Beyond Data Collection—Top Retail Priorities for the Year Ahead

Retail & Consumer Industry Innovation in 2021

How retailers are applying the lessons of 2020 to accelerate their digital transformations in 2021

The retail industry continues to be hit hard by the global pandemic, but the disruption of 2020 also forced retailers to innovate faster. In short order, retailers reinvented themselves to address rapid changes in consumer habits and local safety restrictions. Many of those changes will likely become permanent. And now, retailers are focused on gaining traction in their digital transformations to meet the demands of the fully digitized consumer.

Find out which customer data strategies retailers are prioritizing for a successful 2021, for example:

  • At least 60% of respondents will:
    • Analyze customer preference data
    • Leverage their stores as edge warehouses and fulfillment centers
    • Use more demand signals to anticipate local demand
  • Making real-time holistic customer profiles available to associates is the top data strategy for a plurality of respondents (27%)
  • A majority of respondents (52%) plan to prioritize clienteling data in 2021

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