Software/Technology

The National Retail Federation (NRF) is anticipating that retail sales will grow between 10.5% and 13.5% to more than $4.44 trillion this year as the economy accelerates its pace of recovery.

While the retail industry is seeing a resurgence of in-person traffic in recent months, the pandemic has proven that consumer adoption of e-commerce isn’t going away. The pandemic has produced a larger technological shift, leading to a surge in e-commerce sales that are driven by online and mobile device shopping, ordering, and payment. After years of evaluating the demand for online shopping versus traditional brick-and-mortar, hybrid shopping that includes Buy-Online-Pickup-In-Store (BOPIS) and same-day delivery has had a significant impact on retail brands’ reliance on these strategies.

The global supply chain has taken a hit over the past year, which has slowed down distribution channels, heightened labor shortages, and increased product delays. However, advanced technologies such as artificial intelligence (AI) and blockchain have created opportunities for companies to enhance supply chain operations moving forward.

Online and mobile shopping are likely the primary purchase channels for many brands today. In a recent article in Industry Week, I shared thoughts on why (despite supply chain shortage challenges for certain products over the past year) the focus on e-commerce strategies was strong throughout 2020, is expected to increase through the remainder of 2021, and continue to shift the purchasing landscape moving forward. Economic uncertainties resulting from the COVID-19 pandemic, especially throughout the supply chain, has made supply and demand tracking a difficult task, and in some cases has impacted shipping and delivery times.

Technology functions best when it is working to foster strong customer relationships and make it easier for employees to perform their tasks. Using technology to skillfully build and maintain customer communication and support their needs translates to a healthier business model. When you enrich your client’s experience with your brand, everybody wins – especially your brand.

Is your company taking advantage of digital marketing opportunities available through content-driven resources? If not, now is the time for your marketing team to explore and create a digital strategy that can deliver new leads to your sales team, who can then turn those leads into potential clients. Perhaps you have heard such buzz words as brand awareness, lead generation, social engagement, and retargeting, and may be wondering how they tie together with online marketing and content creation, and more specifically, translate to improved client relations and increased sales.

Moving through 2021 amid COVID-19 vaccine rollouts and a continuation of remote work and schooling structures, the ever-evolving role of technology shapes how our society functions, from entertainment and shopping to education, healthcare, and employment. The rapid pace of technological advancement can be viewed perhaps as a driving force that we seek to adapt to rather than it adapting to us.