GLOBAL RETAIL TRENDS: RETHINKING THE STRATEGY OF DOING BUSINESS

George Cosmin Tanase

Romanian Distribution Committee Magazine, 2021, vol. 11, issue 4, 27-31

Abstract: Clearly, this year s pandemic has created massive challenges for all retailers around the world. For some, it may have presented opportunities. The past few months have brought unprecedented uncertainty, complexity and change to the industry. In its wake, some of the retailers will thrive while others struggle to survive. Interestingly, COVID-19 has accelerated key fundamental trends that were already influencing the sector: business model evolution, the value of purpose, the ruthless focus on reducing cost and the increased power of the consumer. Rather than stoping these trends in their tracks, the recent shifts in retail fundamentals has made these trends even more acute and urgent.

Keywords: Innovation; Competition; Opportunity; Business Model; Consumer Environment (search for similar items in EconPapers)
JEL-codes: L81 M31 (search for similar items in EconPapers)
Date: 2021
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