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Adobe Analytics predicts 2021 will be a banner year for e-commerce. During the holiday shopping season, $ 189 billion is spent online. New studies suggest that e-commerce sales will hit record highs by 2022. Revenue is projected to rise to $ 6.54 trillion from $ 3.53 trillion in 2019.
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Q3 2020 Hedge Fund Letters, Conferences and More
An e-commerce boom in 2021
With the e-commerce boom ahead, retailers are naturally wondering how to advance into 2021 with a digital strategy that will keep their businesses above the rising tide of ongoing economic challenges.
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Stephanie Millner, retail expert and vice president of CX management at Teleperformance, believes organizations need to prioritize customer-centric and high-tech, high-touch approaches to stay relevant in the face of increasing competition for wallet shares.
Stephanie comments: “Big brands that previously relied on bricks and mortar need to take a different approach to keep up with the consumer shift from the shop floor to the virtual store. It is now a matter of survival, and retailers who fail to adapt to new preferences could cease to exist once the pandemic is over. “
“As the New Year begins, retailers need to rethink their strategy and recalibrate themselves to break the form of transaction they have traditionally relied on. Restrictions have resulted in consumer attitudes towards the way we shop, interact, and values associated with businesses as a result of the pandemic. Previously underutilized touchpoints such as omnichannel experiences, pick-up at the roadside, self-service and automation have already accelerated in the past year, which shows that adjustments are possible. By 2021, these options and flexibility will prove to be critical to the overall shopping experience, and now more than ever, retailers need to create real value for shoppers. If they don’t, they could be left behind. “
Teleperformance is the global leader in customer experience management, working with the world’s leading retailers to improve the omnichannel experience for customers and customers while mitigating the effects of COVID-19.