Tech development in online casinos could shed light on future retail trends
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It’s no secret that the casino sector has experienced monumental growth over recent years.
The growth has introduced several positive trends, including clean user interfaces, additional payment options, and better online security.
It’s becoming evident that online casinos are leading the charge when it comes to user experience (UX), and it could also provide some insight regarding shifting spending habits.
Wearable technology and VR
Research within the US market has shown a steady increase in the adoption of smartwatches. Research has also indicated that online casino gambling through smartwatches is becoming more common.
Casino apps can be downloaded onto the watch itself, with new technology being released all the time to try and improve UX. Retailers could see a boom in hyper-convenient shopping applications in 2024, ushering in a new era where convenience is valued more than anything.
If an online casino can make use of such a small space, it’s not difficult to see a future where shoppers might browse a catalog of products on their watch, while commuting.
AI has also been responsible for a lot of the tech advancements within the industry. Tech development in online casinosincludes the introduction of live dealer games, with VR and AR used to support the authenticity of the experience.
This trend is starting to take hold in the world of retail, with VR fitting rooms and AR used to try and give shoppers a glimpse of what their outfits may look like when they try it on.
With the global VR market for retail expected to reach $5.455 billion by 2028, it’s currently growing at a steady CAGR of 13.82%. VR can also offer many benefits to retailers, in the fact that product demos can be carried out, and customers can gain additional information on an item of their choosing.
New online payment methods
Online retailers need to accept . The acceptance of mobile wallets and even cryptocurrency is becoming widespread across casinos, and it’s impacting the way that people view online spending.
Some believe that alternative payment methods offer additional security, and more freedom overall. Even quick pay methods, such as Apple Pay are on the rise, yet many retail sites still require you to enter your bank card details to complete a purchase.
If online retailers want to embrace the latest trends, venturing into new payment technology could be the way to go. Just 23% of smaller retailers currently accept cryptocurrency for purchases, but crypto payments account for 25% of all online payments within the gambling sector.
48.6% of cryptocurrency holders use their funds exclusively for gambling.
As you can see, the world of retail is following in the footsteps of online casinos, especially when it comes to tech development and technological advancements.
With the adoption of more innovative payment methods and wearable tech, it’s not surprising to see that this is having a major influence on the market. Retailers who adopt tech like this now, are likely to stay ahead of the curve.
