We all know that the way consumers shop has radically changed over the past few decades. Malls are empty and old guard flagships like Toys “R” Us and Boston Store closed their doors during the “Retail Apocalypse” of 2018.
Retail has long been trying to settle into a new normal — with a broad range of direct-to-consumer, subscription services, digital and reseller marketplaces, and brick-and-mortar shops — but the industry as a whole has been in decline since 2017. And now the unexpected has occurred: the COVID-19 outbreak has stores shuttering across the country.
In this eBook, we’ll discuss the current state of the retail industry and focus on three main points:
- The shifts recently seen in retail, and how companies can continue to reach customers during the pandemic;
- Why many companies believe transitioning to a DTC model will allow them to stay relevant in this challenging market; and
- The future of shopping and how innovations like VR and AR are here to stay.