A remarkable retail technology year in review
Phew, what a year it has been for retail!
The sector has undergone massive changes over the last 12 months, with technology being more important than ever, as is demonstrated by the rather excellent winners at our 2020 Innovation Awards.
Online now accounts for 60-70% of John Lewis sales, whereas before the coronavirus pandemic it was 40%.
But even with the acceleration of e-commerce across all demographics, physical retail is far from dead.
The John Lewis figures are obviously to do with temporary store closures, and it will be interesting to see how much reverts back post outbreak.
Either way, it ultimately isn’t about online vs physical, but rather blurred lines. The customer is the channel. Too often this year, the conversation has been focused on e-tailers thriving whilst their high street rivals dwindle and die.
When in fact during 2020, online became offline and offline became online. And there will be a further blurring of channels next year, with retailers ramping up their omnichannel offerings, mindful of the fact that the one constant will be change.
2021, here we come
I want to say a huge thank you to all of you that have read, worked with and supported RTIH during the course of a remarkable 2020.
Just like many of the businesses we write and comment about on a regular basis, our best laid plans went out the window when the coronavirus hit. But we adapted to challenging times and head into 2021 in great shape.
RTIH is now shutting down for the Christmas holidays. Normal service will be resumed on Monday, 4th January.
I hope you all get to spend some well deserved time off with your nearest and dearest, reflect on a game changing year and recharge your batteries in the process. And then we go again in 2021!
Merry Christmas and a Happy New Year. And stay safe, good people!
Best Regards
Editor and Founder, RTIH
