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Retail's Escalating Commitment to a Failing Course of Action

Retail's Escalating Commitment to a Failing Course of Action

FromRemarkable Retail


Retail's Escalating Commitment to a Failing Course of Action

FromRemarkable Retail

ratings:
Length:
39 minutes
Released:
Sep 5, 2023
Format:
Podcast episode

Description

The retail graveyard is already filled with brands that failed to transform for the new age of retail and many household names (JC Penney, Gap, Macy's, and more) are edging ever closer to the precipice. Despite the profound shifts in retail during the past decades, these iconic brands continue to fall prey to "The Innovator's Dilemma," choosing to double down on what is very clearly a losing hand.In this episode we explore why so many organizations have allowed a huge gap to grow between how remarkable they need to be and how fast they need to change. We unpack how ego, ignorance, and fear often hinder necessary progress and propose a leadership mind shift that is required to transform at the speed of disruption. We even tease some content from Steve's new book.But we start with our hot-takes on recent retail news, dipping into a slew of quarterly earnings, which were generally pretty tepid (notable exceptions included Lululemon and Ulta) and featured quite a lot of downward guidance and calling out of "shrinkage." We discuss the re-emergence of IPO fever (which includes the revelation that Instacart is really in the media business), explore why Madison Read is taking the "D" out of DTC, and discuss what to make of Shein partnering up with Forever 21. We conclude a discussion of growing pushes to get employees back to the office.Interviews discussed in this episode:Dave Kimbell Joe Kudla   About UsSteve Dennis is a strategic advisor, keynote speaker, and bestselling author of focused on growth, innovation, and the impact of digital disruption. He is widely considered one of the foremost and influential voices in the retail industry. You can learn more about Steve on his  website.  His #1 bestselling book Remarkable Retail: How To Win & Keep Customers in the Age of Disruption is available at  Amazon or just about anywhere else books are sold. Steve regularly shares his insights in his role as a Forbes senior contributor and on Twitter and LinkedIn. You can also check out his speaker "sizzle" reel here.Michael LeBlanc  is the Founder & President of M.E. LeBlanc & Company Inc and a Senior Advisor to Retail Council of Canada as part of his advisory and consulting practice.   He brings 25+ years of brand/retail/marketing & eCommerce leadership experience, and has been on the front lines of retail industry change for his entire career.  Michael is the producer and host of a network of leading podcasts including Canada’s top retail industry podcast,       The Voice of Retail, plus  Global eCommerce Leaders podcast, and The Food Professor  with Dr. Sylvain Charlebois.    You can learn more about Michael   here  or on     LinkedIn. Be sure and check out Michael's latest venture for fun and influencer riches - Last Request Barbecue,  his YouTube BBQ cooking channel!
Released:
Sep 5, 2023
Format:
Podcast episode

Titles in the series (100)

If you think the last few years of the COVID era was a wild ride, buckle up buttercup, things are only going to get tougher as retailers face escalating competition and increasing macroeconomic headwinds. In an era where even very good is no longer good enough, to rise above the rest our only choice is to choose to be remarkable. And making this remarkable mind shift requires that we aim higher, act more boldly and move much faster. 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 recent best-selling book "Remarkable Retail: How to Win & Keep Customers in the Age of Disruption." Join me and my co-host Michael LeBlanc, Producer & Host of The Voice of Retail podcast, The Food Professor podcast and the Conversation with CommerceNext podcast as we explore the evolution of modern retail. Along with special guests, including top retailers and industry thought leaders, we'll explore the latest events within the retail industry and beyond for a lively and interactive journey to Remarkable Retail. Presented by MarketDial. © 2020-2022 M.E. LeBlanc & Company Inc. All Rights Reserved.