In case you haven’t noticed the era of big-box retailers has come to an end.
That’s not to say that many of them won’t hang around for a few more years, clinging to life support. it’s just that the future of retail lies in being agile and brands that can best accomplish this will survive.
My insight into this is that ultimately the consumer has all the power in this relationship. Retailers have the choice as to whether or not they re-evaluate their omnichannel strategy, their customer experience and how often they do so. With that being the case, I can’t help but notice how soo many retailers, whether out of loyalty to one platform or because of unchecked egos, have grown complacent and are failing to keep up with changing consumer demand. They simply believe they are infallible.
Word of advice, if you’re selling the same way in 5 years as you’re selling today you probably won’t be selling much.