Redefining Retail

Part IIThe 10 BEs of Post‐Digital Retail

Change is the only constant.

—Heraclitus, ancient Greek pre‐Socratic philosopher, active around 500 BCE

By the late 1980s it had become clear that the economic conventions favoured by policymakers for three decades—including liberalized trade, maximum efficiency, and the supposed superiority of open markets—could not protect against disruptions and black swans. Policymakers are now looking to secure supply chains and prioritize trusted partners for trade relationships, even when doing so is somewhat less efficient. However, the path forward remains unclear, since elements of the previous economic orthodoxy are still in the process of being set aside.

Given the clear evidence that many elements of the previous status quo are no longer viable, with this section we hope to inspire world business leaders in the search for a new path forward.

In particular, we outline a strategic framework built upon 10 guiding principles that we believe can serve as compass and radar to navigate the complexity and uncertainty of the post‐digital era. We developed these principles from our hundreds of conversations with executives from different industries and countries. And while much of them are widely applicable, there are a few key factors to consider when using the framework for your purposes:

• SOCIO-CULTURAL NUANCES: Different regions and cultures have unique consumer behaviours, preferences, and market dynamics. These nuances also play a role when ...