The Growth Of The Retail Industry Essay

710 Words Jun 19th, 2015 3 Pages
The retail industry will face many challenges in the coming years. These challenges include demographic change, raw materials becoming more expensive, consumers changing their behavior due to increasing digitalization and e-commerce. Three of the most important factors that will shape the retail environment in the coming years will be the mobile Internet, multi-channel and demographic change. The dramatic spread of smart- phones and tablets will continue to change the way consumers make their purchases and how retailers will need to communicate with customers. Consumers are now able to access large amounts of information via mobile devices and have therefore have never had as much transparency over products and their prices as they now have at their finger tips. Mobile devices provide retailers with new ways to communicate with their customers. Similar to what’s going on in many industries, the retail business has seen the emergence of the empowered customer. Throughout my research I believe retail will continue to grow dramatically and brick and mortar stores will remain the most important point of contact between retailers and consumers. However, the way consumers make their purchases will change. More than ever, retailers are relying on their supply chain partners to be the inventory record keeper. Retailers will send their data to the third party logistics provider or link their point-of-sale system with them in order to provide an up-to-date, view of…

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