Retail Revolution

Apr 22nd, 2015
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A new consumer reality in terms of consumer behavior and consumer buying decision is quickly changing the aspect of retailing bringing about new perspective of consumer on retail sector. It is imperative for the industry to change as the consumers change. Therefore, the retail sector is undergoing rapid revolution in terms of contracting international economy, advancing the technological aspect in retailing, multiplying the amount of shopping channels, increasing the number of mobile base consumers who are well informed, and altering the consumers’ shopping ways and manner (Lichtenstein, 2009).

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RETAIL REVOLUTIONStudent's NameUniversity Affiliation. A new consumer reality in terms of consumer behavior and consumer buying decision is quickly changing the aspect of retailing bringing about new perspective of consumer on retail sector. It is imperative for the industry to change as the consumers change. Therefore, the retail sector is undergoing rapid revolution in terms of contracting international economy, advancing the technological aspect in retailing, multiplying the amount of shopping channels, increasing the number of mobile base consumers who are well informed, and altering the consumers' shopping ways and manner (Lichtenstein, 2009). The retail sector has recorded very high improvements in terms of innovation, incorporation and responsiveness which has resulted to a great change in Consumer Products manufacturing (Fairclough, 2008). Manufacturers have to make plans for their own change in product manufacturing, marketing and pricing as the retail sector increasing important in the contemporary society. E-commerce is becoming more significant in each passing day as consumers shift their attention and spending online, for example, in 2016 Europe recorded a growth of 78% in e-commerce sales to USD 230 billion while US, China, and Brazil recorded a growth of 62%, 66% and 21.9% respectively (Forrester, 2012) . Consumers strive to keep up with the rapid urbanization and increasing internet incursion by changing their shopping means and habits. U

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