The earliest projections have the whole world moving towards a post-COVID state in summer. This means that the first half of 2021 will be pretty much the same for retail.
By the end of 2021 when most of us are vaccinated, we will have been living in a COVID world for almost two years Unfortunately, and sadly, we are accustomed to this living and a return to “normal” may never happen. We must adapt to this change and keep anticipating the best.
The pandemic year of 2020 which came along with lockdown, also brought a fair share of upheavals and opportunities with it. While we give a farewell to the chaotic 2020 and settle in with the new normal,
We just can’t help but hope for the best in 2021. Let’s hope that 2021 is a much anticipated year with better and filled opportunities.
COVID-19 indeed turned our lives to a great extent, be it personal or professional. At the same time, it paved a way for existing businesses, along with new start-ups, to make a mark in the professional world. This has been the case, especially with the retail industry.
The E-commerce industry has witnessed a huge transition in its working structure. Every year, brands and companies come up with online shopping predictions so that they can be ready for everything. New consumer behaviors are reshaping the future of online shopping!
Even though various companies and brands all around the world slowed down and some even got completely closed, yet many of them found a way out. They touched the waters and navigated through it all via the online medium.
The e-commerce and retail industry has been launched into tier 2 and 3 cities. It even tried to reach even remote locations.
The primary reason for this being many people had to shift and move away to their home towns as COVID-19 led to a loss of jobs. Retailers, companies and businesses need to prepare to hunker down some more. Simultaneously they should keep looking ahead to what the new normal life of post-COVID world might look like.
Keeping the recent circumstances in mind, we can expect some trends that are likely to arise in the retail & e-commerce field in 2021. These are some of the online retail shopping predictions that may happen in 2021.
We’re going to break down some of the top 10 predictions for online shopping in 2021. Here are some key online retail predictions for what the retail industry should expect in 2021:
1. Change in Loyalty Marketing
For any business in the retail industry, the main aim is to retain existing customers along with attracting new ones to their platform. However, now there has been a shift in the working structure of the industry.
It has changed to more of a consumer-based business. This change happened because the decisions are made keeping in view of providing benefits to their customers.
In simple terms, it is not a business anymore, rather it’s a relationship between the customer and the seller. Customers aren’t afraid to try new products and items.
One of the predictive analytics online shopping puts forward that this trend will only become more pronounced in 2021 as new retailers enter the market.
Therefore, new brands and startups will have to work even harder to retain current customers and engage new ones.
2. Bankruptcies Across all the Fields
This is one of the most important predictions in online retail predictions. There will be more bankruptcies across all fields of the industry.
Many brands and retailers will see difficulties faced during COVID as an opportunity to rebalance and restructure their business.
They will have more freedom and flexibility with the way courts work with bankruptcies. Now, companies can afford to reanalyse their company and get out of the situations that they wouldn’t be able to otherwise.
One such example is leased. With consumers becoming more comfortable shopping online, difficulties will be continued all throughout the year.
2. Local Brands May Hit the Sky
We can hope and expect the year of 2021 to be the year of newness and freshness as we continue with the new ‘normal’.
Though the existing multi-million brands will continue to be successful and give their best, customers are also highly likely to shop from local retailers. Customers can now make well-informed decisions and prefer local products over foreign ones.
Taglines like ‘Make in India’ and ‘Local for Vocal’ are not just taglines anymore. They rather became an integral part of the consumer’s decision process.
They don’t mind spending extra money on their choice of local products. According to one online retail sales prediction, local startups and brands may hit the sky with their sales.
3. Recycling will Become a Big business
According to predictive analytics in online retail, more than 95% of the packages delivered to millions of people in the country are sent in containerboard.
Furthermore, this is expected to increase by a great number in the coming years. Since there is a massive growth of online shopping, recycling will become a big business.
This trend is predicted as online retail continues to grow. With online shopping comes shipping and delivery. So, billions of boxes and packages have to be delivered.
4. Delivery Related Fields will Rise
Jobs like pickers, packers, and drivers will rise. Online shopping growth statistics say that around 90% of customers will continue to shop online.
Because of this, delivery companies will soon have a shortage of deliverers. As online shopping continues to rise, there will be shortages in drivers, warehouse pickers, and packers.
The jobs in these fields will increase throughout the year. According to one online retail sales predictions, sales will increase a lot through online shopping and delivery jobs will create a lot of job opportunities for everyone.
That’s it! This is the end of our prediction list. Even though 2020 has been the year of utter chaos, keep in mind that every closed door opens another door of opportunity.
Hopefully, 2021 will present great opportunities for everyone. Especially for those who embrace the change and still walk along the road to anticipate it. To know more information on the predictions of the online retail industry in 2021, subscribe to Desertcart Blogs.