The industry landscape is changing rapidly. The consumer's expectations are at an all time high. Following is a collection of articles and posts we're reading. We share some of our intrepretations and observations on the industry in our blog.
"With brick-and-mortar stores closing at a record pace, retail in the U.S. feels like it’s at a tipping point."
"Data is King ... Personalization + Automation = Profits ... Legacy Tech Won't Cut It."
"More workers in general merchandise stores have been laid off since October, about 89,000 Americans. That is more than all of the people employed in the United States coal industry, which President Trump championed during the campaign as a prime example of the workers who have been left behind in the economic recovery.
"Many investors who are not giving up on the notion that online retail and traditional stores can coexist and even thrive together. Retailers have hoped that their traditional stores, by offering catchy displays and top-notice service, can lure shoppers away from their screens. Some of the best evidence that brick-and-mortar retail is still viable may be Amazon’s experimentation with operating physical stores of its own."
"Some argue that the company should improve how sales staff are compensated for helping facilitate e-commerce business — like helping customers pick up goods in the store that were ordered online."
"But closing stores is not enough to ensure survival. Already, a majority of purchases, even if they take place in physical stores, are influenced by what consumers do online. This makes a robust omnichannel strategy indispensable. Retailers must also explore new models like showrooming, linking physical spaces to digital inventory, reducing overhead costs and improving productivity per square foot as exemplified by players like Bonobos."
"What’s more, in a world where fashion trends and consumer expectations are moving at the speed of digital, retailers who operate physical store networks must learn to keep up, offering new product selections and experiences that evolve as rapidly as Facebook’s news feed."