During late 2019, the experts were predicting exponential growth in the retail sector in the upcoming year, 2021. Businesses had brainstormed retail tactics to propel their sales further and were leveraging cutting-edge technologies like Artificial Intelligence and Machine Learning to explore new heights of sales explosion.
Being a top eCommerce app development company in USA, we are well acquainted with the retail industry and advanced technology. Here, we are jotting down some possibilities of upcoming technologies to adopt to resume shopping after COVID-19.
However, no one had the slightest idea of the anticipated new year transforming into a dreaded once-in-a-century pandemic year that snatched away all the opportunities and chained down the growth for an indefinite period.
The novel coronavirus accompanied a host of grave challenges before the retail sector that are difficult to be addressed by the usual business strategies.
But, with the help of technology, dealing with the pandemic challenges and resuming shopping after COVID-19 in the retail sector is not as difficult as expected. Before diving into the specific business-saving technologies, let’s glance at the retail industry threats due to the pandemic.
Threats to the Retail Sector Due to COVID-19
The pandemic brought forth some unexpected threats to the retail industry. Let’s know each of them one by one.
One of the primary threats to retail businesses is the significantly reduced number of customers willing to shop during the pandemic. With the severe imposition of worldwide lockdowns, some of the consumers lost interest in shopping for additional items as before, while others are fearing to visit the stores physically and get infected. Due to a dilemma among the customers for whether or not the shops are following safety protocols, they further distanced themselves from retail shopping.
Due to the decreased number of customers, lower profit, and hindered business growth, some retail businesses are amidst grave challenges to pay the taxes, rents, and stock clearance. Such minimization in business processes is compelling the small-scale retailers to close up and discontinue forever.
Adding up to the misfortune of the retailers, in some countries the shops are ordered by the government for partial opening, allowing limited customer entry inside and restricting the opening hours. Though the step is necessary to contain the infection chain, let’s face it that the businesses are suffering as a consequence.
Which Technologies to Adopt to Resume Shopping After COVID-19?
When every measure started falling short of rescuing the retail businesses, the retailers began seeking the only beam of light – Technologies. In the forthcoming period, the retail industry is expected to incline more towards implementing surging technologies. Now, let’s unveil these savior technologies.
1. E-commerce is the Future:
The danger is yet not averted till the discovery of vaccines. So, we must prevent overcrowding and the formation of infection chains in the retail shops. A safe alternative to shopping physically is the eCommerce on-demand services. Not only the millennials and Gen Z but also the Gen X population is turning towards eCommerce shopping nowadays.
Being safe and encompassing more opportunities, it is high time for the retailers to seek eCommerce app development for their businesses and kickstart their sales after a pandemic halt.
2. Augmented Reality
The potentials of Augmented Reality are still not recognized by many. Assimilating AR into the online business might give the customers a lifelike trial experience without requiring to be present physically.
3. Digital Marketing
The digital world is changing the ways of promotion and value exchange with the customers. Initially, the retailers must identify their target customers, and begin curating digital marketing strategies to spread the word of their businesses online, and attract even more customers than physically.
4. Education Content
With the rise in practicing social distancing norms, the consumers no longer want to visit the stores physically. So, they are getting separated from the warmly greeting salespersons, and chances are that many of the consumer problems may remain unsolved.
But technology has a solution to almost everything. In place of a salesperson, your online store might comprise quality education content like brochures, manuals, how-to tutorials, and other enlightening items that solve the consumer problems efficiently.
5. Contactless Payment
Physical contact is an invitation to the infection. So, the customers, retailers, and the eCommerce shipment valets are on a trail to avoid cash transactions. In the years to come, digitalization will flourish, and contactless payment will be accepted largely.
Leaving the customers attended is an unhealthy business practice. However, with the reduced brick-and-mortar business and increased online shopping, virtual assistants and chatbots become a crucial tool to help businesses in communicating with all the customers.
7. Mobile Applications
Neglecting the fact that the majority of consumers use mobile devices for shopping might be an expensive mistake. For reaching out to all the consumers, you must consider mobile platforms more valuable than the larger ones. So, emphasizing developing retail mobile applications is a beneficial deal. Not only the development of eCommerce applications, but also try-on apps, tutorial blog apps, and much more can be developed to find an edge amidst such a competitive and tightly-bound market.
All in all, technologies are the ultimate savior for reviving the fallen retail empire after the pandemic. The retailers must collaborate with the top retail app development company, like Auxano Global Services, and immediately begin curating the best versions of mobile applications to survive and come out of the unfortunate scenario.
Furthermore, the retailers must seek such a mobile app development company that leverages the latest technologies to innovate and ideate fiery applications and consumer-retailer solutions.