The retail industry is evolving at an unprecedented speed, driven by an unpredictable economic climate, a proliferation of digital platforms and a paradigm shift from generating sales to elevating customer experience.
Granted, budget-conscious shoppers may be more mindful about what they buy. But they also crave memorable experiences that treat them like individuals. So, where does this leave most e-commerce brands and marketplaces? The short answer: eager to innovate
Between now and 2030, global management consultancy Bain & Company forecasts that “beyond trade” activities (outside the spectrum of traditional trade activities centered on generating revenues from selling stuff) will account for half of industry profits. Everywhere, it’s a race to command shoppers’ attention and encourage repeat visits in a market where experience is king.
Read the full article on Forbes.
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