Leading retailers in the United States
In this digital age, it seems remarkable that brick-and-mortar retailers have displayed such staying power when it comes to pushing goods through the consumer pipeline. In a year that saw collective sales decline, the department stores in the top 100 generated average sales of 11 billion U.S. dollars in 2015. Top 100 supermarkets were slightly stronger, averaging approximately 34 billion U.S. dollars in sales in 2017.
The retail industry is in the midst of a customer revolution. The collision of the virtual and physical worlds is fundamentally changing consumers' purchasing behaviors. Consumers are seeking an integrated shopping experience across all channels and expect retailers to deliver this experience. The key drivers of this customer revolution are the rapid adoption of mobile devices, digital media and tablets equipped with shopping apps. In fact, the number of smartphone users in the United States rose to 208.61 million in 2016 from just 122 million in 2012.
The retail paradigm has shifted from a physical connection point with customers to a multi-pronged approach that crosses both physical and digital channels. The traditional bricks-and-mortar retail store is no longer the dominant medium for purchasing goods. Instead, it serves as one of many potential connection points between customers and a retailer's brand.
Today's consumer is increasingly connected to both the physical and digital space and able to interact with retailers through multiple channels simultaneously. To stay competitive in this ever-evolving landscape, it is imperative for retailers to deliver a seamless customer experience across all channels and provide the right services and products at the right time.