ABSTRACT
In recent decades, we have seen paradigm shifts in the retail world. Sellers and customers are drifting to online space due to an increase in digital literacy which empowers customers to take smart decisions. This shift is happening at different speeds and paces depending on the economic stage of the market. In this study, after analyzing the trends of digital adoption in different markets, researchers propose a retail evolution model and conclude that all the markets will reach a maturity stage where online and offline channels co-exist and synergize. Omni-channel capability is the key success factor for any traditional shop to sustain itself in the evolving retail world. Hence, an Omni-channel ecosystem should be developed to offer equal opportunities to retailers irrespective of their size. Ideally, this ecosystem should be managed by the government so that it ensures that customers and small retailers are not exploited.
