IGD flags retail technology trends to watch in 2021
2021 will see the introduction of digital technologies that have a low capital investment and are easy to update, according to IGD.
We should also expect partnerships with third-party technology providers to speed up new tech introduction.
And more use of machine learning and artificial intelligence at store level to drive revenue and increase customer satisfaction.
New leadership and a fresh cultural mindset
Toby Pickard, Head of Innovation and Futures at IGD, says: “The coronavirus pandemic has accelerated retailers’ and shoppers’ digital awareness and capabilities.”
“Numerous companies have been testing and learning from new digital initiatives, and in 2021 companies will need to move beyond this to improve and implement at scale.”
“Digital transformation will require new leadership and a fresh cultural mindset as companies create flexible and agile ways of working.”
Driving online profitability will be another key trend shaping global retail in 2021.
Pickard comments: “With many shoppers using the channel for their large weekly shop, we have seen retailers focus on enhancing the pickup, or Click and Collect, experience to help improve profitability.”
“This has included adding more collection slots, expanding order staging areas and parking bays and ensuring a contactless experience. While the initial surge is receding, online penetration is expected to remain at a higher level, compared to pre-crisis.”
