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Retail Industry Updates

Nearly 70% of Telecom Retailers Predict Wireless Device Sales Will Rise in Next 3 Years

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In a new study, “The Future is Anywhere: 2021 Trends in Telecom,” it’s revealed the sector’s retail future is looking bright, with optimism across the board as the telecom sector emerges from the pandemic.

The study, conducted by Vancouver-based iQmetrix, a management software provider in the telecom industry, is based on a survey of industry professionals across the U.S. and Canada to glean insights into today’s trends and predictions for what’s to come. The study found that respondents largely agree that the physical store still plays an important role, but only as part of an omnichannel retail experience.

According to iQmetrix, the results also suggest that the optimistic outlook will only stand up if retailers answer the call to meet customers wherever they are. This means retail operators need to be able to sell anywhere, so that their customers can buy anywhere: in-store, online, via search, on social media, at kiosks and pop-up stores, and everywhere else.

The survey report breaks the results down into five sections, including the retail outlook, the role of the physical store, omnichannel, and the future of buy anywhere. Other key findings are:

• Nearly 70% of telecom retailers predict sales of wireless devices will be higher in three years compared with today.

• 83.7% predict sales of smart home and IoT-connected devices will be higher in three years.

• Almost 80% have invested in buy/reserve online, pick up in-store, or plan to do so within three years.

• More than 30% saw e-commerce retail revenues increase by at least double over the past year.

• 87% have invested or plan to invest in engaging with customers via social platforms.

• 89% predict more growth in buy/reserve online, pick up in-store solutions over the next five years.

• More than 88% predict a much greater focus on customer subscription and loyalty programs over the next five years.

“Overall, these responses make up a very optimistic report — and an outlookthat predicts huge change, not the status quo,” said Stacy Hamer, vice president of client experiences at iQmetrix. “It shows that authorized retailers and carriers will have to align with each other, invest in new product sales, and adopt new retail channels. It paints a transformational picture.”

Here are the survey’s complete results.

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