3 WAYS THE BOUNDARIES OF RETAIL ARE EXPANDING

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How should retailers view the industry’s future at a time of rapid change? Presenting at NRF 2018: Retail’s Big Show, Kate Ancketill, CEO of retail trends consultancy GDR Creative Intelligence, described the need for “platform thinking,” where retailers offer radically diverse sets of experiences and products across an unprecedented number of channels. Trends such as market fragmentation, changing consumer behavior, overstoring and the rise of experiences versus products are fundamentally changing the retail landscape. In Ancketill’s view, retailers must adapt by being more than retailers. “The retailers best positioned in the future will be those who adopt a more expansive definition of retail itself … open[ing] our minds to what retail can be,” she said.

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