The new world of retail is more customer friendly but comes with a new set of risks and challenges.
Retail trends spurred and/or heightened by the pandemic are here to stay, such as buy online, pick up in store (BOPIS). In fact, the global BOPIS market is expected to reach $666.2 billion by 2028.
Other retail trends with staying power include:
- Fulfilling online orders with store inventory
- Curbside pickup
- Buy online, return in store (BORIS)
- In-store automation, e.g., contactless payments and self-checkout
- Shopping via social media platforms
Below we explore the risks associated with these trends and ways retailers can prepare for and respond to them.
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