The rise of mobile devices has ensured retail will never be the same. Companies must deliver a new customer experience or risk falling into the retail chasm.
“Apocalypse.” “Meltdown.” “Disaster.”
These are the words used by analysts, journalists and industry professionals to describe the retail industry in 2017. In the first three months of 2017, five department stores—Macy’s, Kohl’s, Dillard’s, J.C. Penney and Nordstrom—collectively lost $4.6 billion in market value, . Nordstrom was downgraded by J.P. Morgan after executives at the retailer said bricks-and-mortar sales .
In addition, industry stalwarts Macy’s and Sears have closed hundreds of retail shops. . Meanwhile, e-commerce—namely Amazon—has boomed, making life easy for the casual shopper. Anyone who questions Amazon’s dominance can look at this startling number: , Internet Retailer reports.
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Hal Conick is a freelance writer for the ’s magazines and e-newsletters. He can be reached at halconick@gmail.com or on Twitter at @HalConick.