Retailers must adapt or die as society evolves, Fujitsu
Retailers must quickly respond to shoppers’ new demands, according to a whitepaper from Fujitsu.
The traditional models of mass-production are being rejected by Millennials and Generation Z, it argues.
The whitepaper details five trends that will determine the long-term survival of retailers, which includes diversifying relationships between people and machines, regaining control of data by consumers and being more conscious of social issues.
“Society is evolving and this is invalidating many of the basic assumptions on which mass-market retailing was built. The future will belong to those retailers who understand and respond to consumer concerns about trust and social responsibility,” says Richard Clarke, Vice President, Executive Director, Global Retail at Fujitsu.
“However, those that don’t recognise the need to transform will find themselves increasingly sidelined, and unable to regain losses in market share or credibility.”