Akshay Vemuganti

BILLION DIGITAL BUYERS

Akshay Vemuganti

Per a recent world economic study, we have entered a 'Fourth Industrial Revolution' where industries, technologies, and jobs are getting disrupted faster than ever before. The astronomical change in economic landscape, industry shifts, and consumer behaviors pose a direct threat to traditional business models. Let's consider the brick and motor retail, for instance, losing revenues to the online and mobile channels. For the first time in retail history, customers are asking for what many retailers and brands cannot provide. In the United States, one in every five dollars spent goes to Amazon. In 2019, Amazon was responsible for over 50% of the growth in the United States commerce. The rate of speed in change has been overwhelming. And, when retailers and brands don't realize and disrupt their operating model; satisfying the ever-demanding consumer becomes an increasing problem. Be it the e-commerce gold rush in Asia or rise of the last mile delivery 'Unicorns', retail industry at the peak of Digital Disruption.