- On February 5, 2021
In 2020, the manner in which most companies conducted business had to change out of necessity. Companies were pivoting their practices on a moment’s notice to avoid going out of business. The coming year has more adjustments on the horizon and today we’ll be delving into those predictions.
How Channels Will Continue to Evolve
- The traditional product is changing. As technological advances continue and more popularity in artificial intelligence (AI) and automation rises, product demands will change. For the past 40 years, the marketplace has been capitalized by traditional products–an item with a physical price tag. However, as more e-commerce companies rise, there will continue to be a shift in the marketplace from physical products to virtual goods and services.
- Automation channels are going to increase in popularity. During the pandemic, companies had to rethink machines and operations conducted by people. Social distancing guidelines and limitations on how many people could occupy a space caused many companies to automate a lot of their practices. While that helped businesses to continue their operations, it also increased efficiency and eliminated worker fatigue since the workers were now machines. This practice has proved quite advantageous and many companies will continue to use automated machinery even past the pandemic era.
- The E-commerce channel will grow more than ever. When people were no longer able to shop in-store, the online marketplace skyrocketed. Online shopping wasn’t anything new, but it wasn’t quite as much as a necessity before COVID-19 happened. The convenience, the ease, the ability to shop at any time without worrying about a store closing, has made e-commerce a popular choice. Companies that didn’t offer an online store before have started to offer those services. Since the pandemic is still taking place, the dependence on e-commerce is not going away anytime soon.
Forrester Offers Additional Thoughts on this Topic
Forrester is a company that offers blogs and podcasts on channel partnerships and alliances. They offer tips, suggestions, and insights on channel marketing. If you’d like to read more about the 2021 predictions, click here to see the full article.