Question

Retailing is a hot topic in the news. Experts think that we are in the midst of a significant shift in retailing. Many more people are shopping on line. Amazon in dominating the e-commerce world.   Find a current article(s) on the state of retailing. Read and summarize the article or articles points. What are some of the emerging trends you are seeing? What are the greater implications for retail businesses and consumers?

Answer 1

The article on the state of retailing is "The state of Retail-2018". The link to the article is https://static1.squarespace.com/static/52ca9f04e4b083e90ec41c17/t/5a5604b0e2c483133c606b74/1515586774360/white+paper+ENG.pdf

Summarizing the article:-

This article focusses on retail conditions of US,UK,Germany, France and Spain. It suggests that Consumer confidence provides strong foundation to business.This article explains that with ever growing competition LOYALTY of customers equals to profits.It focusses on brand loyalty in different countries.Costumer satisfaction is the key in the business today and those who focus on promoting product quality, unique customer experience,convience, personalisation and innovation will floursh. In this competitive world PRICING plays a major role in business. Internet and E-marketing are growing but still physical stores remain as the priority of the customers. This article suggests that if the frauds involved in online marketing are removed it will flourish really fast. Technology is the new God and retail business is no different, it will be affected by technology.

This article gives a very beautiful insight of current retail market as well as tells us about the the future of the retail.

Emerging Trends that are emerging;-

1)Consumer confidence will provide a strong foundation.

2) Brand loyalty will be challenged in some markets.

3)Stores that offer more personalisation and innovation will thrive.

4)Pricing will remain a key factor.

5)Physical stores remain highly relevant.

6)Brands will continue investing in omnichannel.

7)Better payment security will allow online shopping to prosper.

8)Retail and technology will become inseparable.

Greater implications of Retail businesses and consumers:-

2018 will favor retailers using bold ways to personalise and elevate every aspect of the shopping experience.