US retailers are experiencing a 40% increase in online sales since the Coronavirus shutdown went into place, however a new study reveals many brands are falling to capitalise on the Covid-19 related growth in e-commerce due to crippling tech anxiety. .
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Researchers found that 40% of retailers have been put off completely from making a technology investment because of the array of software options that are available to them and 51% agree that they are suffering ‘tech anxiety’ when it comes to software purchases.
The new study by Brightpearl, a digital operations platform, set out to reveal what types of software retailers are investing in for 2020 by polling hundreds of merchants from across the US. One concerning statistic pulled from the study highlighted that more than half of American retailers (51%) admit they do not have the time or expertise to confidently make major software investments.
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“The anxiety that retailers are experiencing is understandable but now is not the time for merchants to adopt a ‘wait and see” approach”, says Nick Shaw, Chief Revenue Officer for Brightpearl.
“In the face of rapidly changing consumer lifestyles and shopping habits, businesses are finding the need to pivot quickly to stay competitive in today’s landscape. Brands must think strategically and make the necessary adjustments to their retail operations to capitalize on the uplift of online demand, or they’ll potentially miss out on the ecommerce boom. We’ve seen a number of our ecommerce customers quickly adding multiple channels, changing their delivery models or offering curbside pick up as a response to the shifts in shopper needs and behavior but that’s only possible with the right technology in place.”
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