The holiday season is on the way, although this year will indeed be different. COVID-19 has changed how consumers shop, leading to increased online sales as the tendency to shop in packed malls diminishes. Notwithstanding the uncertainty, consumers will continue to shop, make merry and share gifts.
The pandemic will continue to drive online holiday revenue, although not many anticipated such a level of online shopping before the crisis. More than twenty-five percent of sales, for the first time, will take place online. Americans are expected to spend 43.3% online this coming holiday season due to the rise in web penetration from 19.2% to 26.1% between 2019 and 2021.
Accompanying the e-commerce revolution is the decline of in-store sales by approximately four percent. As shoppers move online, retailers need to adopt advanced technologies to enhance the shopping experience. Here are some of the technological trends that will help retailers survive and thrive this holiday season.
POS Software
As retail website traffic spikes, point-of-sale systems become a crucial technological solution this holiday season. The software allows you to centralize business processes and makes sales management more effective and efficient. POS offers real-time reports and data on sales. Furthermore, it automates challenging tasks, reduces sales and inventory management mistakes, and synchronizes data.
Logistic Software
Logistic software is one of a kind online optimization platform that allows retailers to manage shipping costs. With direct access to advanced optimization tools, logistics consulting software will provide you with recommendations for every action. Further benefits of logistics software for online retailers include flexibility, long-term savings, and quick optimization.
Artificial Intelligence
Before the holiday peaks, it is critical to establish consumer expectations regarding inventory levels. Even though predicting demand can be difficult, artificial intelligence algorithms will be of great help. Multinationals have already leveraged AI in their sales cycle from customer service to storage logistics.
The technology allows retailers to implement personalized marketing strategies, segment customers, and enhance the retailer-customer relationship. Implementing strategies based on the projected needs will increase retention rate and customer loyalty.
Omnichannel Outreach
Omnichannel outreach presents an up-to-date approach to e-commerce, focusing on developing a coherent user experience at all touchpoints. Ninety percent of customers desire an omnichannel experience merged with seamless service across communication channels. Social media, automated calls, messaging, and electronic mails offer customers a more flexible and transparent communication around updates, delays, and orders in real-time.
