3 revealing predictions for North American online retail in 2021

Moderate acceleration in online sales

What is most closely linked to the epidemic and business in 2020 is how retail trends will develop, especially e-commerce .

The sharp increase in online shopping penetration in North America last spring has eased so far , but it is foreseeable that the enthusiastic pursuit of necessities due to the epidemic is slowing down , necessities are no longer dominant, and consumer demand is inevitably rebalancing towards more psychologically driven shopping.

Physical retail is "resurrecting"

Data shows that e-commerce has developed rapidly in the past year , but the platform still cannot completely replace the physical retail industry. Physical stores are still the place where the vast majority of consumers prefer to trade. Although many stores have closed , data shows that dozens of well-known brands in multiple categories opened more than 4,000 stores last year. Moreover, many brands announced that they plan to open many new stores. Even e-commerce giants Walmart and Amazon have made large investments in physical stores.

Therefore, in the new year, e-commerce will still have to face competition from the resurgence of physical stores.

Sales methods need to be mixed

The creation or rapid adoption of hybrid models already characterizes many aspects of North American consumer life. From how school and work are completed to how we exercise and attend industry conferences , all are moving toward some form of hybrid of physical and online . This is not new for the retail industry. The consumer is the channel, and exceptional retailers must strive to provide a harmonious experience.

A rapidly growing percentage of e -commerce actually involves stores, as ship-from-store, BOPIS, and curbside pickup play a growing role. Retailers such as Dick’s Sporting Goods say more than 90% of its total sales are tied to stores. This phenomenon will prompt a fundamental rethinking of the role and configuration of pickup locations . More will have to become hybrid : part shopping venue, part showroom, part inspiration, part service center, part brand billboard, part fulfillment center.

2021

North America

Online Retail