What are the current trends in retailing?

Two current trends in retailing-the growth of multichannel retailing and the increasing use of data analytics-are likely to lead to many more changes for retailers and consumers in the future. Multichannel retailers utilize and integrate a combination of traditional store formats and nonstore formats such as catalogs, television home shopping, and online retailing. Similarly, Crate&Barrel has integrated its store, catalog, and Internet operations, and Amazon has opened physical stores in six states, with more coming soon. Data analytics has been described as the "new science of retailing." Data now available from the use of wearable technology (described earlier in this chapter) and the growth of multichannel marketing complement the substantial amounts of data already collected through scanner and loyalty card systems. The combination of these data sources has the potential to enable a new, comprehensive, and integrated analytical tool for retailers.