Only three in every 100 retailers think their business model and customer proposition will remain relevant over the next five years.
Just over three-quarters (76%) of retailers believe they will need to fundamentally change their proposition, while 21% doubt their model will be sustainable in its current form and think they will need to adapt it.
That is according to research by OC&C Strategy Consultants and World Retail Congress, which drew on interviews, financial performance and customer ratings data from 800 of the world’s largest retailers.
Retailers will need to transition to new models of growth quickly to remain relevant.
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