These Are The Moments That Shaped Retail In 2018

  • By Jenny Schecher
  • in
  • on December 18, 2018

The year 2018 is almost over, which means it is the perfect time to reflect on all the great moments that happened in the year. It is also a time to look forward to the future of 2019, and all the great things that will come.

For the retail industry, we have seen quite some exciting things happen in 2018. From bankruptcies to innovative tech, the retail scope has undergone many changes that have affected companies and business professionals alike.

The Retail Apocalypse Emerged in America

Shopping malls became increasingly empty in 2018, as e-commerce and online sources became popular (and more preferred) shopping tools among consumers. Because of this, retailers had no choice but to shift the way they thought about the priorities of their business. Brands started to incorporate new retail tech into business operations. This included making sure that online components were offered to their audience.

When there is an empty mall, you can bet it began when stores started to become increasingly barer. Stores like Sears and Toys R Us struggled with bankruptcy this year, resulting in dozens of stores to close.

“Toys R Us foreshadowed a tumultuous — and ultimately fatal — year with an announcement in January to hire a liquidator and shutter at least 180 stores in bankruptcy.” Retail Dive reports.

All of these factors lead to the retail apocalypse, which shaped the retail industry in a major way in 2018.

Amazon Made Strides in Retail

Although not classified as a traditional retailer, Amazon had quite the year in 2018, proving they can really do it all. Firstly, this powerhouse company shook the world with the announcement of its partnership with Berkshire Hathaway and J.P. Morgan for new health initiatives.

Amazon proved retail is not dead in 2018. The corporation rolled out new tools that can be incorporated into retail initiatives, such as the Amazon Alexa. It also dived into brick and mortar retail, taking a different approach from e-commerce and online action.

Amazon partnered with Whole Foods, establishing a brick and mortar concept that allows customers to shop Amazon products through the store. Now, Amazon announced just this month, that there are plans in the works that will put Amazon Go in places like hospitals and airports, making Amazon accessible in more places.

Companies Lost Some CEOs

In 2018, we saw many CEOs leave companies, sometimes even after only after a year or two. We saw this with J. Crew, who lost their CEO, James Brett, after a little more than a year.

The CEO of Lululemon as also left the company in 2018, after being ousted for misconduct. Nike’s CEO went through the same situation, which also led to the departures of many more executives after being accused of having a negative company culture.

The departure of these executives led the retail industry to conduct internal reviews when it comes to making a change when it comes to cultural transformation.

…What Will 2019 Bring?

ABOUT DIGITAL RETAIL TRANSFORMATION ASSEMBLYCDOR7

C-Level experts from across North America’s retail industry are coming together in Dallas in February to anticipate the highly complex digital retail environment that will develop over the next few years.

Through a cutting-edge program designed by the industry, for the industry, we will provide a fresh and up-to-date insight to help move your organization to the next level of digital leadership. A series of executive education roundtables, keynote presentations, collaborative think tanks, educational workshops, and networking sessions will offer industry-specific topics and trends to ensure your company sustains its competitive advantage.

Are you a Retail executive interested in attending this event? Enquire here today to find out if you qualify for Millennium Membership >>

Download the Sponsorship Prospectus to find out if your eligible to sponsor our event >>

Leave a Reply
PUBLISHED BY Jenny Schecher

View all posts by Jenny Schecher

Related Posts
How SoFi Drives New User Acquisition with Slickdeals

Financial Services , Marketing , Retail

How SoFi Drives New User Acquisition with Slickdeals
#MillenniumLive on Healthcare in America with Dr. Jonathan Gruber

#MillenniumLive , Healthcare , Podcast

#MillenniumLive on Healthcare in America with Dr. Jonathan Gruber
Optimizing Your Web Experience with Glassbox

CMO , Digital

Optimizing Your Web Experience with Glassbox
#MillenniumLive Let’s Secure the Future with Rapid7

#MillenniumLive , CISO , Podcast

#MillenniumLive Let’s Secure the Future with Rapid7
Looking to
Sponsor?

Reach thousands of C-Level
Executives every month.

Next Request More Information
Become a Guest
Contributor

Do you have content that you feel will
resonate with our audience? We'd love to
welcome you as a guest contributor!

Next Contact Digital Diary
Lovin’ Digital
Diary?

Premium content to our readers
interested in all things business.

Next Subscribe Now
Check Us Out!

Millennium Membership offers Fortune 1000 C-Level executives, leading public sector/government officials, and thought leaders across a variety of disciplines unique and exclusive opportunities to meet their peers, understand industry developments, and receive introductions to new technology and service advancements to help grow their career and overall company value.

Next About Millenium Alliance
team
About Digital Diary
The go-to source for all things digital transformation.

Launched in 2017, Digital Diary was created to provide premium content to our members interested in executive education and business transformation. With C-Suite executive and top academic contributors, interviews with industry leaders, and digital transformation insights from technology experts, Digital Diary has all of the professional development tools you need to stay ahead of the curve.

Meaningful Opportunities
Leadership skills at every level

We are dedicated to distributing meaningful opportunities for our reader to increase their personal knowledge, simplify business initiatives, and to have the right information to build their capabilities and leadership skills at every level.

team
Millennium Alliance Membership

In the midst of disruption across all industries, our members are given the tools they need to digitally transform their organizations.

 
What does it mean to be a
Millennium Member?

Joining Mill All is an opportunity unlike any other to connect with the best professionals in your industry and be a part of a community to become the best leader you can be.

50+ Annual Exclusive Invite-Only Assemblies
$1 Billion+ In Business Deals Conducted Annually
47k+ Engaged Members
2k+ Executives From Fortune
500 Companies Attend Each Year
97% Of Members Are VP Level & Above
5k+ Annual 1:1 Networking Meetings

Interested in Learning More?

Reach out to us or
keep learning
arrow Read the Digital Diary
NextConnect with Us