eCommerce obsoleting traditional retail

eCommerce obsoleting traditional retail – Infrastructure needs to change

eCommerce obsoleting traditional retail
One of the best ways to communicate and understand a company and its operating culture is through its policies. Designing and writing policy and communicating it effectively is an essential skill for professionals to have. By having policy carefully developed and communicated, employees will clearly know what the organization expects from them, the degree of control and independence they will have, and what the benefits and consequences are in regard to adhering to policy.

eCommerce obsoleting traditional retail with brick and mortar businesses impacted the most.

eCommerce is changing the way both business and consumers shop. Retailing is changing at lightning speed coupled with an ever-tightening decision horizon, changing consumer expectations and an unrelenting flood of data. eCommearace is disrupting classic retail models.

Traditional infrastructure models for merchandising, supply chain, and store operations are now triggered autonomously by novel and unexpected sources that are facilitated by artificial intelligence, machine learning, and voice and IoT sensors connected to a digital core.

Consumer wearables, smart appliances and homes, driverless vehicles, drones, virtual reality headsets, and online games are becoming points of brand interactions – from demand to execution. What has served retailing well in the past now is a serious liability with it being unable to drive business success.

  • By 2020, 83% of mobile users globally will use their device to access the Internet
  • By 2020, there will be 75 billion connected devices
  • By 2025, the Internet of Things (IoT) will have potential economic impact of $4 trillion – $11 trillion a year, with impact in retail up to $1.2 trillion
  • By 2025, augmented reality (AR) and virtual reality (VR) will represent up to $182 billion market opportunity

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Author: Victor Janulaitis

M. Victor Janulaitis is the CEO of Janco Associates. He has taught at the USC Graduate School of Business, been a guest lecturer at the UCLA's Anderson School of Business, a Graduate School at Harvard University, and several other universities in various programs.

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