CRMC 2019: Where technology meets consumer behavior

Despite retail sales hitting a record $6 trillion in 2018 (outperforming the 2007 pre-recession high of $4.4 trillion), certain trends, like store closures, are continuing to rise. For example, a staggering 5,994 stores closed in the first three months of 2019, exceeding the 5,864 that closed over the entire course of 2018. Two key shifts taking place in retail are inextricably linked: The first is technology; the second is consumer behavior. This is creating a chasm between those who are thriving and those who are, to put it simply, not thriving at all.