Executive Briefings

Riding the Tumultuous Waves of the Retail Industry

The retail space is changing. Twenty years ago we used to shop and buy in person at retail stores. Ten years ago, the internet started a change wave. We could buy online but were not ready yet. So we shopped online, but we still bought in person at stores. Now we have reversed this trend completely. Today we shop in retail stores to see and touch, but we buy online because prices are lower.

This trend has reshaped the marketplace, and it is not done. Many companies could not handle the shift. Large retailers like Borders and Circuit City have closed their doors forever. Others like Barnes & Noble and Best Buy, which we thought would be strengthened by less competition, are still struggling with problems created by this shift.

At the same time, internet companies like Amazon.com have exploded with growth during the last 10 years. And as we see many of yesterday's retail leaders like Sears fade, we also see them going online to try to claim victory there.

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The retail space is changing. Twenty years ago we used to shop and buy in person at retail stores. Ten years ago, the internet started a change wave. We could buy online but were not ready yet. So we shopped online, but we still bought in person at stores. Now we have reversed this trend completely. Today we shop in retail stores to see and touch, but we buy online because prices are lower.

This trend has reshaped the marketplace, and it is not done. Many companies could not handle the shift. Large retailers like Borders and Circuit City have closed their doors forever. Others like Barnes & Noble and Best Buy, which we thought would be strengthened by less competition, are still struggling with problems created by this shift.

At the same time, internet companies like Amazon.com have exploded with growth during the last 10 years. And as we see many of yesterday's retail leaders like Sears fade, we also see them going online to try to claim victory there.

Read Full Article