When people talk about the death of retail, that perceived gloom and doom is exemplified by poorly performing traditional channels like malls and department stores. But as major department stores report Q1 earnings, it doesn't appear to be that dire across the board.
Thanks to the hype generated by Amazon Go, retailers across sectors—from supermarkets like Kroger to department stores like Macy’s—have made stabs at cashierless checkout. But Walmart's version, which debuted in August 2017, has already been shelved.
The retailer has emerged triumphant in acquiring a majority stake in India’s biggest ecommerce site.
Despite being able to buy mundane products like paper towels or razor blades with a click of mouse—or by asking Alexa—consumers still prefer to shop at physical stores for those purchases.
A UBS report hypothesizes that if ecommerce penetration grows to 25% by 2025, 30,000 to 80,000 physical stores might have to close.
As the Supreme Court considers whether or not states should have the power to tax all online sales, a recent YouGov poll found that over a third of US internet users were opposed to an online sales tax. But nearly as many said it should be required.
Many have speculated which retailers will capture Toys ‘R’ Us’ sales, though the top contenders aren’t exactly a mystery.
An embrace of consumer-centricity and experience, rather than forcing a purchasing journey, has given the retail industry a sense of confidence not seen in a year or more.
Traditional retailers continue to feel the pinch. But Amazon and ecommerce aren't the only causes of their problems—socioeconomic factors are also coming into play.
According to findings by coupon website RetailMeNot, a majority of US-based retail marketers plan to shift attention from baby boomers in favor of younger consumers.