Retailing changes
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What are the top 5 future changes in retailing and their reasons/explanations?
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This solution discusses the top 5 future changes in retail.
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1) Advent of internet/ecommerce:
The most important prominent change observed in retailing in all sectors and goods and expected to continue and grow in the future is the increasing use of online shopping portals by consumers to purchase goods and services which has made it necessary for traditional brick and mortar retailers to offer their products via online medium as well. In fact, some industries have been so much affected by this trend that they are now forced to depend on online sales only for their survival, such as the impact created by Amazon on book retailing industry. The reason fo this change is the increasing availability and use of broadband internet by consumers and increasing awareness among the consumers with respect to online shopping. Further, it is not ...
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