Almost all big companies in the retail ecosystem know something needs to change - but very few actually pull off change. First step is to realize that you need very different competencies for this new world of retail. Of course, distribution, making a killer product and awesome marketing are still important, but distribution needs to be more agile, production needs to be more attuned and particularly marketing needs a completely different set of paradigms and skills. This means learning to think in terms of customer journeys and experience instead of funnels and (only) conversion rates.
We live in an exciting time for the world of shopping. Because in the next 10 years, retail will change more than it did in the past 100. Traditional retail players will need to start thinking like startups, listen to their customers and take risks. As for new entrants, there has rarely been a better moment to enter the business - as long as you’re building something for the new rules of retail, not the old ones. Read more to take a deep-dive in the drivers behind fashion retail and the role of curators.