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The Journey to RemarkableReimagining Retail in the Age of Amazon & Digital Disruption
Steve DennisPresident, SageBerry Consulting
Forbes Senior Retail Contributor
Unprecedented number of store closings
Source: Fung Global Retail Tech
8139
5524
8201
2017 2018 2019YTD+
Record bankruptcies
Iconic retailers are struggling
It’s the end of the mall as we know it
Today1998
Topretailersover theyears
Five Critical TruthsAnd One Big Lie
Truth #1:
It’s the end of scarcity
Truth #2: Good enough no longer is.
Truth #3:
We no longer go online.
We live online.We live online.
Truth #4:The customeris the channel
Truth #5: The middle is collapsing
Source: Deloitte, “The Great Retail Bifurcation”
37%
2%
81%
0%
30%
60%
90%
5 Yr Revenue Growth
PRICE Balanced Premier-125
-25
75
175
275
Net Store Openings(Data from 2015-2017 when available)
PRICE Balanced Premier
The middle is collapsing
The Big LIe
US Retail Sales by Segment$ in Billions
2018 2019 % change% of total
2019 spending
% of 2019 growth
contribution
Brick-and-mortar $4,827.09 $4,984.12 2.0% 89.1% 55%
Ecommerce $525.69 $605.30 15.1% 10.9% 45%
- Desktop $317.55 $334.92 5.5% 6.1% 10%
- Mobile $208.13 %270.38 29.9% 4.9% 35%
Total $5,352.78 $5,529.42 3.3% 100.0% 100%
Physical retail is clearly not going away
Source: eMarketer, October 2018
Physical retail is clearly notgoing away
Source: Fung Global Retail Tech
4231
30833446
2017 2018 2019YTD+
Physical retail isn’t dead
But boringretail is.
Retail stands at a precipice
So what choice willwe make?
Choose remarkable
The 8 Essentials OfRemarkable Retail
Digitally-enabled
Human-centered
HarmonizedMemorable
MobileConnected
Personal
Radical
Harmonized
Web-influenced retail sales are nearly 3X larger than online sales
Source: Forrester Research
0
200
400
600
800
1000
1200
1400
1600
2016 2017 2018 2019 2020
Online sales Web-influenced in-store sales
$ Millions
Harmonized: One brand, many channels
Memorable
Be unique
Be intensely relevant
Be authentic
Amplify the “wow”
Radical
I F F A I L U R E I S N O T
AN OPTION,T H E N N E I T H E R I S
SUCCESSS E T H G O D I N
T E S T A N D L E A R N .
CULTURE OF EXPERIMENTATION
T H E B E S T T I M E T O
PLANTA T R E E W A S 2 0 Y E A R S A G O .
T H E S E C O N D B E S T T I M E I S
NOW- C H I N E S E P R O V E R B
REMARKABLE RETAIL:How to Win--and Keep--Customers in the Age of Amazon & Digital Disruption (Spring 2020)
