But the massive change in the industry is not so much the end as it is a reinvention of the retail model.
The rapid growth of digital marketplaces—such as Amazon, Alibaba, Instagram commerce, click and collect models, and food delivery ecosystems—are changing how people buy and consume products and services. Expecting convenience and immediate gratification, customers are turning to marketplaces to get what they want, when they want it. At the same time, retailers are turning to them to expand assortment and reach, launch new products faster, and improve profitability—all at less cost. With the global e-commerce market expected to be worth $24.3 trillion by 2025, marketplaces are already the next wave of retail growth.