Customers' behaviour and purchase methods have changed significantly due to the use of the latest technology. More and more people prefer personalized shopping and are willing to pay more for a better customer experience. Consumers turn to social platforms on their mobile devices to influence their buying decisions and they tend to prefer an integrated, cross-channel experience, rather than a traditional, single channel one.
To stay successful retail business owners and entrepreneurs must shift focus from products to experiences blending physical and digital to offer personalized, omnichannel shopping experiences. They have to adopt a fresh digital perspective and replace their traditional operating models and legacy systems with modern hybrid technology and implement agile and cost-effective ways to deliver.