While ambiguity and chaos may have defined the last few months, as far as the future is concerned, top retailers and marketers of Canada are hopeful that their industries will come back on track in no time. In August 2020, DX3 carried out a survey with retailers and marketers from a wide variety of businesses, for their opinions and perspective of the future.
Light at the end of the tunnel
While the last few months have been extremely difficult, it comes as a respite that a lot of retailers are still hopeful as far as the future of their industry is concerned.
A promising 62.1% of the survey respondents said that they are optimistic for the future of their industry although 76% saw their business being negatively impacted by the pandemic. The majority of survey respondents (62%) believe that their businesses will return to pre-COVID levels within the next 3 to 12 months.
While the business closure impacted various sectors in different ways, 45% of the respondents shared that they did not/are not incurring any additional costs to reopen or remain open.
Technology - The Trusted Ally
As situations changed and both retailers and consumers grappled with adjusting to these changes, technology proved to be a trusted ally. E-Commerce emerged as a much-needed support with many businesses moving online, and consumers browsing for products online and limiting their store visits to pick-up alone. Hence, it makes sense that 62% of the members of our community are looking to invest in technology in the next 12 months and 81% are looking at investing more than $50,000 in technology. 62% looking to invest in tech in the next 12 months
Within technology solutions, E-Commerce and Cybersecurity emerged as the two major areas that industry is looking forward to, as 33% said that E-Commerce is their immediate need and 29% are looking at Security solutions.
55.2% of the responders also felt that, in the present situation, they would be comfortable attending physical exhibitions and conferences, given the appropriate government clearance level. Interested in learning more? Join top retailers and marketers from Canada and beyond at DX3 Pulse on October 21, 2020 in productive virtual conversations on the way forward and evolving together as a community.
Follow the link to find out more.(https://www.dx3canada.com/dx3-pulse)