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

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

By Dan Berthiaume - 10/13/2020

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.