Gerry Szatvanyi01.23.23
From the panic of the pandemic to the roller coaster of recovery, disruptions have hit retailers in significant ways.
New consumer buying patterns that began before COVID-19, such as a shift toward buying online, have intensified. Customer expectations have been impacted, too, as many shoppers look for personalized treatment and instant communication. With supply chains in flux, in-store shelves are frequently either bare or overstocked.
It’s undeniable that the events of recent years, coupled with new technologies, have triggered adjustments on nearly every level. A reflection on the past, along with insight on current happenings, provides insight into the future. What exactly will 2023 bring for retailers? Will there be further bankruptcies? Which companies will be ready to face the realities of today and tomorrow?
Here is a look at five trends on the horizon:
New consumer buying patterns that began before COVID-19, such as a shift toward buying online, have intensified. Customer expectations have been impacted, too, as many shoppers look for personalized treatment and instant communication. With supply chains in flux, in-store shelves are frequently either bare or overstocked.
It’s undeniable that the events of recent years, coupled with new technologies, have triggered adjustments on nearly every level. A reflection on the past, along with insight on current happenings, provides insight into the future. What exactly will 2023 bring for retailers? Will there be further bankruptcies? Which companies will be ready to face the realities of today and tomorrow?
Here is a look at five trends on the horizon:
Trend 1: Retailers that don’t transform digitally will struggle
The breadth of change that is reshapingContinue reading this story and get 24/7 access to Coatings World for FREE
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