Omnichannel

Study: Many retailers were unprepared for 2020 holiday season

Photo by istock.com

March 9, 2021

A good number, 17%, of U.S. and U.K. retailers, were not prepared for the holiday 2020 sales season and missed out on sales.

That's a prime finding from a study conducted by Arlington Research and PFS, PFSweb's operations business unit, according to a press release.

Key findings included:

• 50% did not have enough time (or budget/people resources) to make proper operational changes ahead of peak 2020.
• 50% started the peak season promotions earlier in 2020 than 2019.
• Only 52% felt their technology stack was prepared for 2020's peak season volume.
• 52% are likely to begin outsourcing or change business process ordering providers for all or portions of their e-commerce operations in 2021 to meet changing consumer demand.

"This research highlights how big of a turning point peak 2020 was," Zach Thomann, PFS president, said in the release. "Brands and retailers have been forced to rethink their approach, with omnichannel investment and additional order fulfillment capabilities as a top priority for 2021 and beyond. The shift to a digital-first approach to retail will only continue to proliferate and the trends witnessed over the past holiday season will likely serve as a great indicator of what is to come."