The world of retail has undergone a significant change in 2020. We can reasonably expect that the trend will continue in the coming year, which makes predicting what 2021 has in store for retailers much trickier than before.
Still, there are assumptions that will be safe to make based on the current state of affairs. Here are five trends that can reasonably be expected to continue in 2021.
Delivery Still on the Rise
In-store shopping and picking up packages has been largely replaced with home delivery.
As the world remains in some form of lockdown and is expected to stay that way, delivery rates are expected to continue to rise.
This trend has already forced many retailers to open online stores for the first time. Unfortunately, this also means that some brick-and-mortar stores will likely be closed in the year to come.
In-Store Experiences to Change
While online shopping might be becoming the new normal, in-store shopping will likely not be replaced altogether. However, the experience of shopping in the real world will change.
Crowded aisles and tight spaces will be replaced by a more open space concept, allowing for more room and enabling shoppers to stay at a safe distance from each other.
Contactless checkout is also becoming the norm. Last but not least, trying on items at the comfort of a shopper’s home is becoming more accessible and even encouraged, with extended return and exchange times.
Seller and Supplier Relationships to Change
Sellers have previously been used to paying for an entire supply of products upfront. In the coming years, this trend might see a change, as consignment might be becoming the new norm.
Given the fact that sales and prices are expected to fluctuate and sellers can no longer be certain whether they will sell all their stock, consignment might bridge the gap between the profits of suppliers and the expenses of sellers.
This will also mean retailers will need to handle consignment inventories and manage their deliveries and stock differently. Yet, this is a more welcome hurdle than the potential pitfall of an unsold inventory.
Personalization Remains Crucial
A trend we’ve already been seeing for several years is personalization in online shopping.
Shoppers appreciate offers and discounts tailored to them. In fact, they are ready to provide plenty of personal information in exchange for a more pleasant and personalized shopping experience.
Retail brands that are doing business online need to refine their segmentation criteria. A lot of them will be reaching for the aid of AI-powered solutions to help them get to know their customers better, determine patterns, and offer the best possible experience to their shoppers.
Social Shopping and the Value of a Following
Shopping on social media is not a novel concept, but in 2020, it has seen its peak. A trend that has emerged from lockdown, social shopping is another step towards providing consumers with multichannel shopping experiences.
Different platforms have introduced the option for brands to set up shop on their social media feeds, allowing their followers to make a purchase even faster and more seamlessly than ever before.
This trend, of course, goes hand in hand with the increased amount of time people are spending online (especially on social media). Moreover, it draws attention to the importance of growing a social following for retail brands.
This will also highlight the prominence of influencer marketing. We can certainly expect social shopping to reinforce the value of the relationships brands have been building with social media stars over the past years.
Micro-influencers are expected to be the next social media presence brands tap into, allowing more and more “regular people” to earn an income online.
Final Thoughts
As the pandemic hopefully draws to a close in 2021 and the world returns to what it once knew as “normal,” the world of retail will most likely undergo another significant change.
However, some of the digital trends we have outlined here are likely to remain with us for a longer period of time. Those are the trends that highlight convenience and ease of shopping and provide more comfortable access to a brand than shopping in-store. As digital technologies continue to evolve, the world of retail will certainly embrace them and find an application for them sooner rather than later.
