The retail apocalypse has not come to pass, nor will it. For those retailers willing to embrace digital transformation, the perception of a zero-sum game between online and brick-and-mortar has been discarded. Many companies will not successfully make the transition to “new retail.” Those which embrace the convergence of channels and the concept of retail ecosystems will leverage their true competitive advantages.

Retailers can go beyond simply competing on price and service in order to offer deeper value across the customer journey, translating what was previously a threat into new opportunity to outperform. Organizational and technological change will necessarily provide the foundations for reinvention and for meeting the expectations of increasingly empowered consumers.