The future of retail survival will require more precision than ever before
By Chris H. Petersen
Most consumers simply don't think about retail models and strategies. In today's omnichannel world, consumer shopping is now any time and everywhere. But for retailers, the landscape has never been more challenging and competitive! Survival in the retail world is boiling down to increasing chasm two fundamental models: long tail and curation. Consumers really like unlimited choices, but also highly value specialty, service and personalization. The real question of retail survival is not who wins the sale of the product today, but who earns the right and loyalty of the customer relationship long term.
Why this is important: The future of retail survival with require increasing precision to differentiate customer value within the core fundamentals of retailing in an omnichannel consumer world: long tail, curation, or a unique blend.