In the Post-Covid World, Every Retailer Needs to Find Its “Essential”

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As in Dicken's Tale of Two Cities, when we write the story of retail in 2020 it is going to be the best of times for one group of retailers - those deemed essential - and the worst of times for others - non-essential retailers. Two new studies, one from IBM projecting retail through year-end and another from UBS looking out to 2025, tell the tale of the best and worst to come. Retail's Uneven Bounceback Overall, IBM has good news to report: 2020 should end with retail down only three percent, excluding auto-related and food services. "The …

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For Whom the Retail Bell Tolls

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Recent news headline: Retail CEO announces that luxe retail is the new normal. Another recent news headline: Real estate empresario comments on how overbuilt and expensive New York City has become. We were, of course, shocked to learn that real estate was expensive here. Any fair-minded observer can be forgiven a moment of disgust as these particular twin revisionist rationales work to fling more pixie dust on the legitimate question we face, Whither retail reality? Ghost Town It's not all Covid all the time. Think of the forced march to …

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Best-Selling Product Categories of Conscious Capitalism

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Need something to restore your faith in humanity during this time of global chaos? You might be surprised to learn that data from research firms such as Accenture and McKinsey points to a rise in conscious consumption during Covid. In fact, McKinsey reports that concerns such as “how companies take care of the health and safety of their employees” and “sustainable/eco-friendly products” have reached all-time highs in the U.S. and/or Europe. This is happening on both a consumer and personal level. Individuals are gravitating towards concerns …

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Is Experience Worth Investing In?

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Many of the newly launched retail experience formats we celebrated at the beginning of 2020 have been shuttered by the pandemic, leaving the industry to question how to deliver experiences that align with consumers' Covid-19 evoked emotions. With social gatherings off the table for now, how can brands, retailers and mall operators respond to desired social connections in a no-touch world? The Consumer Mindset Navigating the global health crisis "stay at home" directive has been extremely stressful, especially for those in urban areas. Initial …

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Fashion Retail: Completely Derailed or Ready to Be Reinvented?

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There are only a few fashion capitals in the world, and they all paint a stark picture for the future of retail worldwide. From New York, London, and Paris to Milan and Tokyo, retailers are searching for relevance as consumers learn to live with the reality of Covid-19. Whether reeling from a pandemic-induced slump or ramping up for a recovery, fashion retailers face a new set of consumer sensitivities and preferences. Everyday moments such as visiting the local mall, dining inside restaurants, socializing over coffee and heading to the gym …

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Musings: Post-Pan Beauty and Culture

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As a high school junior, I got invited to a Spring Prom at a fancy private school in Wellesley, Massachusetts by a girl I barely knew. I rented a tuxedo with a Spring-white dinner jacket. It was a hot May night, and there were lots of slow dances. At the end of the evening I had lipstick on my cheek and a dark brown stain on the right side of my white dinner jacket where her makeup had rubbed off. The Tuxedo rental place charged me $25 to remove the stain when I tried to return the outfit. It was my first introduction to makeup and its …

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Why (Most) Brands Can’t Just Go It Alone

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Last month, retail analysts at UBS further reduced their ratings for department stores. They declared that it was time for brands, particularly those with premium positioning, to "go it alone" rather than selling through third-party channels like department stores. The analysts also argue that brands can no longer rely on malls to generate walk-by traffic that leads to sales. Instead, they wrote, "Brands have to generate their own audiences and become destinations." There are certainly good reasons for brands to rethink their distribution …

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“Anchors Away” Foot Locker: Full Power into the Neighborhood

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In a sentence: Is Foot Locker possibly shedding its mall anchors and accelerating the rollout of its neighborhood Power Stores? For what reason? To escape antiquated malls? To get closer to its consumers? To personalize and localize the brand by becoming a part of, and contributing value to their communities? To create experiences that are cool and awesome to their sneaker culture? Try all of the above. Survival of the Fittest Prior to the pandemic, many experts were predicting that roughly two-thirds of the 1200 major malls in the U.S. would …

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