Retail is seeing the most intense disruption in history with the rapid rise of eCommerce and the adoption of big data technologies. There have been winners and losers during this period, as some retailers have defied gravity to float to the top while others have wearily sunk to irrelevance.
We are living in the breakout period of big data and the proof is all around us. Every day the digital devices we interact with become smarter and more personalized, improving how they anticipate our needs and desires. The technology leap of utilizing unimaginable amounts of data has modified consumer behavior; customers expect interactions with brands to be as natural and intelligent as the interactions with their phones and apps.
Time kills all deals. Or more correctly, time delays all deals. This is why in retail the impulse buy section is placed less than five feet away from the checkout counter. This is why when there are more than three people in line at a store, clerks are instructed to call for additional help. And this is why ecommerce sites like Amazon have had a laser focus on reducing the number of clicks between arriving at the homepage and completing a purchase.