philip lelyveld The world of entertainment technology

Blockchain, Virtual Reality Are Among Adobe’s Top 10 Retail Predictions

Here's Adobe Digital Insights' complete list of predictions for 2018, paraphrased:

1. Extra cash flow from changes to the tax law will be a "windfall" for marketing budgets.
2. Cryptocurrency awareness, particularly of bitcoin, will lead to eventual adoption of blockchain-based commerce.
3. Disconnecting from social media "will create social echo chambers that intensify debates" and make it tougher for people to avoid negative news.
4. Automation will "re-level" the workforce as people want more personalized service.
5. Dystopian imagery aside, positive sentiment will ramp up the adoption of automation.
6. Virtual reality entertainment is heating up, and "consumer demand will be higher and faster than you expect."
7. Traditional media will stabilize for a while.
8. Podcasts are having a moment.
9. There's a shift toward paid social media ads and away from paid search.
10. Marketers should treat social media influencers as partners, "not as hired guns."

...And there's interest in using blockchain as a ledger system beyond cryptocurrencies. In a survey of IT and marketing leaders, "less than 9% have actually started to implement blockchain, 10% are doing a proof of concept and 33% are in the process of thinking about how to get there, which is a really high amount" for such a technology, said Wang.

"Imagine you're in high-end luxury goods, and you want to trade your latest Gucci bag or trade the latest Rolex in the used market," said Wang. "How do I know it's real? When we think about provenance and authenticity, that's where it's going to play a role."

He said he can see blockchain being used not just in retail and commerce but how people trade personal data with marketers, allowing customers to opt in and out of being contacted about their interested in alcohol or cars, for example.

See the full story here: https://www.investors.com/news/blockchain-virtual-reality-adobe-top10-retail-predictions-2018/