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Trends Driving the Future of the Retail Industry for the Next Decade

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  • TANASE, George Cosmin

Abstract

The next decade is expected to be the age of the consumer, with shoppers having more choices and control than ever before. They will be presented with a growing array of products and services, often personalized to their specific needs and wants. Consumers will continue to demand price and quality transparency along with a wide range of convenient fulfilment options. Overall, the retail experience is poised to become more inspirational, exciting, simple and convenient, depending on the consumer s ever-changing needs. The evolution in consumer demand, combined with transformative technological innovations, will continue to drive fundamental changes. The boundaries of retailer and manufacturer will continue to blur, as companies evolve to meet their customers needs. These forces will cause the retail and consumer packaged goods (CPG) landscape to change more in the next 10 years than it has in the past four decades.

Suggested Citation

  • TANASE, George Cosmin, 2017. "Trends Driving the Future of the Retail Industry for the Next Decade," Romanian Distribution Committee Magazine, Romanian Distribution Committee, vol. 8(4), pages 24-28, December.
    • Handle: RePEc:rdc:journl:v:8:y:2017:i:4:p:24-28
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    More about this item

    Keywords

    Consumer; Connections; Technology; Digital Space; Mentality; Experience; Business Models; Retail; Innovation; Organizational Capabilities; Opportunities; IoT; Autonomous Vehicles; AI; AR;
    All these keywords.

    JEL classification:

    • L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce
    • L86 - Industrial Organization - - Industry Studies: Services - - - Information and Internet Services; Computer Software
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation

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