“Prabal has more insight and energy than most people on this Planet. Not only that, he is laser focused when he engages with you and or a Project. One of the best humans I have had the pleasure working with and knowing.”
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HAPPY HALLOWEEN! 🎃 We challenged our team members to go out and stretch their creative bones by building some fun Halloween-themed displays this…
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#casestudy "Revitalizing VCL Group: A Corporate Website Redesign Reflecting 30 Years of Excellence" With a background in architecture and a career…
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I had the pleasure of visiting the #Barclays Glasgow campus last week. The time spent together for a leadership offsite was a great way to recap on…
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The Future Face of Retail - Strategy & Visualization
Retail Industry has regularly seen game-changing moments such as emergence of stores (1860s), shopping malls (1910s), and big-box discount stores (1960s), that have ushered a new era of retailing and fundamentally changed the way consumers interact with product or brands. But no moment promises a bigger shift than what we are experiencing right now: the disruption based on digital technology (2010+). Why? Well, because the power has shifted to consumers with greater access to information and…
Retail Industry has regularly seen game-changing moments such as emergence of stores (1860s), shopping malls (1910s), and big-box discount stores (1960s), that have ushered a new era of retailing and fundamentally changed the way consumers interact with product or brands. But no moment promises a bigger shift than what we are experiencing right now: the disruption based on digital technology (2010+). Why? Well, because the power has shifted to consumers with greater access to information and availability of multiple (and more convenient) non-physical channels.
The effect has been amplified by the success of online retailers such as Amazon and their onslaught on brick & mortal retailers. Digital retailing threatens existing store economics, their measurement systems and modus-operandi. The traditional retailers are struggling to reinvent themselves as their response in the form of brick-click strategy is clearly not working.
Is the end of physical stores near? No, in fact there are shining examples of some retailers who are not only surviving the attack but re-defining the future of stores by embracing new technologies and re-imagining the traditional role of the stores. Apple Stores just averaged $6,100 per square foot of annual-store sales whereas traditional retailers are in the range of $300 per square foot. How is Apple making the retail stores work? How will retail stores in the future look like? Will we have physical stores in the future world of retailing?
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