By Jacob Bruun-Jensen, Principal, Monitor Deloitte
Consumer confidence is high, but retail sales remain flat.
Deloitte looked at the structural changes that are occurring in the retail industry. Our recent research shows these transformations are so profound, we call it the Great Retail Bifurcation. This division within the retail market is taking place along two dynamically shifting, yet interrelated, dimensions: Consumers and Competition.
THE CONSUMER BIFURCATION
We see several major shifts influencing consumer behavior in ways that directly compel retailers to adapt and respond with greater agility in meeting their expectations. While some segments have more sway than others, the sheer numbers and accompanying discretionary spend of the following are significant.