Brightpearl highlights 2021 retail tech investment priorities

New research from Brightpearl reveals UK online ventures’ top ten planned tech investments for 2021.

The digital operations platform provider surveyed leaders at 500 UK retailers. It found that 68% are planning to increase their technology investment over the next 12 months.

In 2021, they will be prioritising the likes of web personalisation (64%), social media marketing (63%) and a broadening of payment options (62%).

“It’s admirable that so many brands are offering new services to benefit customers,” says Derek O’Carroll, CEO, Brightpearl.

“Though it’s noticeable that online brands are once again prioritising the pre-purchase journey over the post-buy button experience with regards to their investments. Long-term, this can have a major impact on customer experience”.

“Covid is like a ‘meteor’ hitting the retail sector”

40% of retailers, meanwhile, have been put off completely from making a technology investment because of the array of software options that are available to them. Half have made no preparations for the second wave of Covid-19.

“Retailers realise that they need to leverage technology on a global scale before they become irrelevant, but the array of choice can make it difficult to determine where to start,” O’Carroll observes.

“Unfortunately, time is not a luxury retailers have. Covid is like a ‘meteor’ hitting the retail sector and is going to result in the eradication of many businesses if they do not adapt fast.”

“Retailers should take the time to run through an honest audit of the complete customer experience, identifying improvements and bottlenecks at all ends of the buying experience, and then look to recruit the right partners that can help ensure the entire retail operation is fit for purpose.”