The New Rules Of Retail
The U.S. retail marketplace is undergoing an unprecedented transformation, thanks to a number of change-making factors. We’re all aware of the meteoric rise of e-commerce and the recent decline of brick-and-mortar retail, but that’s only part of the story. Retailers across the country are also struggling under the weight of debilitating debt, largely due to leveraged buyouts from private equity firms. To complicate matters further, many young people are spending less money on products, opting instead to invest in experiences. Despite these alarming trends, retail is still thriving — albeit in a different way. According to Adobe Analytics, U.S. retailers raked in a record $7.9 billion in online sales over Black Friday and Thanksgiving in 2017, up 17.9% from 2016. Some retailers, like Target, are capitalizing on the opportunity of the e-commerce boom by improving their online platforms, while simultaneously tending to their outdated brick and mortar stores to enhance the customer experience. This emphasis on a well-formed digital storefront and a carefully curated physical presence has been the key to Pink Lily’s success and has surely contributed to our sales during our first four years in business. Read more at Forbes.
