The Past is Not Prologue
I feel your pain, your anxiety, your confusion. I’m just relieved it’s yours and not mine! You are in the middle of chaos, the “Wild West,” in search of the new frontier, and a future shrouded in fog. However, two things are clear. The past will be no prologue for the transformation your business must go through; and if it fails to transform, it will surely die.
The disruptive, game-changing dynamics of the Internet, all of the new retail and supply chain enabling technologies, globalization, and over-saturated markets continue to drive unlimited and instantaneous access for whatever product or service consumers desire; whenever, wherever, however and how often they so desire. The unprecedented convergence of these dynamics of commerce and a 24/7-consumer is arguably driving the greatest transformation in retailing’s history, which will require innovation and creativity; plus fundamental new strategies and systemic change in our business models to succeed into the future.
To paraphrase Charles Dickens’ opening line in his epic Tale of Two Cities, for this revolution, we are now in the most exciting of times and the most challenging of times. [Read more...]