A New Retail Ecosystem

In the past, you and I would shop for our wardrobe at a local mall by visiting department stores such as Macy’s and other retailers like bebe, The Limited, Banana Republic and such. It’s safe to say that technology has changed all of that. However, this shouldn’t be news to anyone. It’s happened before.

Let’s rewind to about a decade ago when the internet and social media completely transformed the music industry into what we know today. Up-and-coming artists who used to rely on record labels to listen to their demos for their big breaks are now getting some of their power back — all thanks to how we use technology to discover and consume music.

The same transition is happening today in the retail industry, where a whole new ecosystem is being formed, and everyone in the game — designers, makers, wholesalers, distributors and consumers alike — needs a new map.

Read the rest of the article here.