Planning for the real but very different retail world these revolutions are creating will create significant challenges and opportunities. Here are a few of the premises those future plans must be based upon:
- A high growth expansion strategy for retailers will have to include expansion outside of the United States.
- Retailers who go overseas will favor suppliers who have the ability to support them in their global expansion.
- The communication revolution will create an entirely new channel of distribution for all consumer goods and services.
- Retailing in cyberspace will require one-to-one marketing skills not found in most retail organizations today.
- Re-engineering is creating a new economic model for retailing.
- Re-engineering is unlocking the productivity potential of the first two revolutions.