Insights

Download our report: Visualsoft x Klarna: Get set. Grow. How retailers are preparing for the return of demand

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COVID-19 has driven the biggest single onboarding boom for online retailers.

It’s been stated that eCommerce usage has accelerated 5 years in the last 12 months, smashing forecasts for growth as physical stores have struggled to survive multiple lockdowns.

As merchants switch, pivot and reinforce their digital offerings, there has been an increase in demand for retail digital optimisation. This has led to an explosion of new tech providers and many new choices for retailers.

But whether you’re an omnichannel, pureplay or a bricks and mortar brand looking to launch online, how do you know where you should be investing? Which innovations and tech partners are right for your business and will keep you ready for the future?

With the gradual lifting of lockdown, Visualsoft and Klarna wanted to discover how the rapid digitisation of shopping had changed retailers’ decisions and what impact it would ultimately have on their immediate and long-term investment plans. Do they still believe eCommerce will continue with the current growth trajectory? And what does a bigger digital focus mean for the high street?

To help us find out, partnering with payments provider Klarna, we undertook a survey of 200 UK omnichannel retail decision-makers, across multiple segments, to gain an overall insight on their tech-spend, their priorities and challenges. This helped us to understand the biggest gaps in their offering over the past year, what they did to solve them and how this is reshaping investment strategies for 2021 and beyond.

The findings, which form the basis of this report, reveal:

  • How COVID-19 has impacted tech-investment – in-store and out.
  • Where retailers have put their digital budgets.
  • Which areas of the retail tech stack are taking priority.
  • Which investments have seen the most success.
  • The challenges facing retailers when choosing a vendor.