Death of the Retail Industry: Will it, Can it Rise Again?
The millennial generation is the largest in U.S. history. They’ve grown up with mobile technology, which has shaped their behavior and expectations. Their significant spending power will soon surpass that of previous generations. Simply put, the impact of millennials is huge.
Traditional brick-and-mortar retailers have been blindsided. Failing to recognize changes in purchasing behavior, it’s now time to sink or swim. Retailers must prioritize smartphones, personalization, customer service and the customer experience. Prioritize — because we’re not prepared to wait.