How Retail Is Utilizing Technology To Keep Up With E-Commerce

by MR Magazine Staff

A major transition for established brick-and-mortar retailers and consumer-packaged-goods companies is underway whether they like it or not. The transition has to do with the fact that digital transformation and software are permeating every level of business, from warehouse management systems to the supply chain on the blockchain. While brick-and-mortar retailers are not ready for the change, new consumer product companies are taking advantage of the opportunity by not only undercutting the incumbents’ market share but also creating more valuable products for consumers. New companies are offering higher quality and lower prices because the middleman has been cut out of the equation. Equipped with larger profit margins, new brands are reinvesting their profit in R&D at a much higher rate than CPG companies, where R&D is virtually stagnant or nonexistent. Read more at Forbes.