The term “digital transformation” is a bit of a misnomer. We are not going to transform the digital world; it is transforming us — everything from our smartphone-centric activity to the huge influence of social media on almost everything we do. We can complain about the technology tsunami all we want (and we do) but it is NOT going to slow down. If anything, there is every indication that it will continue to accelerate.
The question, particularly for retailers, is how will we adapt? We’ve seen a steady stream of big names get caught by surprise when competitors quickly take advantage of available technology and present a great assortment, low prices, and often free shipping, directly to the customer. Certainly, Amazon and Walmart are the behemoths, but there are now hundreds of websites that sell just about every commodity available.
