What you’ll learn to do: Analyze the evolution of the retail industry
Since its birth, modern retail has significantly changed over time. It is hard to imagine many of the changes that occurred in the 1800s as well as the 1900s as we weren’t alive at that time! However, some of you might be familiar with some of the changes in the 1970s and the 1980s. Just think about how retail has evolved in the last decade.
There has been a dramatic increase in the amount of consumers who shop on computers and mobile devices. Forrester reports that by 2022 e-commerce sales will represent approximately 17% of total retail sales, up from 13% in 2017. As a result, retailers are improving their online presences and integrating traditional brick and mortar and e-commerce experiences for the consumer.
Discussing the origins of retail can help you understand how major trends change the ways retailers operate.
Contributors and Attributions
- Introduction to the Evolution of Retail. Provided by: Lumen Learning. License: CC BY: Attribution