Study: The top 10 2021 tech investment priorities for retailers are…

Solutions that help personalize digital interactions are at the top of retailers’ technology spending priorities for the coming year.

According to a new study of retailers and consumers from digital operations platform Brightpearl, 68% of retail respondents are planning to increase their technology investment over the next 12 months. However, 40% of retail respondents have been put off completely from making a technology investment because of too much choice, and nearly half have made no technology preparations whatsoever to manage new spikes of COVID-19.

The top 10 technology investment priorities for retail respondents in 2021 are:

•    Web personalization (64%);
•    Social media marketing (63%);
•    Increased online payment options (62%);
•    Inventory management software (62%);
•    Barcode scanning technology (61%);
•    Delivery tracking (59%);
•    BOPIS (58%);
•    Order management software (57%);
•    Returns management software (56%);
•    Business intelligence and performance reporting (55%)

Brightpearl’s survey also examined the impact of COVID-19 on consumer online spending. Results include:

•    61% of consumer respondents have experienced issues buying from brands online within the past 12 months;
•    52% of consumer respondents say they are spending more online since the start of the Covid-19 pandemic;
•    77% of all consumer respondents’ poor online shopping experiences are directly related to problems after the buy button, like issues with delivery and returns.