Pandemic accelerated use of tech products despite slowing other economic sectors

The pandemic has drastically accelerated the implementation of new technology for many retailers

tech product

Pandemic accelerated use of tech products despite slowing other economic sectors. Source: pexels.com

According to NRF, 58% of people in the retail sector experienced growth in technology product launches.

This comes as technology helps elevate consumer experiences and enhance business operations. 31% of consumers have taken advantage of these technologies to purchase furniture and even household products. Technologies such as virtual reality and augmented reality have been vital in connecting brands with consumers.

Retailers have also accelerated the implementation of such technologies due to the pandemic. Innovations that would otherwise take years to be unveiled were available in weeks. Approximately 30% of consumers used new retail channels to make purchases. China has an adoption usage of 63% while the United States recorded a 29% adoption usage.

Technology will continue to be used to improve operational efficiencies and elevate the customer experience, positively impacting brand perception as a result
Michelle Evans, senior head of digital consumer at Euromonitor International

Apart from online transformations, enterprises also increased in-store technology innovations. 40% of customers prefer using top features such as a smart cart, walk-out, walk-in or even scan-as-you-go technologies.

And now as customers resume in-store shopping, tech innovations will still increase, with 42% preferring in-store robots assistance. One in five consumers are also open to the use of microchip implantation payment-based systems.

We’ve reported that British enterprises are likely to experience hardships.

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