Retail has become a people business (not a product business)

At the founding of American retail, in the 19th and early 20th century, retail was a product-first, product-led, product-centered business. Fast-forward to today and finding and getting product is definitely not consumers’ problem.

The very product-centric foundation on which retail was based and grew so aggressively through the 20th century has changed completely. The retail paradigm has shifted from one of Product-Product-Product to People-People-People.

Today’s retail visioniaries understand that meeting the new needs, desires and aspirations for the people that their enterprises are organized for – the customers – is the key to success. Serving the needs of people, not selling product, is the real goal of retail and how the money is made.  More...

thumbnail courtesy of forbes.com