Is 2023 the Year of the Store?
It is according to renowned retail guru Carol Spieckerman, who made just that case during her insightful presentation, “10 Transformational Trajectories,” at Miller Zell last week.
Spieckerman, a retail analyst and B2B strategist who is well-known for her excellent podcast, said understanding the future of retail hinges on a “fundamental truth.”
“Going forward, your biggest opportunities will be unlocked through platform building, platform partnerships and platform monetization,” she said.
It’s about leveraging technology, data and customer insights as owned assets and determining when strategic alliances provide a competitive advantage. The digital reinvention of brick and mortar is well underway, and convenience and choice are table stakes.
So what’s an innovative and purposeful approach for the Year of the Store?
Key moments from the video
14:32 The burning question: Buy, build or bridge?
20:30 Solutions and services are retail’s new profit centers
23:22 Prepare for sustainability’s second act
25:45 Mad for ads: The rise of retail media networks
29:45 Brands everywhere… all at once
35:55 Livestream shopping & social commerce emerge in U.S.
37:05 Optimize content’s three Ms: Mix, media and message
38:05 Empowered retailers are shaping consumer behavior (not just reacting to it)