wayfind Issue 40

100 Brands, 11,000 Consumers, One Winner


The state of the industry can be summarized in one word: Reformation. Consumer preference is shifting faster than we can say “Hey Alexa”, brand awareness is rapidly eroding, and the market is being dominated by niche brands birthed from the ecommerce and social media boom. And to top it all off, we are truly in the midst of a mass exodus towards online shopping; by 2040, nearly 95% of all purchases will take place on ecommerce channels. But despite this online affinity and the fact that brick-mortar retailers closed around 7,000 stores in 2018, not all hope is lost for traditional brands. They have existing consumer bases and a wealth of data that even the most established start-ups couldn’t compete with. And now, both of these players are vying for consumers’ attention.

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