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The Future of Retail: E-commerce, DTC, and Experiential Shopping

Book Title: Innovations in Management: Emerging Trends and Practices

Editor:  Dr. Dattatraya Pandurang Rane

ISBN: 978-81-987266-7-4

Chapter: 5

DOI: https://doi.org/10.59646/imC5/358

Author: Dr. Amar Prabhakar Narkhede, Associate Professor, ISMS Sankalp Business School, Vadgon, Pune, Maharashtra, India

Abstract

The retail sector is now experiencing a period of profound disruption due to developments in digital technology, changes in consumer behavior, and new business models. This chapter explores the future of retail from the viewpoints of experienced buying, direct-to-consumer (DTC) business models, and online purchasing. The impact of data analytics, augmented reality (AR), and artificial intelligence (AI) on the retail business and how it is changing the customer experience is explored in this chapter. Online shopping has allowed for unprecedented personalization and ease of use, even as direct-to-consumer (DTC) businesses disrupt traditional supply networks and boost consumer loyalty. Concurrently, stores are reimagining brick-and-mortar locations as immersive spaces where brands may flourish. The many strategies, tools, and methods for interacting with consumers that will underpin retail’s future are covered in the next chapter. Furthermore, it delves into the pros, cons, and opportunities offered by this dynamic landscape, offering guidance to lawmakers, marketers, and retailers as they prepare to deal with a digitally-driven marketplace that puts consumer needs first.

References

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