Internet Of Things (IoT), VR And Blockchain: How To Survive The "Retail Apocalypse"

Silicon Valley is abuzz with Internet of Things (IoT), virtual reality (VR)/augmented reality (AR) and blockchain vendors seeking the Holy Grail of Retail: mass consumer markets where their technology can help fashion designers and retailers survive the "retail apocalypse." At the recent San Francisco Tech Fashion Week, retail experts provided invaluable insights that could save millions of designers, major retailers and small shops from bankruptcy. Here are key insights from three panels. In 2014, Macy's learned that "omnichannel marketing is the way to go." Instead of targeting customers with one channel, whether online or in-store, retailers must pursue multiple channels. For example, small retailers can also sell on Amazon to leverage its free shipping, which is a major competitive advantage.