The future of retail seems pretty uncertain right now. Many of us are left wondering how things will look at the end of this crisis. What will happen to the physical shop and the customers that frequent it. Whenever we consider the future, it can be pretty murky. Today we get some clarity and direction on what the future holds for our businesses and what we can do to prepare for it.
I am very pleased to welcome to the show, Doug Stephens, CEO of Retail Prophet!
Doug Stephens is one of the world’s foremost retail industry futurists. His intellectual work and thinking has influenced many of the most widely known international retailers, agencies and brands. Prior to founding the consultancy Retail Prophet, Doug spent over 20 years in the retail industry, holding senior international leadership roles.
Doug is also the author of two International bestselling books – Reengineering Retail:The Future of Selling in a Post-Digital Worldand The Retail Revival: Re-Imagining Business for the New Age of Consumerism. Doug is also the nationally syndicated retail columnist for CBC Radio and sits on multiple corporate and academic advisory boards. His unique perspectives on retailing, business and consumer behavior have been featured in many of the world’s leading publications and media outlets including The New York Times, The BBC, TechCrunch, The Wall Street Journal and Fast Company.
In our s=discussion today we are going to be discussing a wide variety of topics related to the future of retail. All of this is hugely instructive and clarifying in a time when we need it the most.
We will cover:
- What is changing for the physical store?
- How will online and digital influence consumers?
- The value of experience
- Luxury experience vs utility experience
- The human craving for social experiences
- Consumer reactions to crisis
- How to create great experiences through tech
- Connection between crisis and creativity
- The opportunity we have in this moment
- Branding vs advertising
- Mistakes to avoid making
I hope you find this episode helpful!
Links:
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