2020 has already triggered unprecedented agility and innovation from retailers, but the year’s greatest test comes as the holidays approach. Even the most reliable shopping patterns have transformed as consumers keep safety and convenience top of mind. Their holiday plans won’t look the same, but they’re still searching for ways to spread cheer.
Eighty percent of consumer goods CEOs think their operating model is at risk.1 Why is that? Simply put, given how fast consumer preferences and the retail landscape are evolving, consumer goods businesses are being challenged to keep pace like never before. Consumer motivations and expectations are rapidly evolving.
In the current “experience economy,” where the most important currency is social currency, the ability to provide an Instagram-worthy experience is priceless. Learn more about how you can reimagine retail, and how technology fits in.
The retail landscape is constantly changing, with new challenges and opportunities around every corner. One of the opportunistic challenges in retail is digital transformation.
The idea of luxury is driven by a fear of missing out. But the nature of luxury is changing, from exclusive, high-end products to a focus on experiences.
Retailers targeting millennials have had to rethink everything they know about sales, from leading with experiences to ensuring sustainable business practices.
In today’s retail environment, customers want more control of their experience. And who better to provide that experience than well-trained, committed employees?
Think of your retail store not as racks and shelves, maximizing every square inch to hold product after product, but as a service—a way to build an experience.