Retail is one of the world’s most dynamic and competitive industries. Like many industries, it is feeling the effects of powerful economic, demographic and technological factors, which are driving change across the board.
Retail is experiencing a metamorphosis of sorts, as it confronts disruption from new market entrants that are taking advantage of low startup costs in an attempt to steal market share. The industry is also adapting to a radically different world of shopping inhabited by consumers willing to try new things.
Today, consumers can shop everywhere all the time – on the couch at home, between meetings at work or riding on the subway. And they shop using a variety of channels, including stores, kiosks, phones, tablets, computers, televisions, game platforms and, soon, virtual and augmented reality devices.