Being one of the most awaited years of the century, 2021, lies ahead big things. From the new United States president to the Olympic Games in Tokyo, and conversations about vaccines, there are a number of things that will continue to get the hype in 2021.
Apart from these, 2021 will see massive transformations in many fields. Out of many, the retail industry has gone through a major upheaval in the previous year. But the retailers have been very determined and resilient to fight back the global impacts of the pandemic. The temporary lockdown and closed shop doors have increased the need to upgrade to the latest technology. The huge transformation in the retail landscape can be supported and reduce the hustle. If you want to adapt to the ‘new normal’ you need to keep an eye on the trends. Let us take a look at the most vibrant trends in the retail industry in 2021.
Table of Contents
1. Omnichannel retail
It is a unified brand experience occurring across multiple channels that let users connect seamlessly on different platforms. With the help of omnichannel technologies, small retail stores can offer convenient avenues to their consumers. In omnichannel retail, the consumers can engage, discover and research the expected channels.
2. Restructured Brick-and-mortar stores
When the world is increasingly opting for online shopping, businesses of all sizes have to reconsider the set-up of their brick-and-mortar stores. Now, they have to take a more holistic look and shape their physical stores according to the trends. For example, retail businesses will start using retail robots. These tech-driven gadgets and several other automated systems are helping companies step up their in-store marketing and inventory management.
3. Use of Automation In Setting The Price
Yes, now automated technology will be used to determine if the product prices are properly set. Automation in the pricing industry will be a new wave for companies, especially small retail stores. They will become an affordable solution once they will be offered in the cloud. Such automation solutions will be highly used because they decrease the implementation costs and operations costs.
4. Enhanced Role of Influencers
For every retail brand, influencers will remain relevant this year. The sense of trust makes it easy for brands to persuade customers to buy. In the coming years, choosing the most authentically aligned influencer and developing a mindful micro-influencer campaign, will be the most important parameters. Brands can get exponentially better engagement and ROI with the help of influencer marketing.
The next big thing is Video marketing. It is one of the most opted retailtainment examples (retail + entertainment). Brands are partnering with influencers to create content for their brand and share it on different social media platforms like Instagram Live, IGTV, Instagram Reels.
5. AR-Powered Shopping Experiences
Machine Learning, Artificial intelligence, and Augmented Reality are here to stay. According to Nielsen Global Survey, 51% of consumers listed VR and AR as top technologies and showed their willingness to use them. In 2021, Augmented Reality will become a necessary part of the retailer’s e-commerce offerings. The slope of the number of retailers using AR to bridge the gap between the physical and the digital would rise shortly.
6. Brands With Values and Ethics
71% of consumers said that they prefer to buy from value-aligned brands. In 2021, buyers are more likely to evaluate the brands according to environmental, political, and social parameters. If you want to flourish as a brand in this competitive era, refrain from taking ethical issues for granted and offering genuine transparency.
7. Same Day Delivery
The customer expectations in the context of shipping are getting higher and higher. With Amazon doing beyond imagination, the current year would be for those who can gallop through the delivery process. All the above, Walmart is in the talks of introducing two-hour express delivery options.
8. Increase In Smart Speaker Shopping
Voice search technology will be another trend in the retail marketing industry. Tens of millions of adults have started using smart speakers like Google Home and Amazon Alexa. And out of them, around 20% of them are using them for shopping purposes like conducting product research, ordering products, and tracking deliveries. In the next four years, the figure is about to jump to 52%.
These are some of the most important trends to follow up on in 2021. The retail sector has been affected by COVID-19, but with the help of technology, retailers and brands can step up their game and offer amazing experiences to customers.
