Sebastian Schulze, Co-Founder and Managing Director, Fit Analytics
2020 has changed the world as we know it – and few industries are feeling this monumental shift as much as retail. The global pandemic has forced retailers to focus on their e-commerce operations. While e-commerce was already on the rise, this year’s global changes have accelerated the shift from in-store to online shopping. So what do companies need to consider when making the rapid shift from bricks and mortar to online?
E-commerce is about technology, not just retail. Many companies try to scale old retail business models online, but this isn’t enough. To be successful in the new online retail world, companies need to be driven by technology and data. Most new technologies on the market that support e-commerce are reaching towards one common goal: personalisation. Online merchants need to meet shoppers where they are, and personalisation technologies connect these retailers with their customers.
While retailers are worried about …