The death of retail or a retail renaissance: Which is it?

It’s the same story retold over and over again. Innovate or die. The market even in bad times, has retailers that do well and other that perish. The difference is, the ones that prosper nad grow are the ones that continue to innovate, adapt and understand the changing customer needs. The rise of online shopping is no different. How is your business changing and adpating to the changing customer needs? The article is good guide to benchmark your business activity in meeting this challenge.

RCE_comBoth property companies and retailers are reporting a crisis and the death of retail. Stores are being shut down or shrinking their footprints, and the traditional retail format with merchandise lined up on shelves is a dying breed.

Yet at the same time there is a renaissance going on in retail, and we are seeing examples of brands and retailers who are able to reinvent their businesses and adapt to a new market and new consumer behaviours — allowing them to increase customer loyalty in the bargain.

So what are the success factors driving this? And what will the stores that succeed in reinventing themselves in a world where the digital is merging with the physical look like?

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