Where Retail Is Going Now
A report just released by JWT Intelligence and presented for the first time at the WWD Digital Forum in New York is a thorough and in-depth look at where the business of retail is going. For most of the history of retail, society has watched stores and brands adapt to whatever changes have happened in the market, their customer base or general culture. Historically, you could see what changes were happening in retail by going into big stores. I keep being surprised that the drastic changes that have come upon retailers in the last several years have major retailers stymied. Now change in retail is harder to see because it’s only apparent in the nimble, newer, smaller competitors. Those companies have developed businesses in niche markets where the larger players aren’t as active. The JWT report is a great overview of what’s trending and what’s yet to come that isn’t apparent to the average consumer. The report says that it’s not enough just to think about selling products electronically. “The future of retail is becoming less about screens and even less about buttons.” It’s more about using technology to sell the right products in the right way, “It’s one of total immersion, intuitiveness and invisibility…total disintermediation from every previous traditional route to consumer.” It’s a very different age we’re now in. Selling electronically and selling in stores are coming together as one to create the most effective channel to consumers. Read more at Forbes.
