Ever since the retail industry has gotten a digital facelift, only a handful of brands have experienced unbeatable growth. Today, Amazon is a top-of-mind digital company that consumers are browsing all day long – and has quickly become THE retail giant.
Consumer behavior in the retail industry has changed entirely within the past decade. Most customers choose to make purchases from the within the safe walls of their homes via online retailers such as Amazon. Gone are the days when customers browsed stores relentlessly hoping to find what they’re looking for. While malls still exist (and thrive), every customer is aware of the option to purchase something online – usually at a fraction of the cost.
Online retailers like Amazon have caused the retail industry to shapeshift, now providing instant gratification and convenience to customers. Over the past few years, this has forced many brands to hop onto the e-commerce trend and in some cases, close their physical brick and mortar stores to survive. Here’s how.