The retail industry faces challenges similar to those in other industries. For companies that sell through retail and for the retailers themselves, these challenges are magnified by the consumer's expectations in today's economy. The "speed" of society and ever-increasing technology changes are driving consumer expectations for new products and a highly customized shopping experience.
At the same time, pressures on the backend are mounting, too. Larger retailers, with their efficiencies of scale and international scope, are pushing prices down and slashing margins. Retail today is all about being better, faster, and leaner.