The retail industry has been filled with turmoil back in 2020 due to the global pandemic.
This is after it affected the behavior of consumers and led to the temporary shutting down of stores.
It opened doors for the so-called ‘new normal’ whereas new ways of selling and the quick integration of digital tools were introduced in 2021.
Now we are looking at the retail trends, which are expected to mold the new world of retail with the help of right technology.
Curbside Pickup
Back in April, reports showed that there has been more than 200% increase in the number of orders placed online and picked up at stores compared to the previous year.
This is a solid evidence that when COVID-19 pandemic caused a temporary but indefinite closure of retail stores, curbside pickup became the solution to continue the transactions between businesses and customers.
Experts says that this will continue for the next five years, that’s why it is crucial for retailers to adapt approaches such as curbside pickup for incoming orders.
Virtual Shops
Since personal interactions were limited and lockdowns were implemented during the pandemic, in-store buyers and owners were left with no choice but to rely on e-commerce and do the transactions in front of their gadgets.
Modern technology enabled retailers to utilize major social media platforms such as Facebook, Instagram and Pinterest to promote their ecommerce shops and sell products directly to consumers.
Social media influencers has also taken their part in helping customers decide by marketing brands.
The result of this is the rise to 63% of social media users between the ages of 18 and 34 trusting recommendations from influencers more than from the brands themselves.
Due to social media platforms developing new ways to implement social commerce, experts expect this trend to grow and market bigger until it reach almost $605 billion in the next few years.
Shopstreams
Simply put, shopstreaming, is just “shop” and “live streaming” combined.
It was seen as the next huge trend in consumer retail and brand development amind the COVID-19 pandemic.
Many retailers have engaged with customers using this approach where they can show customers what they have in-store, before making recommendations.
Experts see this strategy as effective because some brands reported an increase in sales by three times from August to September.
This year has revealed the true strength of independent businesses. Retailers were forced to take big risks, but in the end they were able to turn things around quickly and reinvent the industry they are in.
Several 2020 trends are still around to influence the way business and consumers shop are run. Digital tools and advanced technology will play a big role in selling this 2021.
Taking the course of a full omni channel strategy, virtual selling, and flexible payments options along with alternative business models will help retailers to avoid failing and go to straight success in this new retail world.