Forbes: Retail Trends in 2020 That Will Shape 2021

Dec 23, 2020

(Image Source: Forbes)

2020 caught many retailers by surprise with unpredictable shopping patterns and nationwide lockdowns. As we move into 2021, what are some of the learnings retailers can carry forward to the next year? 

1. Conscious consumerism takes center stage

The pandemic has motivated consumers to shop more responsibly, i.e. to “buy less but buy better”.

“The pandemic has encouraged consumers to be more conscious of their shopping choices and wanting to ‘do good’. These values are also something that consumers want the brands they’re buying from to reflect, with our research suggesting 83% of Brits want companies to do more to integrate environmental considerations into their products and operations” explains Chris Biggs, Global Head of Retail at Boston Consulting Group (BCG).

2. Shopping local remains key

In 2020, consumers frequented local stores more than larger shopping centers. It appears that the desire to shop locally will likely continue into 2021 as many people remain unwilling to travel to larger malls as they continue to work from home. Moreover, this trend was also driven by consumers’ passion for supporting local shops.

“Supporting independent and local is a call to action in itself and reflects positively on a consumer’s personal brand,” says Biggs. “With our research showing that 41% of consumers intend to buy more locally in the future, independent retailers should focus on using their local appeal to help them stand out. They must market their local produce and emphasize their positive role within the community to appeal to the more conscious consumer”.

3. Physical retail fights back


Online retail has experienced a huge boost due to the pandemic but physical stores are slowly gaining back their popularity. Consumers would want to visit retail stores for the physical shopping experience as a result of “lockdown fatigue”.“The New Year offers a fresh appreciation of shopping and brick-and-mortar retail, bringing with it an opportunity for the high street to evolve. In the West End, we are focussed on improving the experiential, mixing shopping experiences with world-class commercial, cultural, residential and hospitality, that offers a new meaning to the shopping experience; a repurposed global destination for the world to visit” says Jace Tyrrell, CEO at the New West End Company.

4. Technology continues to reshape retail

In 2021, technology will continue to empower consumers to do product research before making purchases in stores or online. The understanding that there only exists one customer journey, which may move between online and offline channels before a purchase is made, will soon become the norm.“

The pandemic has driven lots of brick-and-mortar retailers to rapidly experiment with services that make it significantly easier for their customers to shop with them online. I think the rapid experimentation we’ve seen in 2020 is going to really bed in and lead to some incredibly slick, compelling ways to shop locally in the online world. The ability to immediately check local in-store availability natively in Google or Facebook will become as commonplace as checking opening times is today,” says Nick Brackenbury, co-founder of software company NearSt.Brackenbury further explains,

“Technology certainly has a major role to play in making it easier for a shopper to shop with a brick and mortar store, but ultimately the store itself still has to deliver a compelling experience you can’t get online.”

Source: Four Trends That Will Shape Retail In 2021

For more exclusive reports, insights, and interviews on the latest updates in e-commerce and logistics, follow us on LinkedIn or join our community as a member.

Share this with your network

Also worth your time

Follow us on LinkedIn
Stay connected with us

Track your parcel here

More discoveries

Business Wire: Convoy Strategically Expands Alliance with MercuryGate

Jul 01, 2022

TechCrunch: Pinterest Elects Google Exec, Bill Ready, as New CEO

Jun 30, 2022

Tech in Asia: Zomato Signs Acquisition Deal with Blinkit for $578M

Jun 29, 2022

Supply Chain Quarterly: Walmart Inducts High-Tech Tablets in Freight Trucks

Jun 28, 2022

State of E-Commerce in Germany 2021

Jun 28, 2022

Guest Post: 5 Effective Ways Technology Enhances Customer Retention

Jun 27, 2022

Alcott Global Podcast: Supply Chain Tech is Here to Stay

Jun 27, 2022

Business Wire: Shipbob Appoints Kamal Sundar As New Supply Chain Leader

Jun 24, 2022

Guest Post: Ultimate E-Commerce Strategies for the Summer Season

Jun 24, 2022

Guest Post: 9 Important Practices for Proper Inventory Management for Startups

Jun 23, 2022

Logistics Management: Fedex and Fourkites Join Forces for New Supply Chain Capabilities

Jun 23, 2022

Retail Dive: Simon Pilots Innovative Search Tool for Shoppers

Jun 22, 2022

Top E-Commerce Trends to Watch this Summer

Jun 21, 2022

Your Story: Delhivery Introduces Same-Day Deliveries for D2C Companies

Jun 21, 2022

Guest Post: Artificial Intelligence in E-Commerce: What’s Next

Jun 21, 2022

Guest Post: How Digital Marketing & Advertising Can Help Grow Your eCommerce Business

Jun 20, 2022

Funding Roundup: New Funds Secured by Zoovu, Cartlow, Khazenly and Others

Jun 17, 2022

Guest Post: 11 Ways to Optimize Your Online Store for Better Conversions

Jun 17, 2022

Apex Insight: Doddle Rolls Out Automated Returns Kiosks

Jun 17, 2022

Unpacking Returns Management in E-Commerce

Jun 17, 2022

Interview with Wilfred Lam: Omnichannel Logistics at LUXASIA

Jun 16, 2022

Fashion Network: Pimberly Strengthens Board with New Member, Dr. Beatrice Lafon

Jun 16, 2022

Yahoo News: Amazon Sets to Launch Prime Air Drone Deliveries

Jun 15, 2022

Pandaily: Alibaba.com Introduces New Cross-Border Trade Platform

Jun 14, 2022

An Introduction to Returns Management in E-Commerce

Jun 14, 2022