Episode 78: The Future of the Retail Economy
In a special edition of radioIA, guest host Ray Ehscheid, IA director of client services, speaks with Kate Ancketill, CEO of GDR Creative Intelligence, about the dynamic changes shaping the future of the retail industry.
At IA’s New York office, Ehscheid and Ancketill recently explored their parallel visions of the retail economy at a special event ‘Adapting to Today’s Consumer: Reframing Retail Direction in New York and across the Globe’.
Platformization is a term that’s used for changes in retail, and platform thinking is a radical modularity that both sweats assets and delights consumers.
Listen to our previous episode with Kate exploring the future impact the IoT and Fourth Industrial Revolution will have on retail.
From a retail machine to a retail platform:
“There used to be a machine that was American retail, and it was designed to sell to a large middle income group of the population,” according to Ancketill “But since the 1970s, the middle income group has fragmented for many reasons, and we are now in a situation that many people consider a crisis.”