Future Stores Report: Leveraging Technology for Growth in 2021

Marie Merien
Written by Marie Merien
retail employee empowerment

WBR Insights surveyed 100 Retail Directors and industry leaders to find out about the challenges they are facing in 2021 due to the impact of COVID-19 and the innovative solutions they are putting in place.

Here are some of the key results that came through to strategically restructure retail post-Covid-19, from strategic priorities and technology investment goals to how retailers can blend digital and physical customer channels.

Also download the full report here.

Table of Contents:

  1. Retailers’ Strategic Priorities in 2021
  2. Blending Digital and Physical Customer Channels in Retail
  3. Retail Technology Investment Goals Post-COVID-19 

1. Retailers’ Strategic Priorities in 2021

  • The majority of respondents (39%) said mobile phones will have the most ROI post-COVID-19 when working with customers on the shop floor.
  • The majority of respondents have allocated 31-40% of their budget for customer experience innovation in the next 12 months.
  • The organizations of respondents are planning to invest the most in artificial intelligence (AI), customer relationship management (CRM) and mobile apps.

2. Blending Digital and Physical Customer Channels in Retail

  • The majority of respondents think their customers do not get a true omnichannel experience when they shop with them. Therefore, 56% are planning to invest in digital technology to make unified commerce a reality within the next year.
  • 57% said that investing in omnichannel is a top priority for their business.
  • 53% consider physical retail stores important or somewhat important to their business as retail bounces back from COVID-19.

3. Retail Technology Investment Goals Post-COVID-19 

  • 70% said they would invest in an integrated mobile platform.
  • 25% said their organizations are looking to invest in technology to solve their merchandising and trade operations challenges, 21% to support product training and implementation, 20% for store performance monitoring and 19% for store audits.
  • 48% said increasing in-store conversions is most important for their organizations.

See all the data and insights from retail industry leaders in the full report here.

And if like 70% of retail industry leaders, you also want to up your retail performance with a fully-integrated mobile platform, contact us for a demo today.

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