Transitioning from retail to consumer commerce
The Future of Retail
In this point of view, we explore the critical signals of change currently influencing the global retail environment and why the market is changing.
Retailers want to turn the page on the disruption of 2020. Yet they are unsure exactly what the future will bring.
Much has changed over the past year. But the reality is that many of the changes wrought by the COVID-19 pandemic – to buying behaviors, to workforce models, to channel mixes and to business models – were underway long before the pandemic. COVID-19 only accelerated these trends (in some cases by 5-10 years), driving an unprecedented level of urgency to retailers’ actions.
As these trends evolve, the links between physical locations and the ability to sell products and services are fraying quickly. And, as they unravel, the shift from ‘retailing’ to ‘consumer commerce’ is picking up speed. Indeed, the entire definition of what it means to be a retailer is changing.
In this point of view, we explain why the market is changing. We describe what the winning business models of the future will look like. And we explore how you can achieve this transformation, outlining the key capabilities and strategies you will need to move your organization into the future.
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