Amazon
Headquarters: Seattle, Washington
Year founded: 1994
Why it's revolutionary: In spring 2019, Amazon announced that it would start making one-day shipping the default for Prime customers. Amazon continues to make online shopping faster and more convenient, giving consumers the instant gratification they desire. It's been a massive success on many fronts, but a labor and logistical challenge. As the supply chain smooths out, Amazon's one-day shipping offering promises to set a new precedent for online retailers — one that many may find hard to match.
Walmart
Headquarters: Bentonville, Arkansas
Year founded: 1962
Why it's revolutionary: Walmart has been able to hold its own and build an e-commerce empire. It's also doing a lot to maximize the efficiency of its physical spaces, pushing automation and adding robots to its stores. Walmart's willingness to innovate has kept it ahead of the pack.
Starbucks
Headquarters: Seattle, Washington
Year founded: 1971
Why it's revolutionary: Starbucks is putting mobile ordering and pick-up at the forefront of its business. Starbucks' new Pickup stores are designed to get coffee lovers in and out as quickly as possible. Customers can either order ahead through the mobile app or order in-store. With Pickup stores, Starbucks has made it even easier and faster to get coffee to go, setting a precedent for the fast-food industry that is sure to make waves.
Headquarters: Menlo Park, California
Year founded: 2010
Why it's revolutionary: In 2019, Instagram fully embraced its role as retail's new aspiration-to-gratification machine, adding an in-app checkout feature. This addition was a long time coming, as Instagram's influence on the way people shop has only been growing. Instagram puts a story and a face to products in ways brands haven't been able to do before, and that's something that will continue to define successful retail brands in the future.
Shopify
Headquarters: Ottawa, Ontario
Year founded: 2004
Why it's revolutionary: Shopify's stock soared over 200% in 2019 as direct-to-consumer retail grew in popularity. Shopify's e-commerce platform allows small and big companies to build online-based retail businesses. It allows almost anyone to turn almost anything into a money-making enterprise, thereby democratizing e-commerce to an unprecedented extent.
Rent the Runway
Headquarters: New York, New York
Year founded: 2009
Why it's revolutionary: Shoppers' priorities have shifted over the last decade. Secondhand shopping is on the rise as shoppers want quality, luxury, and minimal environmental impact. Rent the Runway hits on all three of those desires, and it also provides an appealing, accessible alternative to fast fashion. The company's vision of a large-scale consumer shift from clothing ownership to renting may be a long way off, but it is an alternative system that's proven viable for the company's target market.
Peloton
Headquarters: New York, New York
Year founded: 2012
Why it's revolutionary: Peloton is changing the definition of "home fitness." By bringing the community of a gym to the comfort of home, Peloton has redefined what it means to purchase exercise equipment. Its dual purchase-subscription business model is the natural next stage in the home fitness evolution: more connected, convenient, and profitable than ever. Peloton's success has proven that traditionally physical spaces can be digitalized, and that opens up a lot of possibilities beyond just fitness.
ThredUP
Headquarters: San Francisco, California
Year founded: 2009
Why it's revolutionary: The trendiest new clothes are often old clothes these days, and ThredUP is making trendy old clothes more accessible to shoppers. Experts predict that online resale will grow up to 10 to 15 times faster than fast fashion in the future. ThredUP has taken the charm of a thrift store treasure hunt and scaled it for an online community of thousands of shoppers. Poshmark, founded in 2011, provides a similar resale platform, while The RealReal, also founded in 2011, is a comparable platform for the luxury market.
Taco Bell
Headquarters: Downey, California
Year founded: 1962
Why it's revolutionary: Taco Bell's most revolutionary move recently has nothing to do with food. Rather, the chain's decision to test a six-figure salary for its managers might transform the landscape of fast-food labor, forcing other major chains to offer higher salaries as well. Retailers and fast-food chains have been struggling with worker retention as jobs in retail become less desirable. Perhaps Taco Bell has figured out a simple solution: pay workers more.
Nordstrom
Headquarters: Seattle, Washington
Year founded: 1901
Why it's revolutionary: Nordstrom has jumped on two of today's most defining retail trends: online-oriented infrastructure and luxury resale. The department store chain has been proactive in pivoting away from the dying department store format, diving into tests of its pickup-only store, Nordstrom Local, and introducing resale at its New York flagship and at Nordstrom Rack. Partnerships with trendy fashion startups like Everlane and Rent the Runway are a smart way for the company to stay relevant.
TJ Maxx
Headquarters: Framingham, Massachusetts
Year founded: 1976
Why it's revolutionary: TJ Maxx isn't really doing anything new. In fact, the off-price retailer is doing what it's been doing for years: selling the same things other stores sell, but for lower prices. As America's once-robust middle class continues to shrink and retail continues to splinter into two segments — value and luxury — TJ Maxx has found itself conveniently positioned. It offers its customers the treasure hunt experience, promising department-store quality for thrift-store value.
Glossier
Headquarters: New York, New York
Year founded: 2014
Why it's revolutionary: Springing from a blog founded by beauty editors, Glossier swiftly got to the core of what women really want from makeup. Its natural-beauty aesthetic is also a popular Instagram aesthetic: it's the glowy, effortless allure of the VSCO girl. Glossier is primarily direct-to-consumer, with a limited number of stores focused on enabling customers to try makeup before ordering it online. This model is also used by many other popular DTC brands like Casper, Mejuri, and more.
B8ta
Headquarters: San Francisco, California
Year founded: 2015
Why it's revolutionary: B8ta was built to revolutionize retail. The high-tech store design company has pioneered innovative tracking technology, RFID-equipped dressing rooms, and more. Its experimental stores have two purposes: showcase direct-to-consumer brands, and test out retail design and technology that could improve both the shopping experience and the feedback a brand receives about its product.
Impossible Foods
Headquarters: Redwood City, California
Year founded: 2011
Why it's revolutionary: Impossible Foods made big waves when Burger King launched the Impossible Whopper nationwide in August 2019. Its plant-based burger also hit grocery store shelves later that year. But Impossible Foods was just getting started. With the reveal of Impossible Pork at CES 2020, the company is poised to take on an even bigger market. Plant-based "meat" went from obscure to mainstream in the course of pretty much one year, and the change is only beginning.
Beyond Meat
Headquarters: El Segundo, California
Year founded: 2009
Why it's revolutionary: While Impossible Foods is slower to partner with brands to create specialized menu items, Beyond Meat has been more willing to adapt its products to chains' specific needs. Beyond's flexibility has landed it major partnerships with chains like Dunkin', KFC, and Carl's Jr., bringing the plant-based "meat" movement to a wider audience than many imagined would ever be possible.
StockX
Headquarters: Detroit, Michigan
Year founded: 2015
Why it's revolutionary: A resale platform for sneakers may seem too niche to have a broader impact, but StockX isn't just any old resale platform. It's a stock marketplace where sneakers are the commodity. There's no fixed pricing for any of the products sold on StockX's platform. This model has worked swimmingly for the sneakerhead community, and its success in that niche could open the door for this model to expand into other markets.
TikTok
Headquarters: Culver City, California
Year founded: 2016
Why it's revolutionary: TikTok is redefining the game for retailers in two ways: by opening the door to new influencer partnerships and by changing how brands are able to connect with their customers. The video sharing app allows for brands to connect with customers on a personal level by putting faces and personalities at the forefront. For brands seeking to understand and woo Gen Z, TikTok is the love language they need to learn.
- Read more in our Revolutionizing Retail series:
- Retail is evolving faster than ever before to keep up with the changing desires of consumers in the digital age
- The retail apocalypse has forced stores to abandon the mall and transform into a destination where shoppers can take a 'vacation from reality'
