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Top 10 Companies Revolutionizing Retail 2020

COVID-19 has driven consumers indoors — and online. Consumers are 30.6 percent more likely to make their purchases online in 2020 than they were in 2019, underscoring the increased reliance on digital commerce now that retail stores are closed until the pandemic recedes.

Yet consumers’ increasing dependence on connected devices to shop extends beyond remote shopping. PYMNTS research shows that consumer usage of mobile devices in stores has also increased since 2019, with the share of consumers who report using their mobile devices to enhance their in-store experiences having increased from 49.6 percent to 72.1 percent during the last year.

In the 2020 Remote Payments Study, PYMNTS surveys 3,477 consumers to learn how life on lockdown has transformed consumer spending habits — and the results are, at times, surprising. Research shows that consumers are not only shopping more online as the lockdown progresses — they are also using their connected devices to shop for more discounts, especially while shopping in stores.

The post-COVID retail market will be likelier to be heavily tech-dominated. As more and more consumers become aware of public health measures, safety is likely to be a top priority. And that’s retailers need to rapidly adapt to the shifting trends before markets fully reopen.

Digital retail is no more limited to eCommerce website development and digital storefront management. With so many things in retail changing so rapidly, businesses need to adopt an agile approach when it comes to deploying technologies. To help you navigate this crisis in an enhanced manner we are bringing forth some of the most innovative players in the Retail arena who are transforming the arena in the most revolutionizing way.

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