Current Retail Trends and Considerations
Meteoric changes in technology are changing the way consumers shop, transact, and acquire goods and services. The most glaring change is the way people shop — particularly anyone under the age of 45. Buying decisions are now largely made without ever setting foot in a store, and brand loyalty has never been tested to the extent it is today.
The retail industry has long been able to sidestep the need to invest in systems and leading edge technology in the storefront, but is now poised to witness rapid returns on these advances. There is a great opportunity for retailers to emerge as industry leaders and, more importantly, gain competitive advantage by harnessing the potential of this new technology.