Retail Reset Why physical stores are still the key to the future

by Lara, Luis; Gimeno, Dimas

• ISBN13: 9781911687344
• ISBN10: 1911687344
• Format: Paperback
• Copyright: 2023-07-04
• Publisher: INGRAM
• More Book Details

Summary

New consumer trends, the over-supply of brands, products and services, digital acceleration, market fragmentation, new disruptive businesses/models, and the growth of large e-commerce platforms - these have all combined to cause a paradigm shift in commercial distribution. Distribution channels like multi-brand stores, chain stores, shopping centres and department stores will remain relevant with consumers but if they are to survive, they will have to undergo a complete reset. In this book, two leading figures from retail explain how the structural changes taking place today will affect each retail channel.

They explore strategies to promote the rebirth of the retail sector and the companies that operate within it. This reset is based on enhancing the emotional connections with consumers (through memorable content and experiences) so that stores will surprise again. Moreover, it rests on integrating the physical and digital so that shopping, whether online or offline, becomes a connected and singular experience. Ultimately, physical stores remain important for the future of retail and distribution because they offer a live experience and the kind of person-to-person experience that cannot be matched online. However, consumer expectations and behaviour have changed, and the stores of the future will have to transform to keep attracting their attention.

Author Biography

Luis Lara is the Managing Partner of Retalent, a growth strategy consultancy. Both are based in Madrid, Spain. Dimas Gimeno is the former CEO of El Corte Ingles. Today, he is Executive President of WOW, a new retail and lifestyle concept recently opened in Madrid.