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Bitcoin the future of retail, with a fifth of UK businesses predicted to trade in digital currencies by 2020

A fifth of UK employees believe that their organisations will be accepting Bitcoin and similar digital currencies as payment by 2020. That’s according to the recently launched Beyond Digital report from Infomentum, which examines how new technologies are expected to change UK workplaces over the next five years.

According to the report, a third of UK employees also believe that their businesses should be equipped with a 3D printer by 2020, with many highlighting the opportunity to improve customer experiences by providing instant 3D printed “product downloads” in store.

In addition to 3D printed products, 14% would also like to see drone delivery services introduced, while 15% expect “try before you buy” augmented reality services to be incorporated within their existing buyer journeys.

Commenting on these findings, Vikram Setia, Partner and Chief Commercial Officer at Informentum said: “As this report highlights, the next five years will see dramatic changes in the current buyer journey. As new technology alters the marketing, sales and delivery process, retailers must be open to innovation and willing to completely rethink their approach.

“By 2020, products may be previewed in AR, paid for in Bitcoin, created to order through 3D printing, and delivered by drone to a customer’s door. All while being monitored and managed through the real-time feedback of social media.

“While this array of new technologies may seem daunting for many businesses, retailers must be prepared to think about how such tools are likely to impact their businesses at a long-term strategic level. Those that fail to develop the necessary technology roadmap, will have already fallen behind.”

To download the full Beyond Digital report click here