Consumption of goods and services is dramatically changing. The traditional retailing business model is experiencing downward pressure on foot traffic, browsing and sales. The browsing is happening online as online sales increase. But is that the whole mosaic?
After a net loss of nearly $20 million in 2015 and 2016, the furniture retailer I.O. Metro LLC in March hired a Dallas turnaround company to analyze the business and develop a plan to make the company profitable. They determined the retailer couldn't be saved.
Mervin Jebaraj was named the interim director of the Center for Business & Economic Research at the University of Arkansas at Fayetteville in April to replace Kathy Deck. He has been with the center since 2007.
Technology is transforming nearly every industry, causing disruption that often creates unforeseen challenges to business models. Companies that ignore technology, rather than embracing it, could become irrelevant.