this happens by streamlining the user’s onboarding digital experience with tools that evaluate their inherent behavioral patterns, without compromising security or privacy. Self-checkout is becoming more prominent across multiple outlets.
The number of consumers signing up for online services such as Amazon Prime will increase, and so will the incentives to join these services to boost online purchases; i.e., Loblaws
This is compounded by the fact that many outlets now provide delivery-on-demand options, which means consumers can shop without going into a store. Being able to collect items from your local train station or the store parking lot is becoming a popular option as everyone’s lives get busier.
Subscription-based services for repeat monthly services are gaining popularity, and consumer’s buying habits increase by retailers offering targeted coupons based on their buying patterns.
The use of data analytics to understand buying patterns, not only of the user but also regional differences based on store, are more prevalent.
With these new ways to purchase goods come opportunities for fraud. In 2019 retailers need to work hard to make their services convenient to users but have to invest just as much to stop those fraudulent schemes that will try to take advantage of the new services.
Consumer habits are changing at a fast pace and companies will have to not only keep up with these trends but do it in a way that it’s safe and secure for them and their company.