In 2007 PricewaterhouseCoopers did a study about the developments in the retail industry with the name: “Retailing 2015: New Frontiers”. That study was updated in 2012 with new insights named ”Retailing 2020: Winning in a polarized world”.
As a result both studies confirm that the retail industry is becoming more complex and changing faster than ever before. The furniture industry faces the same challenges. A look in the retailer magazine of the North American Home Furnishing Association shows that new technology and changing customers are forcing retailers to adapt to the changing retail environment. On the other hand, new technology and a bigger variety of customers also opens opportunities in the retail market.
In order to take advantage of the upcoming changes Jazzy Jobber follows this development very closely. The following post identifies three key developments in the retail marketplace:
- Changing customers and business models
- New technology
- Service and personalization