Looking ahead to the next 5 years, give us 2 competing scenarios (2 futures) that you feel describe the future of a sector in Canada (retail, healthcare, education, environment, finance, and technology). Then select one of your classmate’s most likely scenario and explain why.

Looking ahead to the next 5 years, give us 2 competing scenarios (2 futures) that you feel describe the future of a sector in Canada (retail, healthcare, education, environment, finance, and technology). Then select one of your classmate’s most likely scenario and explain why.

answer

The retail sector in Canada is anticipated to continue growing and prospering over the following five years. With more individuals choosing online transactions and their growing demand for convenience and a wide selection of goods, the retail industry is primed for growth. Canada’s retail sector is anticipated to continue to develop over the next five years after experiencing consistent growth in previous years. Industry researchers expect customers to embrace internet purchasing during the next five years. Because of how appealing online shopping is to consumers in terms of convenience and range of options, online retailers’ sales have expanded tremendously. Due to a change in customer behavior that will see online shopping replace conventional shopping channels, the Canadian retail industry will probably experience difficulties.

Businesses in this sector will be pushed to make revolutionary adjustments or risk potential closure due to the current seismic shifts in the retail industry. As consumers gradually move away from traditional purchase methods and toward online and mobile alternatives, the retail industry in Canada is predicted to face significant problems over the next five years. The retail sector will have to shift significantly due to this revolution to compete. The widespread use of mobile devices has greatly enhanced customers’ ability to purchase online and flexibly, regardless of location or time. This ease will draw clients over the next five years, increasing online retail sales. Retailers who do not modify their business plans to reflect the changing retail environment may find it difficult to stay in business. Adaptable people must focus on offering a pleasant customer experience while investing resources in building and implementing online and mobile platforms.