What has Changed in Omnichannel Retail? In 2020: everything.
Checkpoint Systems takes a closer look at what has changed in the omnichannel retail landscape seemingly overnight due to the pandemic
THOROFARE, N.J., Feb. 12, 2021 /PRNewswire/ -- In a blink of an eye, we have seen a great digital shift in the retail industry. From changes in people's buying habits to the transformation in the way retailers engage with and support their customers. The pace of change in 2020 has seen retailers rapidly scale their digital operations, expand delivery capabilities, enter new markets and in some cases introduce new e-commerce opportunities entirely. These changes, coupled with new consumer behaviors, will leave a lasting change on the industry.
The combination of brick-and-mortar with digital shopping – omnichannel – was already accelerating but the pandemic has dramatically accelerated the growth of e-commerce sales. According to McKinsey, online sales had increased by 14% CAGR over the past four years. In the midst of the crisis, online purchasing grew 25% in a two-week period in March1.
With online expected to be the fastest-growing channel in 2021, retailers are under greater pressure to scale up their omnichannel offering. As a result, stores are fast becoming mini-fulfillment centers as retailers seek to ensure order fulfillment. Additionally, the events of 2020 have brought "buy online and pick up in-store" (BOPIS) to the fore front with retailers finding new ways to keep their customers safe and their loyalty strong by allowing customers to collect orders from the curbside.
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Checkpoint Systems has been delivering retail solutions for over 50 years. We understand the complexities of the retail market and have implemented our RFID solutions in distribution centers and stores around the globe. Our expertise and solutions make the complex simple. We have enabled many retailers to achieve high inventory accuracy and to accomplish fast and efficient omnichannel fulfilment. Having the right partner for all aspects of your RFID deployment ensures success and Checkpoint is the only company in the industry that handles everything from the factory to the store. Reach out to our team here or via [email protected] if you would like to learn more.
SOURCE Checkpoint Systems, Inc.
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