Retail Transformation Starts With Knowing Your Customer

In response to a changing marketplace, shifting consumer demands and the ongoing quest for improved operations, A&M’s Retail team has launched its “Retail & Consumer: Act Now” newsletter.

Fueled by growth in consumer spending, the retail industry is indeed thriving despite constant reports of store closings and mass layoffs. Legacy retailers, however, have neglected to modernize their operations and leverage customer data in a meaningful way. This is especially true of those in the brick and mortar category.

Tomorrow’s winners in the retail sector are those who embrace the complexities of today’s on-demand economy and adapt to ever-changing customer demands.

In this inaugural article, A&M Managing Director Mike Simoncic and Senior Directors Kristin Kohler Burrows and Lou Usarzewicz examine seven ways retailers can transform their business. The authors discuss how to accommodate for consumer behavior and adopt a demand-driven model.