Toys ‘R’ Us Might Be Dying, but Physical Retail Isn’t
- Retail isn't dead; retailers just need to evolve with the changing economy.
“The rise of e-commerce, combined with a shift in consumer preference toward dining out over shopping and with years of overbuilding, has made for distinctly unattractive economics in traditional retail.”
Take a look at the likes of Toys ‘R’ Us and you might be tempted to declare that the ‘Retail Apocalypse’ is coming for commerce. The continued closure of big box stores in recent years, however, isn’t so much about the death of retail as it is a story about legacy firms struggling to innovate in a changing economy. Greg Satell writing for the Harvard Business Review explains.