It is a good time to be in retail. Continuous developments in technology are leveling the business playing field, the new political climate promises imminent policy changes, and overall consumer and retailer optimism is rising.
While online giants like Amazon, Walmart and eBay have used such cutting-edge technology for years, now ecommerce entrepreneurs can take advantage of it as well.
With 2017 in full swing, we already have a feel for what new consumer trends are emerging, which ones are enduring from last year, and what has fizzled out.
Though only in its second year of operation, Shoptalk is quickly becoming an industry hotspot for retail executives, designers, consultants, startups, analysts and media to gather and discuss innovations, technology, and consumer trends.
E-commerce is growing fast, accounting for nearly $123.6 billion in revenue for the fourth quarter of 2016.
Let’s face it – the retail industry is not known for its early adopter behavior in technology. The dizzying pace of change in retail today can leave retailers feeling as if the sands are shifting so rapidly that they must sprint just to keep up, much less take a proactive stance.
Blockchain is a digital ledger. It’s a distributed database that allows trustworthy and permanent record keeping. Each record, or block, is timestamped and links back to a previous block.
Consumers today are rarely without their smartphones throughout the day, even in-store. With an increasing number of sales coming from mobile, the need for an omnichannel strategy that reaches consumers and builds relationships is becoming a necessity for retailers of all sizes.
Shoplifting, employee theft, suppliers and contractor thefts — all these are among the major threats retail stores have to battle each day.
How can a start-up compete against established industry titans like eBay and Walmart? Like the fabled tale of David and Goliath, entrepreneurs challenge the status quo daily in their pursuit of innovation.