Tompkins International has been leading the way with our point of view that retail is at a crossroads, for over the past five years. In 2012, we first discussed retail at a crossroads in the white paper, Retail at a Crossroads Future Hangs in the Balance as Retail Industry Passes Tipping Points. This paper continues to make waves.
Our material has received attention from retailers and media alike, but the extent of the changes required by companies and brands are not truly evident to most company leaders. In fact, to this day many retailers and brands continue to argue that a crossroads does not exist and that no action is required to save their companies from financial ruin.
The concept of retail at a crossroads is simple; change what you are doing to a counter-offensive posture or risk the consequences of failure.
To further understand this concept please read my latest article: Commerce Beyond the Crossroads.
This is the beginning of the era of new retail, retail innovation, a new shopping experience, game-changing Demand-Driven Replenishment, and an Each Supply Chain. This new era will place the customer in charge of the unichannel to enjoy the exploration and experience of shopping while maximizing convenience, value, and selection. This new era of retail will drive retailers’ success and profitability.