The retail environment is changing faster than many brands realise. The evolution of retail is developing and brands need to embrace these new trends.
Back at the turn-of-the-century (I just love saying that) I was in retail management. Dance music retail to be specific. The stores that I ran pioneered cutting edge dance music and thanks to DJ culture, good old analogue 12” vinyl was actually experiencing sales and usage growth. Oh, how quickly things can change. It was around that same time that iTunes launched and changed the way that we purchase, manage and play our music forever. That was one of the first signs of the evolution of retail.
Fast forward 14 years and that sector of retail has changed so radically that now DJ’s can purchase music live on their smartphone in the middle of a playing a gig. According to data from Baynote the retail industry is forecast to experience more change over the course of the next five years than it has during the past one hundred years. News Corp CTO Tom Quinnrecently told CeBIT attendees that consumers are now innovating faster than businesses. Dynamic brands are capitalising on some emerging retail trends, however businesses that ignore the evolution of retail could be left behind.
In this article you will learn:
How innovative use of digital media can help win businessFive trends that are transforming the retail industryQuick fix digital media solutions to cover the basicsImportant things to know about retail in 2014 with a helpful Infographic
Via Russ Merz, Ph.D.