Some time ago, an article by McKinsey directors stated that, in light of the unprecedented disruption in the sector, the measures a retailer takes today can determine whether it spends the next 20 years as a leader or a laggard, directly alluding to the business ecosystem. This model is gradually becoming familiar to Brazilian retailers at a still slow pace that can sometimes be frightening given the constant and rapid transformations we are experiencing.
One thing is certain: consumers aren't researching as much as they used to and are abandoning brands without a second thought. Convenience, sustainability, and agility are undoubtedly the order of the day. McKinsey research shows that consumers are willing to purchase adjacent services from retailers. For example, Walmart has long offered financial services, and Amazon has been making inroads into healthcare. Major pet retailers, such as Petco, are now offering veterinary, food, and grooming services. In Brazil, we have good examples with Tramontina, Multfer, and Casa Teruya, which have transformed their operations through the business ecosystem.
The business ecosystem plays a key role in a store's expansion, offering support, opportunities, and resources that can drive sustainable growth. Participating in this model allows a company to reach new markets and consumers that might otherwise be inaccessible. This is particularly relevant on online platforms and marketplaces, where millions of consumers are active daily.
Many business ecosystems provide valuable opportunities for networking and strategic partnerships. This connection with other entrepreneurs, suppliers, investors, and industry experts can open doors to collaborations that benefit the company's growth, whether through new products, complementary services, or geographic expansion.
In a competitive and dynamic market, being part of a business ecosystem allows retailers to keep up with trends and adapt quickly to market changes. This includes adopting new technologies, implementing innovative marketing strategies, and adjusting product offerings to meet consumer demands.
As can be seen, this expansion of the Brazilian retail business ecosystem not only provides consumers with more options but also creates a competitive environment that encourages innovation and continuous improvement of the services and products offered. As the market continues to evolve, new opportunities and challenges are expected to emerge, further shaping the future of retail in Brazil.
