The ‘me-tail’ Revolution.
February 23, 2010
In the words of one veteran shopper, “It’s all about me.”
Retailing, the direct sale of goods and services to consumers, is evolving into “me-tailing”—the quest for swift and seamless shopping on demand, coupled with virtually endless new experiences and enabled by technology that gives shoppers an unprecedented choice of products and services that meet a multitude of demands.
But the same technology also keeps those demands in constant flux. The implications for the retail industry of this shift in power from the seller to the buyer are enormous. The mantras of today’s traditional retailers—customer-centricity and optimized supply chains—will not be enough to keep them relevant to increasingly fickle and footloose shoppers in search of instant gratification.
Indeed, retailers need to radically reinvent themselves.
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