This piece highlights trends that will shape retail this year.
The COVID-19 crisis has vastly impacted businesses and consumers’ lifestyle, the results of some of these impacts would prevail. For instance, consumer spending will shift again as soon as people have full access to brick-and-mortar stores and can go out to restaurants and bars.
Retail stores and shopping malls will continue to evolve, while offerings like curbside pickup, BOPIS (buy online pick up in store) and designated parking spaces will continue to be around this year. The articles states that digital-first retail strategies will be the key to success in 2021.
With consumers being forced to stay at home due to the pandemic, online sales reached record high in 2020. Moving forward, businesses are expected to increased QR code usage. Coresight Research’s CEO, Deborah Weinswig says, “Consumers will continue to think differently, shop differently.”
[3 minute read]