Rewriting the rules of new retail has been saved
Rewriting the rules of new retail
The frequent lockdowns, global and local travel restrictions, and other disruptions over the last 18 months due to COVID-19 have fundamentally changed consumer behaviour across categories, with far reaching impact on retail, distribution, payments, and supply chains. It has defined a “new normal” for businesses and may have altered business dynamics forever. The acceleration of technology adoption across the consumer and retail industries has become a critical aspect for surviving in the new normal and coping with the rapid changes. As a result, most retail businesses are re-thinking their in-store and online customer experience (CX) and engagement.
Market forces are shifting
Markets are certainly shaped by consumers and technology, but what is of equal importance are the external market and economic forces that shape the competitive landscape.