All We Know About Retail is About to Change

The title reminded me of chatter when e-commerce was ramping up. However, there is a growing tide, a silent tsunami that will be a greater game changer than online retail. The greatest opportunity for differentiation has been price, it has been quality, it has been convenience but it will soon be responsibility.

The responsibility requirement is not coming because consumers are starting to care. It is coming because consumers will soon be able to easily find out which companies are showing leadership in responsibility and which ones are profiteering. The phenomenal growth to 75 million fair trade shoppers shows that the caring consumer will soon be the primary consumer.

I am excited for the day when retail clerks will need preparation to answer questions like,

  • “Were the people who made these shoes paid a living wage?”
  • “Does the factory where this was made meet international standards?”
  • “What has your company done to improve the world?”

My guess is that within 3-5 years, genuinely responsible companies will start taking market share from companies content with status quo. If responsibility is little more than a polite velleity, your company will miss the responsibility boat – a sizably larger boat than e-commerce.