What to Watch in Retail in 2020
New mores, politics and technology are accelerating the pace of change in the world of retailing. The most dramatic, ongoing development is the convergence of physical and digital retailing, forcing stores to cater to customers “whenever, wherever and however” they want to shop, and to provide faster deliveries, easier online navigation, knowledgeable and accessible sales associates, and BOPIS, the buy online, pick up in store service. “This trend is driving traditional brick-and-mortar retailers such as Walmart, Target and Best Buy to enhance their online functionality and offerings, while also pushing e-commerce retailers from Bonobos to Amazon to open brick-and-mortar stores,” said Charudatta Ganpule, head of the retail research desk at Tata Consultancy, a global IT consulting firm. Oliver Chen, Cowen & Co.’s managing director and senior equity research analyst covering retail and luxury goods, underscores the “bifurcation” of the retail industry, whereby the strong get stronger and the weak get weaker. He cites Target as one of the big winners going forward. After a run of major bankruptcies and liquidations last year — Payless, Barneys New York, Dressbarn, Destination Maternity, Sugarfina, Avenue, Charming Charlie, Gymboree, FTD, Z Gallerie, Diesel, Charlotte Russe and Shopko, among them — the so-called retail “apocalypse” appears over. WhileFollow WWD on Twitter or become a fan on Facebook.
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