Retailing has evolved from local "mom and pop" stores to global corporations and big-box retailers, shaping the global economy and accounting for 70% of the U.S. GDP. Changes in consumer shopping habits, locations, and timing are driving the most profound transformation in retail history. Retailers must adapt to these shifts, as those who fail to evolve risk liquidation. By 2020, successful retailers will need to redefine strategies and points of differentiation to meet the expectations of modern consumers, ensuring their relevance and survival in a rapidly changing industry landscape.

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