03/10/2021
2020 was expected to be one of the best years yet. The economy was booming with happy consumers, low inflation rates, the stock market was up, and what seems to be a promising year for retailers quickly turned into one of the hardest years this generation has seen. The pandemic caused most retailers and restaurants to shutter as they navigated unplanned inventory, bankruptcy, renegotiating with landlords, and layoffs. An article released by RIS News, “7 Retail Technology Trends to Watch in 2021”, offers a great perspective on how 2020 may have had a detrimental effect on society, yet has been marked as a monumentally transformative year for technology. They propose that those who survive and thrive this next year, technology will be at the heart of all parts of their business. Not that technology wasn’t a priority in the past, but with the tensions fueled in 2020, technology investments will be a must for every retailer that didn’t already accelerate investments during the pandemic – from supply chain, e-commerce and store operations, to merchandising, marketing and shopper engagement. The seven technology trends presented in this article are a great place for retailers to start when looking for direction on how to recover after last year’s fiasco and want to join other businesses as they undertake technology’s new role in the retail space.
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For those that survive and thrive post 2020, technology will be at the heart of all parts of the business. To stay ahead, retailers need to know the hot trends for 2021. You don’t want to miss industry insider Justin Honaman’s 8th annual look at the top retail tech trends to watch in the New Yea...