The risks are high in this environment because retailers who fall behind may not be able to catch up.
But the rewards are high, too, because those who give shoppers what they want when they want it can earn long-term loyalty and capture market share.
To succeed today, retailers are shifting their retail planning approach – from assortment planning and forecasting to space planning and fulfillment – to a customer-centric model which is responsive to demand across all touch points.
This new approach is forcing retailers to think new and plan differently by moving away from the push method of planning to one that begins and ends with the customer.