The modern retail organisation
It’s been regular headline news in recent times: nationwide retailers going out of business. The official reasons for these bankruptcies differ enormously: from investors who pulled the plug, to the upcoming competition of online players, and even a party who “thought they should just sit it out and weather the storm”.
However different the official arguments businesses have for going bankrupt, the fact remains that each and every one of these retailers failed in one specific area: being relevant in the retail landscape of 2016.
But has the change really been that big? Yes and no. Retail is still retail: there is one party who has a demand for goods and a party who supplies goods. Or, in other words, a market. Nothing new here. Only now the rules have changed entirely. The most important reason: the consumer, the demanding party, now possesses much more knowledge and information about products than in the old days. And has 24/7 access to this information.