HTEC Retail Roundups examine retail technology trends, digital retail innovations, and disruptive products.
In this edition, read about what retailers are doing to adjust and execute their digital strategies for the 2020 Black Friday and holiday season.
Black Friday online and mobile purchases set to continue explosive growth
As expected, online retail is going to show an even bigger increase in 2020. In 2019, Black Friday online retail sales in the US spiked by 334% when compared to the first four weeks of October, according to a report from Criteo. Cyber Monday saw a 330% increase in sales. According to the same report, mobile accounted for 57% of transactions, with app sales increasing by a whopping 146% on Black Friday 2019 compared to 2018.
Holiday consumers eager to buy local as well as shop online
In 2020, according to Google’s Consumer Insights, almost 75% of U.S. holiday shoppers said they will shop online. The same report shows that the trend of buying local is continuing to rise as 66% of people say that they will prefer to shop at local small businesses. And 47% of shoppers said they’ll use touchless options such as buying online and pickup in store/curbside pickup. All in all: safety, price, convenience, and supporting local businesses will be top of mind for holiday shoppers this season and retailers need to prepare to meet their customers on the platform and device of their choice.
Omni-channel strategies vital for connecting with younger generations
An omni-channel approach is a must. As new generations of shoppers seek to engage with brands on social platforms, research products on multiple digital marketplaces, and buy from brands that align with their personal beliefs, they want to identify with a brand’s personality and values. As such, a modern approach to e-commerce focuses on designing a cohesive user experience at every touchpoint. [BigCommerce & HubSpot]
Tesco joins green retail revolution with net zero pledge
The green retail race is accelerating in Europe as the UK’s largest retailer, Tesco, pledges to achieve net zero carbon emissions by 2035, according to Charged Retail Tech News. To achieve this ambitious goal, Tesco says it will begin rolling out electric delivery vans, with plans to make its entire fleet electric by 2028. In addition, Tesco will install thousands of solar panels across its stores while partnering with renewable energy investor, Low Carbon, to build three solar farms in Anglesey, Essex, and Oxfordshire.
On a side note, let’s not forget to mention the other goings-on in the retail tech world. Read about Alibaba Group’s new record sales, UK retailers’ promise to reach Net Zero carbon emission by 2040, Ocado’s IP investigation in the US, Amazon’s antitrust charges, and more on RTIH.
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