Global economic activity may have declined this year but e-commerce boomed thanks to coronavirus restrictions. This shift in retail economic activity is evident in figures published as part of Salesforce’s Global Shopping Index back in August. According to the report, there was a 71% upswing in global digital commerce in the first half of this year. This correlates with local data collected as part of the Consumer Pulse survey, which found that lockdown measures caused a decrease in visits to brick and mortar stores as consumers opted to self-isolate and limit their social interactions. Unsurprisingly, calls to reduce physical interaction saw e-commerce volumes spike.
Take a look at some of the retail stories we covered in 2020.
#1 Why an omnichannel strategy is essential for retail business
Every industry has had its share of pandemic driven impact and the retail industry is no exception. With our personal and professional lives changing as a result of nationwide lockdowns and distributed teams, there has been an equally impactful shift in customer relationships. This, coupled with greater accessibility to virtual experiences and a need to social distance, means that many are favouring online engagements over visiting someone at their office or heading into a physical store.
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#2 Pick n Pay Achieves Technology Optimisation Success with Nebula
Pick ‘n Pay needed an automated, integrated solution that could be used for mass ordering of IT infrastructure for new store openings. In addition to this, they also needed a solution that allowed for telecommunication spend chargeback integration with SAP so that they could eliminate time-consuming manual processes. In this case study, we unpack how OneView enables IT optimisation for this supermarket chain.
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#3 Is data analytics driving retail transformation?
Starbucks is one of the world’s most popular coffee brands. Holding the top spot in its sector for many years in a row, the beloved coffee brand has secured customer loyalty through constant adaptation and innovation. What is driving innovation at the American multinational today? Big data and data analytics. So much so, that some have even suggested that Starbucks has transformed from a coffee business into a data technology company.
Read more, here.
#4 Why e-commerce is the future of retail
A few years ago, Statista predicted that global e-commerce sales would rise from 1.3 trillion sales in 2014 to an impressive 4.5 trillion in 2021. This was before the world was hit by the coronavirus pandemic and global lockdowns and social distancing measures changed how we work, interact and shop. Today, many of the self-isolation and social distancing restrictions that have kept us indoors for several weeks are being lifted, but this doesn’t mean that the world will simply go back to normal.
Read more, here.
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