TRENDS FOR 2021 AND WHAT THEY MEAN FOR RETAIL AND POS
TREND 2: ONLINE SHOPPING
eMarketer forecast that UK consumers will have spent £141.33 billion online this year, up 34.7% from 2019 meaning ecommerce will account for more than 30% of total retail sales in the UK for the first time. In 2019, that share stood at just 21.8%
Whilst these numbers are expected to decline in 2021 as stores open, many new habits have been formed
Brands that have pivoted quickly to move services and experiences online are likely to continue. Barclaycard estimate ‘Insperiences’ (in-home experiences) such as virtual gym classes, virtual pub quizzes and DIY meal kits to be worth £168 million over the next 12 months
Despite 56% of retailers initially planning their insperience product lines to be temporary, 35% of shoppers intend to continue investing in insperiences even after lockdown ends
Brands and retailers will also look to harness the digital expertise that they have gained – both online and in the retail environment
Stores as mini distribution centres – increased online activity has led to an explosion in the need for logistics, especially as consumers become more demanding. According to PWC, 88% of customers are willing to pay for same day or faster delivery
TAKE OUT FOR POS:
Communicate in the store environment the additional services available online – whether that is experiences or additional delivery support. Understand whether data gathered online could be used to enhance the shopper journey in store.