The retail industry is evolving at a blistering pace. Many brands and retailers are struggling to pivot their business models fast enough in order to survive the disruption. Shifts in consumer behaviour, technological advances, the rise of the experience economy and other critical factors are weighing on traditional retail business models which are being put to the test in our data-driven age.
Richard Lim, CEO of Retail Economics touches upon various key issues facing retailers and brands as we transition towards more digitally-driven, experience-based retail environments where companies are struggling to "survive in rapid change".
Topics covered include:
Retail business models in transition
The Sharing Economy
Product/service personalisation
Auto replenishment / smart re ordering / AI
The Services Economy
The new role of retail stores
Multi channel marketing / Omnichannel
Consumer behaviour
Technology - impact on retail sectors
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