Like many industries today, retail is in an extreme state of disruption. In five years, 25% of malls will be gone. The U.S. has way too much retail space per capita at 23.5 square feet, compared to 16.4 in Canada and 11.1 in Australia. And retail giants Macy’s and J.C. Penney have shed over 100,000 jobs since October 2016.
While these figures may seem a bit ominous, innovation sparks opportunity. Digital transformation is driving a new breed of retail that will take consumers where they’ve never been before.