Merchants & Retailers

Facts About Merchants / Retailers 

Since 2017, retailing in the United States has continued to evolve. Despite boasting nearly 4 million retail establishments in the United States, supporting 42 million jobs and contributing $2.6 trillion each year to the nation’s gross domestic product (according to the National Retail Federation), retailers have continued to face major challenges as the industry adapts to a new economy and changing consumer preferences and expectations. Successful retailers have a keen eye trained on a variety of trends, including technologies, and other issues affecting the industry and their businesses."

Technology and Innovation in Front-end Retail is Changing the Way We Shop

Despite the rapid growth of online retail, physical retail continues to thrive. Brick-and-mortar stores still account for over 90% of sales in the c. USD 28 in the global retail market. However, market forces are pushing retailers to innovate and reinvent themselves to stay relevant in this increasingly competitive space. At the heart of this transformation, is the consumer. Retailers are trying to gain insights into how consumers search, shop, and pay in order to devise new retail models or tweak existing ones.

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• Being able to connect with customers directly
• Building a "Brand" that is relevant in today's society
• Taking a hospitality view when it comes to customer service,
• Bring relevant as far as technology is concerned,
• Developing Internet presence and an e-commerce capability.