Though still in the early stages of rollout, 5G technology could bring about positive changes to the retail industry, as retailers seek to maintain their digital transformation efforts and bring consumers safely back into stores in 2021. Retailers will use their IT investments in 5G to enhance the customer experience, both in-store and online.
Best Buy Beta: The retailer is testing a new membership program that could help it build on its strong ecommerce growth during the pandemic.
A new way to shop: Snapchat is reportedly planning to integrate fashion recommendation app Screenshop into the platform to help spur users to make purchases through the social video app.
A majority of China’s online shoppers will buy via social: After last year’s ecommerce boom, the practice will see higher adoption than ever in 2021, driven by shoppable livestreams and WeChat Mini Programs.
Buy now, pay later (BNPL) services have emerged in recent years as more retailers, including Walmart and Macy’s, began offering consumers financing options when checking out.
Brick-and-mortar faces a permanent change coming out of the pandemic: Companies bullish on retail will need to incorporate something a bit more enticing than merchandise to draw consumers back into stores.
US click-and-collect sales more than doubled in 2020 and will sustain double-digit growth rates over the next four years, according to our latest forecast. We estimate that US shoppers spent $72.46 billion via click and collect last year, accounting for 9.1% of all ecommerce sales. This year, those figures will increase to $83.47 billion and 9.9%, respectively.