Who is Vilfredo Pareto?
(No. He is not a clothes designer.)
He’s the Italian economist who found that that 80% of the land in Italy was owned by 20% of the population.
…and that’s the origin of the 80/20 rule.
…and what does that mean to retail stores and restaurants?
5 Tech Trends That Will Hit Every Retail Store By 2020
“eMarketer reported that global e-commerce sales hit $1.3 trillion at the end of 2014, an increase of 22 percent over 2013. Meanwhile, growth at U.S. retail outlets is in the low single digits, according to figures from the U.S. Department of Commerce collected by Business Insider.”
Does that mean that the prospects are bad for small mom and pop brick-and-mortar stores?
A New Restaurant Concept is Growing by Leaps and Bounds
It’s called delivery.
In previous newsletters, we talked about the rapid growth of restaurant delivery.
There is a big trend for consumers that don’t want to go to a restaurant. Forget calling and picking up your order. People want it delivered.