The New Buzzword Retailers Need to Know

If you need more evidence of major shifts going on in retail, a recent report says changing consumer expectations mean it's time to switch up the industry lingo. The report by PwC found that brands should forget what they've heard about "omnichannel," a piece of jargon that means retailers must have physical stores, as well as web and mobile sales platforms. The new buzzword is "total retail." "Consumers now view multichannel shopping as a given," said Steven Barr, PwC's U.S. retail and consumer practice leader. "Today's nonstop shoppers have taken things into their own hands, becoming more tech-savvy than retailers."