Doomsday predictions of a “retail apocalypse” notwithstanding, industry disruptions including thousands of store closings and many bankruptcy filings provide opportunities for brands to grow their customer relationships, according to a new study from Deloitte Digital and Salesforce.
Even as reports of closures and filings continue, Deloitte and Salesforce project that brick-and-mortar retail will grow by $36 billion over the next four years, while ecommerce will outstrip it, increasing by $50 billion in the same period.
The study found that retail spend has outperformed GDP and risen every year since 2009. In 2017, 44% of consumers reported spending more on retail than in 2016, with only 14% saying they spent less.
Deloitte and Salesforce found that the rise of technologies such as artificial intelligence, machine…