In New Retail, Speed and Convenience of Delivery are The Next Pillars of Differentiation

March 27, 2019 by Buck Devashish

As Chris Walton, CEO and founder of Red Archer Retail and Omni Talk, states in Forbes, retail is at a crossroads. Consumers are shopping more than ever, but how they are shopping is evolving quickly and dramatically.

According to Internet Retailer, total retail sales hit $3.628 trillion in the U.S. in 2018, up 3.9% year over year. Where is this sales growth coming from? In a word: e-commerce. E-commerce continues to grow its portion of overall sales and accounted for more than half of all retail sales growth in 2018. U.S. consumers spent $517.36 billion online, up 15.0% from the year prior. So where will the mix of retail and e-commerce sales end up? No one knows for sure. But it’s clear from the market, and from top retailers, that the e-commerce side of the teeter-totter is rising.

This delicate balance, between physical retail and e-commerce, is at the heart of what New Retail is all about. New Retail represents the best of an integrated shopping experience across physical and digital worlds. For consumers, it’s a new, wonderful future state of the commerce journey — from initial browsing and research to receiving and owning the product(s) purchased.

But for retailers, it’s scary as hell. We sat down with Chris Walton at NRF 2019 in January to discuss this very topic. The result of which is Chris’ brilliant summary of the key challenges and opportunities retailers face in this complimentary white paper titled “In New Retail, Speed and Convenience of Delivery are The Next Pillars of Differentiation”.

At Yantriks, we help retailers embrace New Retail and the headless e-commerce technology architecture to make it a reality, beginning with inventory, availability, and fulfillment capabilities. I hope you give the white paper a read and learn as much as I did about how to differentiate in the next evolution of commerce.