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Retail's Escalating Commitment to a Failing Course of Action
Retail's Escalating Commitment to a Failing Course of Action
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)
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