A lot of predictions have been made about the future of retail, but the bottom line is that the power is shifting from the retailers to consumer.
In the early days of retail, producers had the most say about pricing and distribution. Over time though, the Internet has brought about more information and transparency in the form of review websites, price check apps and social media putting the power into consumer’s hands.
As a result, shoppers now have more control over what to purchase and where to buy it from, leaving retailers with the challenge of vying for consumer attention. And that’s why the emerging trends for 2015 are all about grabbing and keeping interest of shoppers.
From Omnichannel retailing and mobile wallets to iBeacons and pop-up stores, retailers are learning that their survival depends on how well they adapt to this customer-centric reality.
