A recent report from Shopify discusses data-backed insights for brick-and-mortar retail. The past year has brought massive changes to the industry, unlocking a whole new future for retail.
Shopify’s data has revealed the following insights:
Physical retail will transform, giving local businesses new advantages
In the height of the pandemic, retailers were forced to adopt an omnichannel approach to their business models. Now, omnichannel has become necessary to survive in order to offer multiple touchpoints for consumers.
Companies had to pivot quickly and it forced them to integrate an entirely new strategy. The pandemic significantly sped up the advancement of omnichannel in 2020. As we transition into a new future, retailers will be more prepared to reinvent their current strategies and stand out to their consumer base.
Resilient retailers will look to technology and experiences to meet customers’ needs
Consumer shopping habits are always changing, but the pandemic created a whole new set of preferences. Shoppers now want the option to have contactless payments at brick-and-mortar locations.
According to Shopify data, 62% of buyers are more comfortable making in-store purchases with digital or contactless payments. Compared to the same period in 2019, the number of merchants offering contactless payments increased by 122% during the pandemic.
Alternative pickup and delivery options will continue to grow quickly
BOPIS is still a prevalent shopping preference for many consumers. Alternative pickup options have become a convenient and safe way to shop. And, nearly 59% of consumers are interested in contactless pickup options.
Physical retail has transformed in 2020 and there’s no signs of it stopping in 2021, as retailers continue to harness new ways of selling to match consumer expectations.