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Success in the Digital Age Requires Extraordinary Retail Leaders


The carnage intensified last year. “There were 15 shop closures a day across the UK in the first half of 2016 and the number of new openings has fallen to the lowest level for five years” writes Graham Ruddick, senior business reporter at The Guardian. And the carnage is continuing this year. “Brick and mortar stores are suffering due to competition from online sales and the closures just keep coming” according to Daniel Kline in MotleyFool. What is happening? Where are the retail leaders?

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Demographic Segmentation – Dividing the Market by Generations


Customers of different ages (or generations) behave differently when they go shopping in a store or online. This aspect of human behavior and demographic segmentation are sometimes forgotten by retailers. The market for retailers is in turmoil because of changes in consumer behavior, intense competition and digital disruptions. Subsequently most retailers have to reduce the price of their products to maintain their sale volumes.

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the new economy

What You Should Know About the New Economy

Well, if you haven’t realized it by now, and yes, we are living and doing business in the New Economy. The basic idea behind this economy is that computer and Internet technology are fundamentally changing the way we are doing business.

Let us contrast the “old” with the “new”. Old economy differs from new economy in that it relies on traditional methods of doing business. On the other hand utilizes the new economy leveraging of new cutting-edge technology. This traditional economic system dates back to the Industrial Revolution and revolves around producing goods as opposed to the exchange of information (James Chen, Investopedia)

What is this New Economy?

The term “new economy” refers to the shift in the structure and nature of the global economy that has occurred as a result of the widespread adoption of digital technologies and the internet. Indeed, the new economy is characterized by the rise of digital platforms, the sharing economy, and the growth of e-commerce. Also, with the increasing importance of knowledge and information-based industries.

The new economy is based on the idea that the traditional industrial economy, which relied heavily on physical infrastructure, is being replaced by a more dynamic, innovative, and globally interconnected system. This has resulted in significant changes in the way businesses operate, as well as in the nature of work and employment.

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