A short history of the past, present and future of retail

This video is a short history of the past, present and future of retail. Retailing has a story. It has a history of barter, trade, selling in open markets and it evolved to shops and department stores. It also has a future that is moving very fast in a number of directions. Every year for the last twenty, retailing has been going through major changes and challenges. Along comes and pandemic and it changes everything. In the book The Great Transition The Emergence of Unconventional Leadership. I refer to this door leading from the old economy to the new one. Many thought it would take decades. But I always suspected that humanities appetite to improve their economic and social wellbeing would hasten change. In 2012 I wrote The Last Retailer Standing and it pointed out that many things from management, culture, leadership, training and business development were all wrong.

 

A short history of the past, present and future of retail

Where will it all end up? And what will the future look like? It may not be so hard to figure out anymore. Why? Because Covid-19 has accelerated everything. The story of retailing is not over. But it is materializing many new consumer behaviours which are surfacing new preferences that an old guard clearly has a difficult time letting go. Most of the experts in retail are very divided. No one wants to say that retailing has changed forever and it hasn’t. But no one wants to acknowledge the changes consumers have adopted are threatening to the status quo. However the status quo will not endure as it is today not during or post vaccine. Consumers are not going to get out of their homes that quickly. We have a road to travel and it needs patience and it will take time.

Watch this short video.