Predicting the Next 5 Years in Retail

1. Create direct relationships. Retailers are at war with brands over direct relationships with consumers. Brand manufacturers are increasingly looking to sell direct to consumers via e-commerce sites. They no longer need to go through retailers, Joel said. Brands are seeking "cradle to grave" relationships with consumers. To combat this trend, retailers need to stop being in an arms race for "Likes" and follows. Instead, retailers should be the ones liking their customers and prospects, Joel said.