We live in a commercial culture increasingly transforming itself into an endless series of stories. Disneyland/World. Universal. Woof Meow. Harry Potter World. Those are the real-world entertainment stories. And then there’s the virtual: Roblox, Minecraft, Mortal Kombat. And the social: Instagram, TikTok, Facebook, Match.com. Don’t ever underestimate the power of a story to empower, engage, aspire and, unfortunately, enrage. We are wired to tell and listen to stories. We’ve progressed from circling the campfire to startlingly realistic …
Opinion
Retail Is the Metaphor for This Moment
Recently was invited to cover a major retail industry event in São Paulo, Brazil entitled Expo Magalu – a one-day extravaganza that brought together, virtually and in-person, over 15,000 small and medium-sized independent retailers for a day of discussion about how to transform traditional brick-and-mortar businesses into omnichannel sellers with a significant ecommerce presence. The array of educational and networking sessions focused on next-generation logistics, payments, online store building, and a host of other related issues – even a …
Amazon’s Non-Department Store Launch
Is this Amazon’s breakout retail moment? After testing various retail formats, with some “keepers,” they plan to launch what “is akin” to department stores, according to a Wall Street Journal article. So, I have to ask, is this just another experiment? Or are they going all in, having learned enough about retailing from their test models to plow right into the sector that has been under siege for decades, steadily losing share of market to the luxury space, off-pricers, outlet stores, specialists, including fast fashion, and most recently to …
Victoria’s Secret: Too Little Too Late
In 2018 after three years of a steady decline in Victoria’s Secret’s share of market (from 32 percent in 2015 to 21 percent in 2020, according to Euromonitor International), a great awakening occurred among the brand’s leadership. Modern young women had zero interest in trying to emulate the brand’s sexy Angels or wearing soft-porn lingerie to appeal to a male fantasy. Comfortable in their own bodies, whatever their shape may be, they seek natural, authentic and honest products. While a consistent decline in share of market alone should have …
New York City Retail is Flailing
On June 22, New York City Democrats and Republicans will head to the polls in the primary election to select their candidates for Mayor. The current mix of candidates – eight Democrats and two Republicans – represents a diverse mix of personalities that largely mirrors the ethnic, religious, and socio-economic mélange that is New York City. And although some may think that in a city where Democrats outnumber Republicans nearly 7-to-1 it is a foregone conclusion that the winner of the Democratic primary will eventually become win the November …
ABG, SPARC and JCP Fading Into The Sunset
Great brands don’t die, they just fade away. And where do they go to expire? Authentic Brands Group, of course. Talk about rolling up a bunch of losers in fading-away mode: ABG partnered with another fade-away, Simon Properties (creating SPARC – Simon Properties Authentic Brands Retail Concepts). Now CEO David Simon is talking about putting ABG’s dying brands into an even more impressive fadeout: JC Penney. That deal with the ABG brands may indeed be an anchor (but of the reverse kind from what it used to mean) that will take the entire …
SPARC: A Losing Combo
SPARC: Maybe this acronym for the Simon Property Authentic Brands Retail Concepts was purposely crafted to send a message that many of the withering Simon Properties’ malls, co-owning and leasing spaces to many of the stale and losing brands in the Authentic Brands portfolio, would spark new life into both. I wrote about Simon and Brookfield’s acquisition of the dying JC Penney, Too Big to Fail stating that it was a short-term move to save Simon’s and Brookfield’s butts from a massive exit of not just JCP but also the hundreds of other …
Eat Your Credit Card
What would it take to get you to eat a credit card every week for an indeterminate amount of time? Answer: You’re already doing this voluntarily. When I first heard that there was a massive chunk of plastic in the Pacific Ocean twice the size of Texas and three times the size of France called the Great Pacific Garbage Patch, (GPGP), it blew my mind. But that concept is so abstract I just can’t get an in-my-face, personal feeling or tactile sensation. So, it eventually ends up in a part of my brain where I compartmentalize all the horrible …