
Fighting the downfall of the department store
Under heavy competitive fire from online retailers, department stores must adapt to survive the battle and stand a chance of winning the retail war
The lives of consumers have changed irredeemably and it is time retailers followed suit. The Future of Retail special report, published in The Times, delves into what it takes for retailers to survive and thrive in the digital age. Social shopping is on the rise as Chinese instant messaging goliath WeChat presents a huge opportunity for retailers, while consumers are becoming increasingly mindful of the impact their purchasing habits have on the environment. Also featured is an infographic documenting smart shopping and automation in retail, as well as an article on the need for department stores to adapt or face possible extinction
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Under heavy competitive fire from online retailers, department stores must adapt to survive the battle and stand a chance of winning the retail war
Across fashion’s complex and global supply chains there is a depletion of resources, from the raw materials we use, to our manufacturing processes that are dependent on vast amounts of water and energy
Women shop more than men, but they haven’t yet smashed the glass ceiling when it comes to getting more top retail jobs
From retailers creating community-based hubs, focused on social currency and connectivity, to pure-play giants launching physical spaces for an immersive brand experience, retail stores are being reimagined
If 2017 taught us anything, it’s that retail is changing at an unprecedented rate, says Hugh Fletcher, global head of consultancy and innovation at Salmon
Shopping habits are going through radical change
Connected products, enabled by intelligent labelling technologies that give items their own digital identities, are allowing retailers to deliver frictionless commerce experiences, providing customers with the convenience and transparency they desire
From virtual and augmented reality to artificial intelligence (AI) and voice-enabled personal assistants, retailers have trialled and tweaked to enhance and personalise the shopping experience
Retail brands that fail to deliver a website that immerses visitors and integrates transactions in one unified experience are falling behind in the race for online growth
Carriers must place the consumer at the heart of the delivery experience to thrive in 2018, says Martijn de Lange, chief executive of Hermes UK