Do you remember the term "information superhighway?" In the early to late 1990s it was the go-to expression used by every journalist, techno-geek and politician to explain the speed at which data was transmitted over the web. However, the high-speed chase is accelerating with the advent of 5G technology, the designation for the 5th generation of mobile communication that could bring enormous benefits to retailing -or the biggest headache since you tried explaining the internet to your grandmother. Digital Revolution At its most ambitious, …
Waste Not, Not Wasting Time
I think the time is right to declare a national emergency. This isn't about some perceived or imagined threat at the Southern border, North of the 38th parallel or in the deep, dark recesses of the Kremlin. But it is a crisis of global proportions-the escalating amount of waste generated by food and packaging that's clogging oceans and landfills that are barely able to contain it. For decades, the solid waste issue was the purview of environmental guerrillas, roving bands of treehuggers or anyone running for office in a deep blue state. …
Bridging the New Generation Gap
The good news is that Americans are living and working longer. The bad news is that Americans are living and working longer. What seems to be a clear-cut contradiction could lead to internal strife as multiple generations with different aspirations and goals are thrown together into a single work environment. This is becoming an increasingly complex situation with as many as four different generations in the workforce for the first time in history: Boomers, Gen X, millennials and the Linkster Gen Z (18 percent of the world's population). …
Surviving Retail Partnerships
Amazon chairman Jeff Bezos was once asked about what he wanted in a relationship; he replied: "I wanted a woman who could get me out of a Third World prison. Life's too short to hang out with people who aren't resourceful." Some might see that as a rather unromantic attitude - not to mention pragmatic. Nonetheless desiring a resourceful partner reflects the essence of strategic partnerships in retailing-joining forces to expand and protect the business from the competitive hordes. In today's marketplace populated by smart and savvy …
Rise of the Machines
In 350 BC, a Greek mathematician named Archytas created the first robot, a wooden dove that flew 650 feet. In 1495, Leonardo Da Vinci is said to have built an armored robot with inner workings. In 1966, The Stanford Research Institute developed Shakey, which looked something like a stripped-down ATM and the first robot to incorporate logic and reasoning-a precursor to AI. From these and many other rudimentary beginnings evolved a fascination with robots and robotics that has sparked the imagination of scientists, industrialists and, of …
What’s in a Name?
For those of us in the old-world economy, we might long for the "good old days" when hiring was a relatively easy, decidedly non-tech process in retail. It may not be modern, but all we had to do was find: Warm bodies with a heartbeat to show up on time and stock the shelves. Cashiers who wouldn't steal from the till. Store managers who knew how to ride herd on everyone else. Executives who grew up in the business and had good, old-fashioned instincts; or graduate-degree Ivy Leaguers who used the right buzzwords on their curricula …
Silver Dollars
A silver tsunami is rolling through the retail business. But is anyone really watching? This stormfront represents the growing army of 65+ consumers in urban, suburban and rural areas who are not only internet savvy, but also love shopping at stores for convenience and as a social and recreational event. The problem is that many in retailing have a perceived generational bias, focusing their efforts on capturing the much discussed and perhaps overhyped millennial segment, along with Gen Z customers, the latter are still living at home and …
The New Drug Cartel
When I was 12 years old I got my first job working at the corner drug store, stocking shelves and making deliveries. After a few months the owner trusted me enough to work the cash register and - believe it or not - fill prescriptions with the pharmacist looking over my shoulder. My second job was for a bigger drug store that eventually put the first one out of business. Sometime after that I left drug store retailing in the rear view and never looked back - at least as far as employment was concerned. That was probably a good decision …