Technology and globalization are changing the retail landscape and successful retailers will be those who can respond and adapt to those changes, attendees of the National Retail Federation’s annual convention were told on Monday.

Speaking to a crowded ballroom on Monday morning in New York, National Retail Federation President and Chief Executive Tracy Mullin, Metro AG Chief Executive Hans-Joachim Koerber, and Microsoft Corp. Chief Executive Steve Ballmer said technology and the Internet have altered how consumers shop and what they expect from retailers.

“Through blogs and consumer reviews, customers are letting the retailer know how they feel about shopping at their store or Web site, and whether they like the products they brought,” Mullin said.
Retailers who have set up customer reviews, where shoppers can give feedback on products they have purchased, have reported more satisfied customers and fewer returns, she said, because consumers can lean from the experience of others and avoid products with bad reviews.