The brick-and-mortar retail industry is transforming in the digital age by focusing more on the individual customer's online experience. The data collected from these online interactions is then used to inform the stocking of physical stores. This shift in focus from product to customer and the use of online data for physical store operations represents a significant transformation in the industry.
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Subscription services have grown revenues 8X faster than the S&P500 and 5X faster than US retail sales. This new business model is why Adobe, Netflix,...
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In today's digital world the focus is on the individual customer not on the product, and those customers prefer outcomes over ownership. Brick-and-mortar retail is transforming, focusing on customers' online experience and using the data gleaned there to inform the stocking of physical stores. The news industry is enjoying a renaissance thanks to online subscriptions; media is in a new golden age of on-demand streaming; and car subscriptions give access to a range of vehicles from the same company. Adobe led the way in cloud-based subscription software services, overcoming the initial drop in revenue and rise in expenses to reach a position of steady growth. With the Internet of Things even heavy equipment like construction supplies can move to a subscription model by teasing out the service-level agreement that sits behind the product. The subscription access model is being used in healthcare, government, utilities, and more. The customer-focused subscription company has to break down...