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Leveraging Agile Technologies to Reshape the Future of Retail Business
The shift to ecommerce and doubling down on omnichannel experiences have gained significant traction as stores reopen to a profoundly transformed customer base.
Fremont, CA: The world, as we knew, is nearly non-existent and highly unlikely it will be restored to normal. People have accepted the novel coronavirus as part of their day to day life and are learning how to live in a world that may never be free of the virus. Retailers are gradually opening their storefronts and clearing a path for recovery from the pandemic. The virus has cast a shadow of doubt over the future of the retail industry. Brick and mortar stores are faced with a huge question as the world adopts social distancing practices and contactless experiences. However, the pandemic has also presented businesses with an opportunity to be creative and emerge with new and innovative ways to tackle the situation.
The new trends emerging out of necessity are mainly pre-pandemic trends that have accelerated due to the need of the hour. The shift to ecommerce and doubling down on omnichannel experiences have gained significant traction as stores reopen to a profoundly transformed customer base. These trends have become the key pillars of any modern successful retail enterprise. Retailers have realized the need to shift to online practices as customers have accelerated the shift to online purchases.
Physical stores were shut down for many months, but the websites were still running. This has given ecommerce an undue advantage over traditional retailers. Customers who were once wary of online shopping have had the luxury of time to understand how ecommerce works. This was due as customers were left with no choice but to opt for online purchases. Companies that have invested in developing their digital and online assets pre-pandemic have benefited hugely, being able to withstand the impact of the lockdown. Since the outbreak of the pandemic, customer expectations have changed rapidly, and for a good reason. Shopping online and having products delivered at your doorstep is much safer and convenient. The trend will continue to grow as more and more customers rely on various online channels to get the products they need. The scenario turns more in favor of ecommerce as people start returning to work and face increased time pressure. Ecommerce is no longer a luxury for retailers but essential to stay in business. Traditional brick and mortar retailers need to invest in the development of a digital storefront before it is too late.