The retailers left standing are those that figure out how to treat disruption as business-as-usual in an industry accustomed to slow, strategic planning. Today, even long-established retailers are starting to set and deliver on selling strategies at the nearly real-time pace set by their online competitors. It’s either adapt to the new environment or step aside and make room for a competitor who can.
To accommodate frequent, fundamental changes to business models, leading retailers generally follow three principles that have been developed through trial and error, often in the midst of disruption. Below, we explore each one, in turn: