National Retail Federation
Retail's BIG Show
January 15-17-2017
PANO ANTHOS, Founder and Managing Director, XRC Labs
LESLIE COHEN, Executive Director, XRC Labs
JOE BENINATO, Founder and CEO, Banter
ALEXA FLEISCHMAN, CEO, Strypes
ERIK SKANTZE, Co-Founder and CEO, Perseus Mirrors
LIYIA WU, Founder and CEO, ShopShops
A look ahead to 2023: Impasse or opportunity for a new path
Retail's BIG Fast Track - Retail at the Speed of Disruption
1. Retail's BIG Fast Track - Retail at the
Speed of Disruption
PANO ANTHOS, Founder and Managing Director, XRC Labs
LESLIE COHEN, Executive Director, XRC Labs
JOE BENINATO, Founder and CEO, Banter
ALEXA FLEISCHMAN, CEO, Strypes
ERIK SKANTZE, Co-Founder and CEO, Perseus Mirrors
LIYIA WU, Founder and CEO, ShopShops
2.
3. The Need for Speed:
Accelerating Retail Today
Pano Anthos
Managing Director, XRC Labs
4. WALL STREET IS NOT HAPPY!!!!
4
0.
20.
40.
60.
80.
100.
120.
140.
160.
BEST BUY JCPenney KOHL'S macy's NORDSTROM sears TARGET Walmart amazon
BRICK & MORTAR RETAILER MARKET VALUE (2006*
VS. TODAY)
Market Value 2006 (Bn) Market Value Today (Bn)
Source: Yahoo Finance
*Peak Market Value 2006
360
340
220
200
180
60
40
20
0
(49%)
1,910%
(83%) (59%) (46%)
(21%)
(95%)
(15%)
2%
BRICK & MORTAR RETAILER MARKET VALUE (2006* VS. TODAY)
5. THE STREAMS HAVE CROSSED
Credit: NRF
6%
44%
94%
40%
0
20
40
60
80
100
Consumer Shopping Over Thanksgiving
Weekend 2009 vs 2016 (Percent)
Online
In-Store
2009 2016
Technology increased, retail can be stagnant
This is a controversial point here. Has retail changed much?
User behavior – same
User technology provided by store – same
Transition – contrasting the retail landscape with the technology world
Tony — lets get the mentions of the Amazon go video — I know it was on the Late, Late Show monologue. Maybe the # of social mentions, shares, video views
Where retail should good
To the customer – the most valuable commodity is Time. No one has more of it than anyone else.
Tony —i want to convey that stores need to go to the consumer and not the consumer to the store.
Tony —i want to convey that stores need to go to the consumer and not the consumer to the store.
TONY — Lets remove the right hand image behind the starbucks logo
Store as Experience should be an engagement vehicle. We used to consider shopping an entertainment activity. BUT NOT AS A GIMMICK. ((NO storyline))
The experience should be an extension of the brand or category.
So if you are selling housewares or china, what are you doing to educate the customer on the social skills that used to be taught in schools?
Housewares university? Are you giving me an experience that extends my understanding or appreciation of the product category.
Does your retail experience tell a story that entertains or informs the consumer? It could be at the consumer usage level (how to throw a party) or it could be the impact that a given set of china has on a small village in France and the history behind that china manufacturer.
Tony — lets get a image that fits our page.
Tony —i want to convey that stores need to go to the consumer and not the consumer to the store.
The largest store in the world with the smallest physical footprint is the Apple ITunes Store. Most popular apps are what eople buy.
What distinguishes them from not just a physical retail store but other digital stores in the past?
Overall across category
Top sellers – I as a consumer understand what is selling the best right now. Could you imagine being able to capture micro-trends or daily trends that pull the consumer toward or away from that purchase.
Recommended
New to the store –
All time Rankings
Millennials don’t want to own things.
Many people don’t want to own things
Leasing cars & renting ski equpment renting camping equipment, toys?
**RENTAL MARKET
How often have you bought stuff only to send it to goodwill or your local religious help drive?
Our velocity of change is creating a force obsolesence that has a number of harmful effects:
Causes us to purchase more than we need – results in a backlash of overconsumption
Note the small movement (houses, etc.)
Causes us to pollute more than we should
Fast fashion – throwaway stuff fills our landfills with materials that don’t deterioriate
Sharing Economy. --((Barter system))
Can you combine 15 and 16?
retail as a platform than a store
We take risks
We expect some companies will fail
We share, share, share
We learn from the young