Do Department Stores Have a Future (Part 2)

What's new and next for store traffic: This week we welcome Ethan Chernofsky, VP of Marketing for Placer.ai, a leading analytics firm that harnesses mobile data from tens of millions of devices, to deliver visibility and insight into offline behavior. We discuss what changes in foot traffic across retail product categories and geographies suggest about the impact of the COVID-19 crisis and what it may all mean for the timing and magnitude of a retail recovery. by Remarkable Retail

36 min listen

The Future Will Not Be Evenly Distributed with Publicis' Chief Commerce Strategy Officer Jason "Retail Geek" Goldberg: This episode features a deep dive into several key concepts to navigate the COVID economy and execute the journey to remarkable. First and foremost is the idea that much of the disruption that will determine future winners and losers is already in play, though we may yet see it or fully appreciate its importance. Second, we must be careful not to fall into the trap of managing by averages or becoming overly obsessed with more traditional channel-centric metrics. The customer is the channel, the lines between online and physical shopping are blurring and we must bust the silos that get in the way of a remarkable customer experience. Our special guest is the one and only Jason Goldberg, chief commerce strategy officer for Publicis and co-host of the "Jason & Scot Show", one of the most followed and influential retail podcasts--at least until very, very recently. Jason h by Remarkable Retail

44 min listen

Human-Centered Retail with guest Rishad Tobaccowala, author of Restoring the Soul of Business: "I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel." - Maya Angelou We're moving on to the 2nd of the "8 Essentials of Remarkable Retail": Human-Centered, where we open the aperture on concepts of customer-centricity and explore why they might be limited. We consider the criticality of empathy and right-brained thinking when it comes to unlocking the why behind the buy and how we can create brands stories that spread. We are also joined by famed business strategist Rishad Tobaccowala, who shares insights from his bestselling book Restoring the Soul of Business: Staying Human in the Age of Data and a 30 year career advising clients on change, innovation and growth. We explore how companies like Costco and Starbucks balance math and meaning to deliver remarkable results, as well as what it takes to consis by Remarkable Retail

42 min listen

A World Turned Upside Down with Forrester Research's Sucharita Kodali: In our inaugural episode we explain what Season 1 is about and the structure of the podcast. We talk about why Steve wrote his book, the underlying concepts of ""Remarkable Retail: How to Win & Keep Customers in the Age of Digital Disruption" and his "8 Essentials" framework. We unpack the idea that "shift happens", dissect the Black Swan event that is the global pandemic and delve into whether Steve would have changed anything in this book given it was completed just a few months before the COVID-19 crisis. Next Sucharita Kodali Vice President and Principal Analyst at Forrester Research joins us for a peek into what's now and what's next for retail. Finally, we talk about Steve's recent Forbes article about the Five Emerging Forces of Retail's New Normal. by Remarkable Retail

54 min listen

Retail isn't dead - boring retail is.: Season 1 Trailer I'm here to tell you: Retail isn't dead. Boring retail is. As a C-level executive at two Fortune 500 companies, keynote speaker and strategic advisor to dozens of retail, consumer and technology brands I help organizations accelerate their growth. I’m also the author of the new best-selling book, “Remarkable Retail: How to Win & Keep Customers in the Age of Digital Disruption”. Join me and my co-host Michael LeBlanc, Producer & Host of The Voice of Retail podcast, as we use my “8 Essentials of Remarkable Retail’ framework to explore modern retail, before, during and after the COVID-19 crisis. Each and every week along with special guests including top retailers and industry thought leaders, will explore the latest events and work to understand the lessons of the past and present to craft strategies for the future. So please join us each and every week starting September 29, 2020 for a lively and interactive journey t by Remarkable Retail

1 min listen

Putting the Pride & Joy Back into Retail: Steve knows a thing or two about how hard it is to write a best-selling business book on retail. And our guest, Ron Thurston has done just that. ... on this episode we delve into a few of the key themes in Ron's great new book Retail Pride: The Guide to Celebrating Your Accidental Career. We discuss why those who work in retail deserve to be celebrated, what it takes to deliver a remarkable, joyful customer experience and how COVID has--or hasn't--changed the key aspects of great retail. We also explore Ron's "Three Pillars of Retail Expertise": empathy, curiosity and focus. All in all, it's an uplifting and optimistic look at the past, present and future of shopping. by Remarkable Retail

37 min listen

Retail Without Boundaries with guest Mitch Joel, bestselling author, keynote speaker and founder of Six Pixels Group: We move on to the 6th Essential ("Connected") in Steve's 8 Essentials of Remarkable Retail framework, discussing how an abundance of connection and the erosion of boundaries between consumers and brands has fundamentally redefined marketing communications and created entirely new business models. We also investigate why attention doesn't guarantee engagement, the role of social proof and the concept of a "Fourth Place." With our special guest Mitch Joel, we explore the 3 C's of Connection, striking the balance between direct response marketing and story-telling and what we misunderstand about about the role of digital and physical retail. We also discuss the growing power of social media and it's undeniable and profound effect on an individual's ability to create and share an idea instantly and for free to their network (or the world). Lastly, we unpack how services a by Remarkable Retail

43 min listen

The Collapse of the Middle with Deloitte Consulting's Kasey Lobaugh: In this episode we delve into a topic that sits at the core of the need to be remarkable: the on-going bifurcation of the retail market. For more than a decade success has largely been found at either end of the spectrum. At one end, brands that offered incredible value and convenience have been gobbling up market share and opening hundreds of stores, even in the face of the so-called "retail apocalypse." At the other end of the continuum, many higher-end stores and well-honed specialty concepts have similarly enjoyed expanding sales, profits and, in many cases, store counts. Yet those stuck in the mediocre middle, have been hit incredibly hard, a situation made all the more dire by the COVID economy. In this episode we discuss the underlying forces that are causing the collapse of the middle and how to get on the journey to remarkable. To better understand "the collapse of the middle" we interview Kasey Lobaugh, De by Remarkable Retail

44 min listen

Digitally Enabled: This episode we begin the journey to remarkable by digging into Essential #1 in Steve's "8 Essentials of Remarkable Retail" framework. And we've gone global with a great panel of joining us from New York City, Montreal and London. Our panel of experts, includes UNTUCKit CIO/CDO Lockie Andrews, digital strategist extraordinaire Carl Boutet and retail transformation consultant Oliver Banks. We unpack the profound shift towards digitally-driven customer journeys during the past decade and the great acceleration brought about by the COVID crisis. We also discuss how to strike the right balance between the analog, more human world and being digital-first--reminding everyone that no consumer buys technology. by Remarkable Retail

39 min listen

What's Next for Fashion Resale with Fashionphile Founder Sarah Davis: This week our guest is fashion resale pioneer Sarah Davis, the Founder, President & CCO of Fashionphile, the leading purveyor of preowned ultra-luxury accessories. We learn all about Fashionphile's 20+ year journey from scrappy boot-strapped start-up to its break-through partnership with Neiman Marcus. Along the way we learn the ins-and-outs of retail recommerce, what's driving its growth, how COVID affected its evolution and what it will take for all the various resale models to succeed in the future. In addition, we discover Fashionphile's remarkable track record of year-over-year growth and--brace yourself--profitability, as well as plans to add 10 more Neiman Marcus locations by early next year. by Remarkable Retail

40 min listen

Challengers of the Status Quo with Coresight Research's CEO & Founder Deborah Weinswig: EPISODE SUMMARY Why do so many companies defend the status quo even when it becomes increasingly obvious that their business model is losing customer relevance and remarkability? Why do others think they can cost cut and store close their way to prosperity? In this episode we look at the roots causes of how and why retailers sink into irrelevance and risk a mass extinction event. Then we flip these questions on their head to explore ways to defy conventional wisdom and create a culture of experimentation. Along the way we touch on why "the opposite is risky" and why quitting is often underrated (hint: it has to do with understanding opportunity cost). Nordstrom's Local strategy gets a shout-out, as does Apple's new Express concept. We also dub JC Penney the "world's second longest liquidation sale." Our special guest is Deborah Weinswig, one of retail's leading analysts and thought leaders, and the by Remarkable Retail

38 min listen

The End of Scarcity with best-selling author Seth Godin: In this episode we talk about the end of scarcity that previously characterized much of retail's evolution. As we entered the 21st century, some 98% of all retail was done in brick & mortar locations where access, product choice and the information about what product and services would best meet our needs--and the price we should pay-- was highly constrained. Now e-commerce and the ubiquity of smart devices has created an anytime, anywhere, anyway landscape and a world of abundant choice, where even very good is no longer good enough. Then we interview with the one and only Seth Godin, best selling author of 19 books, 7,000 blog posts, fellow podcaster…marketing legend. Seth implores retailers to ask themselves one key question in the age of COVID: “Would they miss you if you were gone.” We also get a preview of Seth's forthcoming book The Practice. by Remarkable Retail

48 min listen

Choose Remarkable: "The problem is, you think you have time." - Carlos Castaneda, Journey to Ixtlan As we transition to the second part of our inaugural season, we take a brief look back at the core principles behind why even very good is not good enough any more and why we must choose remarkable. As the pace of digital disruption accelerates, consumers are faced with a plethora of choices, creating ever more pressure for retailers to be the compelling, intensely customer relevant signal amid all the noise. by Remarkable Retail

36 min listen

The Customer is the Channel with guest Rob Mills, EVP, Chief Technology, Digital Commerce and Strategy Officer at Tractor Supply Company: “Silos belong on farms.” - Bob Thacker, former, Sears VP Marketing We're moving on to the 3rd of the "8 Essentials of Remarkable Retail": Harmonized, which revolves around the idea that we must drop our channel-centric thinking, processes and metrics, embrace the blur that is shopping today and see the customer as the channel. "Harmonized" retail moves us beyond omni-channel. It's not about being everywhere--or simply providing a seamless experience--we have to show up in remarkable ways in those moments that matter the customer journey. When we not only resolve discordant notes, but focus on "amplifying the wow" in our customer's experience, we can orchestrate an intensely relevant and memorable set of outcomes. With our special guest, Rob Mills, part of the senior leadership team at Tractor Supply Co. we talk about the success Tractor has had d by Remarkable Retail

48 min listen

A Brave New World: “You can't stop the waves. But you can learn to surf.” - Jon Kabat-Zinn In the final episode of our first season, before delving into the key themes from Chapter 20 ("A Brave New World") of Steve's book, we share two pieces of big news. The first is that an expanded and completely revised 2nd edition of Remarkable Retail will be released on April 13th, featuring a Foreword by Sucharita Kodali. It's now available for pre-order on Amazon or on Indigo in Canada and just about everywhere books are sold. The second is that we will be doing a new season of our podcast, launching February 2. More details on episode themes and special guests coming soon. This episode we explore what it means to operate in a "VUCA" world and how uncertainty, humility and adopting a "Beginner's Mind" can be the source of great wisdom. And we remind ourselves of SNL producer Lorne Michael's great quotation that "the show doesn't go on because it's ready. It goes on because it's 11:30." by Remarkable Retail

45 min listen

Retail's New Front Door with guest Stephan Schambach, author and CEO & Founder, Newstore: “We no longer go online, we live online” - Google In our discussion of the 4th Essential ("Mobile") in Steve's Essentials of Remarkable Retail framework we probe how smart devices have created a world where we can always be shopping and the new best location for our brand is wherever the customer happens to be with their smart device. Mobile is the ultimate silo-buster, allowing for an increasingly blended shopping world where the lines between physical stores and e-commerce are blurred. Adding to our conversation of how mobile is becoming the new front door to the store is online shopping pioneer and serial entrepreneur Stephan Schambach, who has been front and center in the evolution of e-commerce as the founder of multiple groundbreaking companies. He's also the author of Makeover: How Mobile Flipped the Shopping Cart. by Remarkable Retail

41 min listen

This One Goes to 11: "Great brands don't chase customers; customers chase great brands." - Gary Friedman, CEO Restoration Hardware We are on to #7 ("Memorable") in Steve's 8 Essentials of Remarkable Retail framework. Being Memorable is critical to not simply offering a slightly better version of mediocre and competing relentlessly on discounts. Done right, it is the key to long-term growth, profits and customer loyalty. In unpacking this essential we discuss how to own the "real estate of the mind," and what we mean when we talk about "experience" as something other than the latest bright shiny object. Drawing on key take-aways from Steve's book we define the six characteristics of memorable and discuss case studies that illustrate the various ways leading retailers are implementing memorable strategies including mega-brands like RH, Nordstrom, Nebraska Furniture Mart and Amazon, along with "special not big" retailers such as Franklin BBQ and Blue Star Donuts. by Remarkable Retail

30 min listen

Do Department Stores Have a Future? (Part 1) w/ Simeon Siegel and Ethan Chernovsky: This week we go deep on the future of department stores with Simeon Siegel, senior retail & ecommerce analyst at BMO Capital Markets and Ethan Chernovsky, VP of marketing at Placer.ai. Our fast-paced discussion covers a lot of territory, from how department stores have evolved, to what we mean when we talk about "department stores" today, to whether recent positive news suggests a renaissance or more of a dead count bounce. We also separate the optimists from the pessimists by dissecting the prospects for malls and particular well known retailers. by Remarkable Retail

40 min listen

Becoming a Retail Radical: “If failure is not an option then neither is success.” - Seth Godin We discuss the final component in Steve's 8 Essentials of Remarkable Retail framework: "Radical" with guests Pier Fawkes and Scott Lachut from PSFK, a leading retail experience design and innovation firm. by Remarkable Retail

44 min listen

The 6 New Forces Of The COVID Economy: This week we delve into some of the new material in Steve's expanded and completely revised 2nd Edition of Remarkable Retail: How to Win & Keep Customers in the Age of Disruption, which will be released on April 13th (see below for a special listener book offer). We dig into the effects of the pandemic and what retailers need to be doing right now to position themselves for the rebound. Steve outlines 6 major forces. by Remarkable Retail

37 min listen

The Ticking Time Bomb of eCommerce Returns: Product returns have always been part of the retail equation--and an often high cost of doing business. But over the years, free and easy returns have become a new basis of competition. As e-commerce typically brings with it return and product exchange rates 3-5 times as high as those in brick & mortar stores, the growing penetration of online shopping can create more speed bumps in the customer experience, increasing costs for retailers and real ecological challenges. by Remarkable Retail

49 min listen

Obsessed: Building A Brand People Love from Day One: This week we welcome Emily Heyward, the cofounder and chief brand officer of Red Antler as our guest to help understand what branding is all about, why it is so important and what it takes to build and sustain a remarkable brand. We discuss lessons learned from her career working with top companies such Casper, Boxed and Allbirds, and delve into the key concepts she unpacks in her recent book, including the "5 Why's", the power of focus and simplicity and the role of physical retail in creating an immersive and distinctive customer experience. by Remarkable Retail

39 min listen

AWS's Tom Litchford and the Amazon Technology Revolution: This week our special guest is Tom Litchford, Head of Worldwide Business Development for Amazon Web Services (AWS). We cover a lot of ground, touching on the key benefits of cloud-computing (turns out there are quite a few), how AWS fits into the Amazon eco-system (spoiler alert: quite nicely), why it takes a crisis for retailers to innovate (don't get us started) and why a culture of experimentation is so important. We also tackle the proverbial elephant in the room. by Remarkable Retail

37 min listen

Treat Different Customers Differently with guest Bridget Brennan, bestselling author and CEO of Female Factor: "Without data, you are just another person with an opinion.” - W. Edwards Deming We move on to the 5th Essential ("Personal") in Steve's Essentials of Remarkable Retail framework, delving into the criticality of defining our core customer (including who are offering is NOT for), why the "1 to 1 future" envisioned by Don Peppers and Martha Rogers in the mid-nineties took so long to manifest, importance realizing that no customer want to be average and what it means to be data-led. With our special guest Bridget Brennan, we explore ways deeper customer insight can help brands win, grow & keep the world's most powerful (and valuable) customers, the reason "pink is not a strategy" and why gender-balanced leadership teams and Boards are not only the right thing to do, but smart business. by Remarkable Retail

45 min listen

Behind the scenes of retail reporting with CNBC’s Lauren Thomas: This week we welcome CNBC's ace retail reporter Lauren Thomas, who talks about the journey into her current position, what her beat is all about, and the trade craft of choosing and developing stories. We also dip into what's surprised her about the retail industry and the evolving nature of consumer preferences. Lastly we discuss the challenges of understanding retailer performance as we transition into the post-COVID economy, as well as what's on her radar screen for the future. by Remarkable Retail

41 min listen

Getting to the Heart of Business with Best Buy turnaround CEO Hubert Joly: This week our very special guest is Hubert Joly, former Chairman and CEO of Best Buy, senior lecturer at Harvard Business School and the author of the just released bestselling book The Heart of Business: Leadership Principles for the Next Era of Capitalism. by Remarkable Retail

42 min listen

Get Ready for Season Two of Remarkable Retail!: Join me and my co-host Michael LeBlanc, Producer & Host of The Voice of Retail podcast, as we pivot into our second season of the Remarkable Retail podcast - this season focusing on the key strategies that will ensure retailers survive and thrive in the COVID economy and beyond. Each and every week Steve and I, along with special guests including top retailers, industry thought leaders and authors, will explore the latest retail news and themes ripped from the headlines and work to read the tea leaves and help listeners make sense out of the noise and craft winning strategies for the future. by Remarkable Retail

2 min listen

Remarkable Retail in the Land Down Under by Remarkable Retail

34 min listen

Nope, physical retail, still not dead. Not even close. Get ready for Season Three!: Nope, physical retail, still not dead. Not even close. Yet the lines between physical and digital continue to blur and it continues to get harder and harder to be the amplified signal to stand out for all the noise. by Remarkable Retail

1 min listen

Retail's Great Acceleration with guest Carl Boutet: This week the "3 Amigos of Retail" re-unite, as we welcome our special guest Carl Boutet for a discussion of "The Great Acceleration." When Carl first coined the term during Steve's virtual book launch event in April of 2020, little did we know how much it would catch on--and how prophetic it would turn out to be. Now we get a chance to discuss Carl's original thinking, how it's evolved and then dive into the highlights from his provocative new book. We dissect the "race to resilience," the key forces of the acceleration, retail's increasingly digitally-enabled future and what it might mean to live in a 50/50 physical/digital world (just don't call it "phygital"!). There's plenty of great insight and lots of lively banter. by Remarkable Retail

45 min listen

Discover this podcast and so much more

Do Department Stores Have a Future (Part 2)

Do Department Stores Have a Future (Part 2)

Description

Titles in the series (100)

More Episodes from Remarkable Retail

Related podcast episodes