Perspectives
It’s also a contributor to the development of a C2M (customer to manufacturing) business model, where companies use big data and AI insight to personalize the products for the individual consumer.In C2M, AI will have a more intimate view of the user and what they need more than the users themselves know. that has seen over 8,000 store closures is proof that businesses quickly need to adapt to a change in consumer behavior to survive.As a retail professional, knowing what’s in store for the industry gives you a leg up on your competition. It will also give you the insight to innovate in unforeseen gaps in the market that any industry shake-ups tend to do.The line between digitally native retailers and brick-and-mortar stalwarts are becoming blurred. in 2025, according to market research firm Tractica. Past the holidays and changes in consumer behavior, however, may either be a boon or an obstacle, depending on how quickly the retailer can adapt. In this episode, we look ahead to 2020 with Susan Reda, editor of NRF’s STORES Magazine, who digs into the insights reported in STORES’ 2020 retail trends forecast.Reda predicts resale — or re-commerce — businesses are going to be big in 2020. While many consumers initially resisted the idea of luxury resale clothes and accessories, companies like Rent the Runway helped change this mindset and pave the way for a new kind of retail business. “We all have those things that we purchased and, too often, it's hanging in there with a tag on it because you thought you were going to lose weight, or you thought it was going to look better, and it just didn't work.” 6 | AUSTRALIAN RETAIL OUTLOOK 2020 www.insideretail.com.au INDUSTRY IN FOCUS Surveying the scene in 2020 It’s certainly been a tough year for retailers, and it doesn’t look like trading conditions are going to get any better in the immediate future. It will likely also need consent from the user.The discussion of AI naturally dovetails with voice search and personal assistants. This message will not be visible when page is activated.Retail consulting services for transforming strategy, operations, finance, IT, and talent in consumer and industrial product retail and distribution.We help organizations navigate business risks and opportunities—from strategic, reputation, and financial risks to operational, cyber, and regulatory risks.Consumer Packaged Goods (CPG) trends: Navigating Industry 4.0Convergence in retail moving to channel-agnostic approachesSocial login not available on Microsoft Edge browser at this time.Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. Over three-quarters of consumers say they will spend more money when a retailer provides them with an exceptional experience. Subscribe. I cover retail real estate and how the industry … As CEO, I am focused on ensuring the retail real estate industry is recognized for the central role it plays in economic development and opportunity. Contributor . Instagram is one of the first to do this, though it’s still experimental.In the coming years, social networks will now not only be places to discuss and keep up to date with your friends but for retailers to keep in touch with their user base. For retailers, understanding how consumer expectations are evolving has never been more important, especially with the convergence of supply chain, digital technologies, and other innovations.But when it comes to how the next 12 months will play out, uncertainty is the name of the game.
Rod is vice chairman, Deloitte LLP, and leads the US Retail & Distribution practice. Certain services may not be available to attest clients under the rules and regulations of public accounting. In fact, centers that are central to where consumers live and work allow landlords to curate their tenant mix to better serve the community. Consumers continue to view the economy in positive light and that will bode well for retailers and retail real estate.I am the President and CEO of ICSC, which serves the retail real estate industry. The retail industry – be it offline or online, has grown considerably over the years, and in 2019 stood as one of the biggest grossing and rapidly growing industries in the entire world.