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.