The Age of Living Retail: Staying Ahead when Change is the Only Constant
Summary
The forces disrupting modern retail have reshaped consumer behavior, creating a generation of customers pre-conditioned to expect change. The accumulated behavioral shift is significant: shopping, while once thought of a social activity that brought friends together, is increasingly conducted on computers and mobile devices while malls sit empty. Retailers must be able to leverage AI and high-performance computation power to automate enormous amounts of repetitive tasks, including demand forecasting, store replenishment, and planogram optimization — but they also need agile and responsive technology that can readily adapt to changing business conditions, improving their resiliency in the market. RELEX users can continuously hone their planning and optimization so their business can adapt to changes in their own operations, demand, trends, or competition. Stay tuned for the next three installments, in which we’ll explore the major change agents in the age of Living Retail: a power shift toward the consumer, the effects of increasing urbanization, and the ever-growing importance of sustainability.
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