Retailers must adapt to changing consumer behaviour or risk collapse

Big name high street retailers have hit the headlines recently with cases of store closures, job losses and declining profits. There are many reasons for this but a large part can be attributed to the growth in ecommerce.

Consumers are more confident than ever in spending online, but they are also becoming more discerning with both their expectations of the on and offline shopping environment and how they prioritise their time.

In essence, the digital environment combined with growth in the proportion of digitally savvy consumers is making the creation of value much more complex, particularly as more and more consumers look for specific products, unique to their own needs, fragmenting the marketplace into more segments than previously thought possible.

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