The narrative that retail is dying is quite popular among many e-commerce players. But is the industry actually collapsing? While we hear horror stories about retail bankruptcies in the media and the horrendous aftermath of the pandemic for many businesses, in the past year, retail sales have gone up again. Experts project that by 2025, retail profit will reach at least $30 trillion globally.
Despite the slight increase in retail’s success, it’s safe to say that retail is on the verge of disruption. The high customer demands and the need for convenient, digital services force many businesses to adapt, which means switching to the electronic world.…Continue reading