Adobe Analytics predicts that 2020 will be a banner year for eCommerce, with $189 billion being spent online during the holiday shopping season. New studies suggest eCommerce sales will reach record heights by 2022 – with revenues expected to grow to $6.54 trillion, up from $3.53 trillion in 2019.
With an eCommerce boom on the horizon, retailers are naturally asking how they can move into 2021 with a digital strategy that will keep their businesses heads and shoulders above the rising tide of prolonged economic challenges.
Stephanie Millner, retail expert and Vice President of CX Management at Teleperformance believes businesses will need to prioritize customer-centric and high-tech high-touch approaches to stay relevant as competition for wallet-share heats up.
Stephanie comments: “Major brands that were previously reliant on bricks and mortar will need to take a different approach to ensure they keep up with the consumer shift from shop floor to virtual store. It is now a matter of survival, and retailers that fail to adapt to new preferences could cease to exist once the pandemic is over.”
Stephanie comments: “As we enter the New Year, retailers will need to reflect on their strategy and recalibrate to break the transactional mold they have traditionally relied on. Restrictions have meant that consumer attitudes to the way we shop, interact, and the values associated with businesses have changed as a result of the pandemic. Even now, previously underutilized touchpoints such as omnichannel experiences, curbside pick-up, self-service, and automation have accelerated over the last year, showing it is possible to adapt. By 2021, these options and agility will prove to be critical staples to the overall shopping experience, and now, more than ever, retailers will need to continue adding real value for shoppers. If they do not, they could be left behind.”
Teleperformance is the global leader in customer experience management, working with leading global retailers to elevate omnichannel experiences for customers and clients while mitigating the impacts of COVID-19.
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