For today’s online shoppers, on-demand services, inventory transparency, curated recommendations, mobile- supported experience and flexible delivery options have become table stakes. As consumers return to stores, they expect these immersive moments and entertainment, as well as immersive moments and entertainment, personalization and hyper-convenience.
To drive growth within today’s competitive marketplace, retailers have long-term, sustainable strategies. We see multiple companies – across retail sectors – responding with truly transformative innovations. Leaders are capturing new business, embracing experimental platforms and channels, and testing selling models that put the consumer in control. What’s more, retailers are shifting their entire business model to embracing social and economic goals and initiatives.
Consumers have a wealth of data, which is then explored further. Going forward, retail transformation will advance through test and learn iterations, smart data applications, personalized services and digital transformation technology, all through the lens of community and social impact.