Barclays has surveyed more than 300 senior retail executives across the UK
26% of UK retailers think the pandemic has accelerated a technological revolution in retail, according to the survey.
In fact, 33% of retailers have had website upgrades, while 32% have started to accept new payment methods. At the same time, 26% have embraced data analytics for the first time.
To help decrease queues in-store, nearly a quarter of retailers have started offering ‘click and collect’ options.
The report also reveals that 28% plan to do more to support local communities, while a fifth believe the future of retail is in local high streets rather than city centers.
The research has also found a shift towards more localized business operations. For instance, 15% of retail businesses aim to lower the number of physical stores they have in urban areas close to office buildings within 2021.
We’ve reported that Sainsbury’s is trialing a virtual queuing system to eliminate the need to physically wait in line at the store. The trial, which will run via the app first, will be live at Sainsbury’s Uxbridge, Pimlico, Dome Roundabout in Watford, Leicester North, and Newham Royal Wharf stores.