Photo: RetailWire
Maisie Woolverton
Through a special arrangement, presented here for discussion is an excerpt of a current article from the blog of Aptos.
At RetailROI SuperFriday just before the NRF Big Show, a retailer roundtable hosted by Aptos discussed some of the trends that emerged in retail in 2020 and which ones appear to have staying power.
Topics discussed included:
Curbside pickup: Retailers had mixed opinions on curbside beyond the pandemic. For some, curbside and BOPIS helped increase average order value and prevent issues with delivery. For others, it was not a huge draw for customers or was too complicated to coordinate with closed stores.
Buy now, pay later: With a low cost to implement and a younger target audience, one retailer mentioned that they believed “buy now, pay later” to be a strong trend moving forward. Several retailers, however, felt payment plan solutions were not currently relevant for their market or region. One preferred the “buy now, pay now” model.
Delivery alternatives: At least a couple of the participating retailers have expanded their delivery network in order to combat delays, often finding more reliable service with smaller carriers or alternative options like Instacart. With fewer products moving between stores, one retailer has even repurposed their own delivery trucks to bring shipments directly to the carrier’s hubs in order to reduce time and costs.
Livestreaming: Roundtable retailers were not sold on livestreaming. While one mentioned getting good results from previous livestreaming efforts with their collection designers, the main purpose of the technology was to drive traffic into stores. The conversation turned instead to other sales channels and marketing efforts, including more emotion-focused messaging that has been fruitful for these retailers over the past several months.
Health and wellness: One health and wellness retailer had a positive outlook for their industry, despite ongoing supply chain challenges. “There was already a trend toward [the category], and COVID accelerated it,” the retailer said. “We think it will keep growing and it’s here to stay.”