Connected Commerce Solutions Are Driving the Future of Retail
Are you taking the right steps to future proof your business with Connected Commerce solutions? Consumers’ needs for seamless, personalized, integrated experiences have never been more prevalent than they are now. But what does that mean for the future of retail? Your main channel of focus should be on the consumer. Retail Customer Experience estimates that 63% of consumers expect more personalized service when they shop, while 76% of consumers are likely to show their support to brands that know what they want peaking customer expectations at an all-time high, according to Salesforce. These numbers are estimated to grow as services become more integrated.
Connected Commerce solutions, such as curbside pickup and social shopping, are all becoming a mainstay in our retail future. Forbes estimates curbside pickup orders in the US have increased over 200% since the pandemic began. Compare that to the 7% spike that retail witnessed in curbside pickup in 2019. 44% of the Top 500 Retailers across North America have recognized the value of curbside pickup and have integrated it into their service channels, according to Digital Commerce360. Curbside pickup is predicted to see a steady incline in a post-pandemic free environment as most consumers have adapted to the service and plan to continue using it. Categories such as grocery, home, pet, beauty, and personal care have been a big hit for consumers using curbside pickup. In a special report by Medallia Zingle, 18% of consumers say they will seek out retailers who offer curbside pickup to avoid crowded stores because of COVID-19.
Social commerce has seen exceptional growth over the years and it’s easy to see why it has become such a viable channel for brands and retailers to further engagement with consumers and conduct sales. Social Commerce Market Report estimates that the social commerce market will grow by 34% in 2021 with forecasted sales of $735 billion in two years. EMarketer reports China will lead the way with sales projected at $315.5 billion this year compared to $31.4 billion in the United States. The popularity behind social shopping is growing as social media continues to be a great presence. 87% of online shoppers, according to Smart Insights, believe that social media helps them make purchasing decisions, especially in apparel, as this is the largest segment making up 22% of social commerce revenue.
Want to hear about Connected Commerce straight from the experts? Register for The HypeHour on March 17th to learn about what Connected Commerce means for businesses like yours today.
In the meantime, view our latest infographic for more insights.