Analyst Insight: The retail industry is undergoing massive transformations as a result of three megatrends: technology, globalization and supply chain. New technologies have changed the definition of the word "shopping." Globalization has resulted in products designed for international consumption and manufactured in the country with lowest total delivered cost. Supply chain's role is to support the desires of global customers with an efficient flow of goods, information and cash. The omnichannel supply chain is critical to these transformations, and it should evolve through a Strategy-Structure-Implementation process. – Jim Tompkins, CEO, Tompkins International

Walmart management is trying to turn a very big ship. As supercenters underperform, the focus has shifted to small stores and omnichannel initiatives, moves confirmed by Walmart CEO Doug McMillon during a meeting with analysts.

Macy's is putting its money where its mouth is, promising to invest up to $1bn in technology and infrastructure to support online and omnichannel efforts.

You're trying to do everything right to lure in online shoppers: You offer free shipping. Customers can return merchandise to a retail location. You even offer free returns through the mail. But this freedom for the customer can mean a lot of headaches and cost for you.

Analyst Insight: The titans of business, Amazon and Walmart, are doing an awesome job of growing their companies and transforming the way the marketplace functions. They're innovating supply chain operations and how they are responding to the needs of the customer. They're creating tremendous disruptions that are forcing everyone to play catch up. Lastly, they are on the offensive. They are creating benefits for their customers at such a rate that all other companies are playing at a disadvantage. - Jim Tompkins, CEO, Tompkins International