Retailers can drive growth by expanding beyond traditional product sales and entering service-based ecosystems. These ecosystems address diverse consumer needs, such as finance, health, and travel, and can increase profitability by up to 30%. By leveraging customer trust and data, retailers can create personalized service offerings, build loyalty, and generate additional revenue streams. Retail media networks and community engagement are key growth areas, while understanding customer needs, investing in digital transformation, and enhancing supply chains are essential for success in this new retail model.

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