3 Ways Young Entrepreneurs and Freelancers Can Disrupt the Retail Industry
Deloitte’s 2021 Retail Industry Outlook report has some relevant findings for those willing to think outside the box.
Many young entrepreneurs and freelancers see opportunities in the highly disrupted 2021 economy, particularly in relation to bringing new products to digital markets that are only starting to stabilize in response to the pandemic.
Deloitte’s “2021 Retail Industry Outlook,” which surveyed fifty retail executives to analyze trends within the industry, demonstrates some of the unique ways young entrepreneurs and freelancers can benefit from retail trends. Digging in, we are able to see some ways that freelancers and others can pivot in 2021 to take advantage of retail industry shifts and turn existing skill sets into new avenues of professional growth.
Talent needed for digital formats
One of the major themes in the 2021 Deloitte report is an emphasis on reimaging how digital space is used by retail companies, and the importance of proactively orienting toward digital marketplaces as a long term strategy, not a short term stop-gap. In order to accomplish this, Deloitte recommends hiring digitally savvy, versatile talent that will reimagine websites, apps, and digital spaces to increase sales and improve UI.
Young entrepreneurs are also tapped into one of the biggest concerns for consumers today: trust, privacy, and transparency. According to Pew Research, 81% of the public believes that the potential risks of data collection by companies outweigh the benefits. Designing sales fronts and apps that put data privacy and consumer protection to the forefront of UI development will give new entrepreneurs an edge in an ever more cautious digital space.
One of the major lessons learned from the retail environment of 2020 was that supply chains were delicate and consumer behavior was harder to predict. Young entrepreneurs will succeed at solidifying supply chains and distribution networks through innovative partnerships forged outside of traditional frameworks that struggled to adapt in 2020. These will require digitally savvy talent able to reimagine how data is…