Retail Business Influencers and CEOs Share Top Industry Predictions For 2021
Berns Communications Group Unveils Insights from Its Retail Influencer Network
In 2020, the global pandemic disrupted retail supply chains, led companies to fast-track digitization and drove massive shifts in shopping behavior as consumers of all ages headed online to buy everything they couldn’t get in stores due to lockdowns or shortages.
To gain insight on where the industry is headed, Berns Communications Group asked the members of its Retail Influencer Network what they predict for 2021 as global vaccination efforts accelerate and retail and related sectors regain their footing. The Retail Influencer Network is a carefully selected group of senior business leaders and influential investors and analysts whose thought leadership is shaping the global retail industry.
“Since the start of the pandemic, our Retail Influencer Network has regularly brought together some of the greatest minds in retail to discuss these trends and better understand their long-term implications.”said Stacy Berns, President of Berns Communications Group.
According to these thought leaders, we can expect:
Travel and Entertainment Will Be Winners in the Second Half with consumers, particularly millennials and Gen Z eager to travel and eat out at restaurants again. It’s predicted that the money consumers save by not dining out will sustain increased discretionary stay-at-home spending through the second quarter, shifting to travel and entertainment in the third quarter
A Shift in Consumers’ Values as the pandemic has prompted a shift in the way people live and work, causing a more permanent shift towards remote working as well as the health and well-being industries.
A Return to Brick-and-Mortar Shopping, but with a Focus on Smaller Local Stores, with a creation of solutions such as micro fulfillment centers and livestream stores to engage with customers and meet demand. Foot traffic will spike initially but shoppers will also place more value in local small businesses.
Curbside Pickup and Ship-from-Store Fulfillment will exceed orders fulfilled from warehouses in major metropolitan areas as brands create more smaller-format fulfillment centers, says PredictSpring founder and CEO Nitin Mangtani.
More brand manufacturers will sell directly to consumers as the “MTC” trend gains traction,
Mobile will be the ultimate battleground. Apps deliver higher engagement and conversion and offer a more intuitive, feature-rich customer experience that can be blended with the sensory advantages of the store experience.
The Rise of Gen Z. As they are digital and social media natives, we’ll also see Gen Zers (who account for 30% of the population) emerge as the “winners” in the post-COVID-19 world.
About Berns Communications Group, LLC
Berns Communications Group is a New York–based strategic public relations firm widely known for connecting the worlds of technology and commerce in ways that improve and advance the shopping experience.
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