Trends Driving the Future of the Retail Industry for the Next Decade
George Cosmin Tanase
Romanian Distribution Committee Magazine, 2017, vol. 8, issue 4, 24-28
The next decade is expected to be the age of the consumer, with shoppers having more choices and control than ever before. They will be presented with a growing array of products and services, often personalized to their specific needs and wants. Consumers will continue to demand price and quality transparency along with a wide range of convenient fulfilment options. Overall, the retail experience is poised to become more inspirational, exciting, simple and convenient, depending on the consumer’s ever-changing needs. The evolution in consumer demand, combined with transformative technological innovations, will continue to drive fundamental changes. The boundaries of “retailer” and “manufacturer” will continue to blur, as companies evolve to meet their customers’ needs. These forces will cause the retail and consumer packaged goods (CPG) landscape to change more in the next 10 years than it has in the past four decades.
Keywords: Consumer; Connections; Technology; Digital Space; Mentality; Experience; Business Models; Retail; Innovation; Organizational Capabilities; Opportunities; IoT; Autonomous Vehicles; AI; AR (search for similar items in EconPapers)
JEL-codes: L81 L86 M31 Q55 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:rdc:journl:v:8:y:2017:i:4:p:24-28
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