It’s among the world’s biggest and fastest growing industries. It touches everyone, no matter their location, occupation or age. It also encompasses several different sub verticals (apparel, home goods, health and beauty, luxury, sporting goods, etc.), each of which has its own nuances.
Retail is complex.
Its broad, global reach requires ultra-focused strategies around products, audiences and marketing. It’s a crowded industry with ever-increasing competition. And it’s subject to the whims of consumers.
Perhaps most importantly, Retail is ripe for disruption.
It’s existed for centuries and will continue to exist in some form or another, even as society and technology evolve. It’s already experienced several major shifts over the course of time. For example, we’ve seen broad swings in market leaders, with Amazon swiftly usurping Walmart as the retail leader less than 30 years after Walmart claimed that title from Sears. We’ve also seen the rise of new technology like smartphones and social media completely alter where and how consumers spend their time and money ––ʂforcing retailers to adapt accordingly.
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