The following changes will materially affect your retail future:
1. Manufacturers in retail
2. Wearable technology
3. Mobile phone usage
4. Ageing workforce, ageing market
5. Ethnic diversification
6. Multi-channel delivery and engagement
7. Social media communications strategies
8. Diminishing career loyalty
9. Price convergence online/offline
10. Drone technology in the supply chain
11. 3D Printing
12. Peer2Peer Transactions
Of course there are more – but you get the idea: change is relentless, overwhelming and unpredictable. You have two options to deal with this future:
A. You can develop strategies for each one, assign resources and monitor progress in order to respond. You anticipate, you react. You constantly fight. You win some and you lose some – but you can never stop worrying.
B. Or can you build your organisational culture to be an adaptive system. A system that is self-governing that thrives on complexity and is anti-fragile.
Which one is the hardest? Which is the most effective?
Most importantly, what do you choose?