Value Creation in Future of Retail
Executive Summary: The networked world has transformed the ecosystem we live in. It wouldn't be an exaggeration to say that we live in the most revolutionary times after the Industrial revolution. The highly informed consumer is more empowered than ever and that is posing both challenges and opportunities to firms engaged in business. This article explores some of the ways in which key players in Retail industry could respond to the changes and how the future of retail might look like. Disruption in Retail e-Commerce retailers, with their focus on reducing fixed costs, have had a major impact on big box retailers for a while now. The ubiquitous smart phones in the hands of the consumer have lead to show rooming, where the consumers check out a product physically in store, look up the product on their smart phones for the lowest price offered elsewhere and leave the store to order it online. Advances in back end connectivity have also resulted in integrated supply chain mana...