The impact of digital transformation in retail businesesPRICES WILL INCREASE THEIR SENSITIVITY, since as time passes, consumers begin to look after their “pockets” and there is a tendency to save money by trying low-price brands and private labels. THE OPTIMAL ASSORTMENT OF PRODUCTS MUST BE ADJUSTED TO THE NEW NEEDS, trends and consumer behavior. The product offering should be expanded to get closer to the idea of a “one-stop shop”. And, consequently, the supply chain must be efficient to minimize stock breakdowns. PROMOTIONS : retailers must be up to date with the market offer to design a competitive response that takes into account the new needs and habits of the consumer. Today, the ”one stop shop” sales format is gaining share since consumers prioritize preserving their health...

Join for free to read