Industry executives and experts share their predictions for 2021. Read them in this 13th annual VMblog.com series exclusive.
The Top Trends in The Digital Workplace, Retail and Sports
By Ryan
Mendoza, Partner, Scrum Ventures
Looking ahead
to 2021, the changes that we experienced as a result of the global pandemic
will continue to impact our lives. As the world becomes more digital, the way
we work, shop, play and sleep has changed at a pace we previously never would
have believed possible - which presents new opportunities for the future.
In 2021, I
believe there will be a number of new technology innovations that will impact
the enterprise and our daily lives. Retail will need to adopt technology to
convince customers to shop and purchase products, the automation will
accelerate efficiency in the workplace, and esports will rise the ranks in
popularity with today's youth - just to name a few.
Below are
some thoughts from myself and my colleague on the key trends that will shape
the New Year:
Ryan
Mendoza, Partner
AI/R gains more speed in retail
The great
migration from in store to online shopping brought on by COVID-19 leaves ample
room for technology intervention to improve the customer experience, retain
happier customers, and lower acquisition costs. AI and AR both will become
prolific and mainstream in 2021, so expect to see more digitized efforts from
the largest brick and mortars to smaller boutique shops. This tech will be used
across many functions from customer and sales support, personalized experiences
and marketing, and product visualization, and those retailers that don't jump
on this bandwagon will be left behind in the dust.
Accelerated automation in the digital
workplace
Automation
has been a buzz word for years now, but with the digital transformation of the
workplace, 2021 will bring in new technologies and companies with a vertical
focus will improve the efficiency of how we work by automating mundane tasks
and operationalizing the acquisition and use of data.
The ‘work from anywhere' mindset brings in new
tech and services:
As we get more accustomed and ingrained with
remote work in 2021, we'll start to see a migration to working from anywhere,
not just the home office. The location of employees and where work is done will
become less important, so tech and tools will need to travel too. The behaviors
we will see will be anything from employees working in short term coworking
rentals to long work vacations. These longer ~ 3-month work vacations will
drive demand for Airbnb and a greater need for more work capabilities within
the rentals, thus driving Airbnb as a platform for other businesses to offer
new products within rentals.
Michael Proman, Managing Director
Don't sleep on sleep (tech)
As rest and
recovery becomes even more critical to high intensity, at-home workouts (along
with mental stability and immune health), the next chapter of the stay-at-home
economy will be investing in how we recharge. Look no further than Sleep
Number's stock price over the last 6 months -- a 200% increase: consumers are
increasingly looking for a better night's rest and tech can play a massive role
in providing personalized solutions that address an increasingly large market
opportunity.
Traditional youth sports participation is
declining at historic levels... so where are these kids spending their time?
They may be
too young to be day-trading on Robinhood or legally betting on sports, but they
are becoming avid gamers. Factor in a cold, dark winter and consumption will
only pick up -- adding pressure to high-school sports leagues to formally
recognize eSports as a legitimate (sanctioned) extra-curricular activity. In a
time where colleges and universities are cutting sports to reduce costs, we
might not be too far away from the day they start adding them back with an
immediate focus on eSports. "Signing Day" on ESPN could look a lot
different very soon!
With cities and states haemorrhaging cash and
slashing budgets, could legalized gambling be part of the economic turn-around?
Coming from a
state that could use the revenue, I'll answer that in the most
Minnesota-appropriate way: you betcha! The pandemic will accelerate
legalization and create new opportunities in 2021 for tech to reach and convert
casual bettors in the same way that teams, leagues and properties are
determined to connect with occasional fans.
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