Innovation Labs

Help Retailers Keep Pace With Industry Shifts

By Alicia Fiorletta, Content Strategist
October 27, 2015

The pace of change within the retail industry is accelerating and shows no signs of slowing down.

Some businesses are struggling to keep pace with new consumer trends and other disruptive forces. In fact, 45% of retailers say consumers' purchasing behaviors are extremely unpredictable, albeit important to understand, according to Retail Systems Research (RSR).

"How, when and where people shop has changed, and retailers need to shift how they think about the overall shopping experience to meet consumer expectations and demands," said Kevin McKenzie, Global Chief Digital Officer at Westfield Labs, the innovation lab for mall operator Westfield. "As we continue to see the physical and digital worlds blend, the focus of retail is going to become more about creating fully immersive shopping experiences that start at the point of consumer inspiration and need. We need to embrace the new shopper journey. Understanding the best ways to participate in that journey should be a key focus for retailers across the board." 

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