In recent years, there have been significant changes in retail. The most important thing is non-attachment to the store and its availability anywhere and at any time. These changes happened just in time, because without the development of e-commerce, it would be extremely difficult for small and medium-sized businesses to survive during a pandemic. Fortunately, innovative companies have managed to adapt to difficult conditions.

One of the important factors for companies was the role of technology for agility. Not only for the current performance, but also for the contribution to the future. Companies strive to enhance service quality and business performance.

The pandemic has become a factor pushing a rethinking of all processes associated with shopping. Everything about orders, opals, delivery, returns, etc. The resolution of these issues influenced not only a difficult period, but also made a significant contribution to the future.

For example, with Dynamics 365, retailers have the ability to provide flexible shopping options. Dynamics 365 Commerce empowers businesses to interact through evolving channels where consumers can shop easily and regardless of location or device.

Over time, the pandemic will go away, and companies will have to adapt to the new norms. Let's consider the main trends that will continue in the field of trade.

1. Flexibility in fulfilling orders

One feature that is widely used is the BOPIS indicator. With it, the purchase is carried out online, and self-pickup is offline. During the pandemic, this figure increased by 208% compared to the previous year. This method has proven to be in high demand among customers due to its comfort. This has led to its proliferation in areas such as grocery and retail.

2. Flexible to return

The flexible return option also provides convenience for shoppers if they are unhappy with an item. By 2020, buyers will have returned nearly $ 430 billion worth of merchandise, nearly 40 percent more than a year earlier. The trend is to maintain the same level of flexibility and return comfort as during a pandemic.

3. No contacts when paying

Previously, contactless payments were also widespread using radio frequency identification (RFID) and short-range technologies. Due to the desire to avoid touching surfaces, the use of contactless payments increased by 30 percent. This means that it no longer makes sense to restrict the buying process to a place or method of payment.

4. Omnichannel retail

Omnichannel retail payments were also a priority for many companies even before the outbreak of the pandemic. However, Covid 19 has only accelerated the transition for many companies to a more accurate multi-channel solution. This approach has become practically the most important requirement for the survival of modern retailers. In fact, the understanding of the store has completely turned upside down, now this place is understood not as the only way to shop, but as an opportunity for a tactile experience.

Microsoft solutions for retailers to deliver on brand promises

Consumers have already experienced each of the 4 retail development trends. And of course, everything is moving only towards greater flexibility. The pandemic was not a starting point, but rather an impetus for change and development.

Article publication source:
https://cloudblogs.microsoft.com/