Retailers need to embrace the digital era in their future strategies

Retail Economics explores the challenges that retailers face in their Future of Retail white paper, and how they need to incorporate digital and mobile technologies in their strategies going forward.

This is an exciting but challenging time for UK retail. The growth and adoption of digital and mobile technologies has caused a fundamental shift in the way consumers shop and interact with retailers of all sizes and types, in all locations. Transparency in price, service and quality has never been more ubiquitous.

This report focuses on the most significant challenges facing UK retailers today. We investigate the most important structural drivers of change facing the retail sector, report what retailers are concentrating on in the short-term to combat these shifts in consumer shopping habits, analyse how these changes have affected the retail business model (suggesting many retailer’s business models are no longer fit for purpose) and describe the process retailers will need to go through, a period of digital transformation, to be able to thrive in an increasingly digitally influence retail environment.

Topics covered include:

• Strategic transformation needs to embrace digital era.
• Retail business models no longer fit for purpose.
• The changing nature of the retailer cost base.
• Future Focus: The retail digital transformation.
• Seismic shifts could change the retail paradigm.

This Future of Retail white paper offers a comprehensive insight into the challenge retailers are facing today from the seismic shift in consumers’ shopping behaviour.