Reimagining The Retail Industry With Retail 3.0

CALIFORNIA CITY, Calif. - Sept. 28, 2021 - PRLog -- Retail Industry: A Timeline

The story of Retail 1.0 started in 1916. Clarence Saunders, a salesman from the US, visioned and proposed to a distributor to create a store with exposed shelves. Stores where people can view the goods and their prices, move freely in the store along a guided path, and can carry the products independently. Hence came the present day supermarkets in shape. In a matter of just over ten years, the distributor opened more than 2,500 supermarkets in the United States based on the idea of self-service for customers. The American brand Walmart pioneered the idea of the supermarkets further. They introduced 'Everything under one roof' stores – a store which could offer all kinds of good/products under one roof.

Retail 2.0 – the era of ecommerce retail, soon replaced and followed Retail 1.0. Ecommerce refers to the buying and selling of goods over the internet using a digital experience platform to transfer money and data to facilitate the transactions involved. Here technology and internet were the real disruptive factors because together they completely transformed the sales/purchase models. We know how Amazon transformed from an online bookstore to the world's biggest ecommerce platform in the shortest possible time.

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