Book

Reengineering Retail

The Future of Selling in a Post-Digital World

Doug Stephens

Figure 1 Publishing, 2017

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The e-commerce explosion is revealing the flaws of the retail store business model. Overhead and inventory hamstring brick-and-mortar stores’ efforts to compete with unencumbered online retailers. The consumer’s ability to go online easily to check the prices of competing products drives all prices down, so price is less of a differentiating factor. Brands must compete on other merits. Digital experiences changed shopping. Virtual reality and other technologies are increasingly blurring the lines between the digital and physical worlds. The components of a retail environment and the way people purchase products will keep changing radically over the next few years, says retail expert Doug Stephens. People still want to go shopping, but they will demand stimulating experiences. getAbstract recommends his insights to marketers, store owners, entrepreneurs, investors and potential retail disrupters seeking a cogent, pragmatic overview of the future of retail.

Take-Aways

Before long, e-commerce will weave into the fabric of everyday life, making every media interface a potential point of purchase.
In 2012, Walmart’s sales were 16 times greater than Amazon’s. Now, it must compete with Amazon, a technology and data powerhouse that “also happens to sell things.”
In 2015, China had twice the number of Internet users as the US has citizens and only half of China’s population was online.

About the Author

Retailing expert Doug Stephens founded the Retail Prophet consultancy. He also wrote The Retail Revival: Reimagining Business for the New Age of Consumerism.

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A. S. 4 years ago

take risks will help you to find new ways ... be disruptive!

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