Last week Macy's announced it had acquired Story, a New York-based concept store, and appointed founder Rachel Shechtman to be its new "brand experience officer." And, for the most part, enthusiastic gushing ensued. Let's simmer down, people. As I regularly write and speak on retailers' need to innovate and embrace a culture of experimentation, I would be a complete hypocrite if … Continue reading Macy’s acquires Story: Game changer or much ado about nothing?
Since I anticipate being labeled a Luddite, a Socialist and a hypocrite by some, let me acknowledge that I firmly believe that Amazon has done a lot of good for consumers by expanding choice, making shopping far more convenient and by delivering extraordinary product value. I recognize that many retailers were long overdue for a swift … Continue reading Assessing The Damage Of ‘The Amazon Effect’
In a surprise move that underscores the sweeping changes faced by the retail industry, the National Retail Federation, speaking on behalf of all of its members, announced today that every brick & mortar location of every retailer in the United States would close forever within the next few weeks. For nearly a decade "traditional" retailers have … Continue reading Every Single Retail Store in the US To Close Permanently By Month’s End
The results keep pouring in and they don't bode well for brick & mortar retail. Across just about every sector and virtually every time period, traffic to physical stores continues to decline. Of course, for the most part, we aren't buying less, we are shopping differently. The obvious dominant trend is the explosion of e-commerce, … Continue reading What if retail traffic declines last forever?
Given Amazon's staggering growth and willingness to lose money to grab market share it's easy to blame them for everything that is ailing "traditional" retail overall--and the department store sector in particular. In fact, with announcements last week from Macy's to Kohl's and Sears to JC Penney that could only charitably be called "disappointing" many … Continue reading Stop blaming Amazon for department store woes