Trace One and EDGE by ASCENTIAL have identified four generations of retail, which identifies the typical characteristics of retail development. Although markets transition at different speeds, the future of retail will increasingly be data and algorithm driven.
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COVID-19 has dramatically transformed the global retail industry in 2020. Retail’s globally-enmeshed supply chain means this pandemic has created a ripple effect among consumers, retailers and manufacturers across international markets.
2020 has already brought profound change to retail. The global economic crash, coronavirus pandemic, home bound consumers’ seismic shift to online shopping, as well as Brexit, tariffs and trade wars, have all added immeasurable complexity.
