Tag Archives | retail

Retail Roundtable: Can Brick-and-Mortar Thrive in an Omnichannel World?

These are dark days for many retailers, especially those brick-and-mortar stores that are losing store traffic and market share to aggressive ecommerce retailers.

By some accounts, as many as two-dozen major U.S.-based retailers are in danger of bankruptcy due to poor credit ratings. More than 3,500 stores – and counting – have closed thus far in 2017. And countless malls and shopping centers are facing vacancy rates that dwarf those of the Great Recession of 2008.

Is the ecommerce tsunami ushering in a sea change for traditional retailers? Or is the brick-and-mortar environment simply experiencing a natural evolution, which will sacrifice weaker players and leave stronger, innovative, omnichannel companies poised for long-term success?

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The Retail World Is Flatter Than Ever

I love to people-watch and walk a city observing the culture. After recently visiting Madrid, what I see has become much more similar to what I see in the U.S. The phones, fashions and cosmetics and even the size of cars are becoming more and more similar. Sue Whitely, U.K. managing director of Louis Vuitton, was quoted in LS:N in a trend report saying, “You have to be global in reach yet quintessentially local in terms of communications, image, service — everything.” 

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