Take-aways from from NRF’s Retail BIG Show, January, 2013, including: - showrooming must be embraced - brick and mortar isn't dead - organizational silos are hindering progress Learn more: http://deniseleeyohn.com

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9 Retail Tenets
for 2013
Take-Aways from NRF’s Retail BIG Show
January, 2013
New York City
Retail Tenets for 2013 • by denise lee yohn

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Retail Tenets for 2013 • by denise lee yohn

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-- Sucharita Mulpuru, Vice President and
Principal Analyst, Forrester Research
 According to Forrester
Research,
◦ online has grown to 9% of
In the digital
retail sales and is projected to world, our brand can
generate $327 billion in sales be much bigger than
in 2016 our footprint.
 According to Shop.org, Wherever [our
◦ 270MM people shopped in customer] is, we’ll be
2012 holiday season there.
– Thomas Belk, Chairman and
◦ 129MM shopped on Cyber CEO, Belk, Inc.
Monday
Retail Tenets for 2013 • by denise lee yohn

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Retail Tenets for 2013 • by denise lee yohn

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-- Jill Puleri, VP, Global Industry
Leader - Retail, Global
Business Services, IBM
 According to Whale  Forrester Research
Shark Media, predicts
◦ there’s been a 51.9% ◦ the $5.5 billion spent in
growth in time spent on retail
mobile (media, CE, apparel)
mobile commerce in 2012
to grow to $24.5 in 2017
Retail Tenets for 2013 • by denise lee yohn

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Mobile is no longer just
a channel. It’s not a
one-way pipeline of
Capability in new
content to consumers –
areas, particularly
it is an intrinsic part of
mobile, is mission
consumer behavior.
-- Susan Jurevics, SVP, Global Retail CRM critical. It can’t be an
and Brand Marketing, Sony Corporation of
America afterthought. We must
invest in it to get ahead
of the technology and
the growth curve.
– Howard Schultz, Chairman and
CEO, Starbucks Corporation
Retail Tenets for 2013 • by denise lee yohn

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Retail Tenets for 2013 • by denise lee yohn

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-- Joe Magnacca, President, Daily Living
Products and Solutions, Walgreens
 According to Forrester
Research,
Showroomers don’t end
◦ 37% of smart phone owners
at the sale – they’re
plan to showroom more in
the future active consumers. 58%
visit online communities
◦ 47% of men aged 18-34 plan
to show room more
1+/day and half write
reviews (positive ones.)
◦ so, you need to have a price
They’re not your enemy.
matching strategy -- Jill Puleri, VP, Global Industry Leader -
Retail, Global Business Services, IBM
◦ and we will see more UPP
(unilateral pricing policies)
Retail Tenets for 2013 • by denise lee yohn

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Retail Tenets for 2013 • by denise lee yohn

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CEOs are pushing for
company-wide digital
strategy, but digital Channel blur:
departments still often Consumers are going
operate to force you to match
independently. prices online. Online
-- Vicki Cantrell, Shop.org Executive
Director and NRF Senior Vice President of
and in-store
Communities merchandising groups
are going to have to
talk, compare
notes, require
coordination.
– Cotter Cunningham, CEO, WhaleShark
Media
Retail Tenets for 2013 • by denise lee yohn

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Retail Tenets for 2013 • by denise lee yohn

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-- Kip Tindell, Chairman &
CEO, The Container Store
The world needs a lot
of care and
compassion and This [retail] industry is
business is singularly the greatest engine of
positioned to deliver growth in the U.S.
on that. today. We offer
– Walter Robb, Co-Chief Executive
Officer, Whole Foods
hope, opportunity, and
career progression.
– Bill Simon, CEO, Walmart
Retail Tenets for 2013 • by denise lee yohn

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-- Walter Robb, Co-Chief
Executive Officer, Whole Foods
Retailers shouldn’t just
produce for the middle
and upper classes; If we’re waiting on
“the third world is government, we’re
waiting for retail.” waiting on a process
– Kofi Annan, Former Secretary-General of
the United Nations
that can’t act with the
same speed as
business.
– Bill Simon, CEO, Walmart
Retail Tenets for 2013 • by denise lee yohn

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Retail Tenets for 2013 • by denise lee yohn

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--Tom Feltenstein, CEO/Founder of Tom
Feltenstein's Power Marketing Academy
If content is
king, culture is
checkmate – you need Think of labor not as a
the right people within unit cost, but as truly
the company on the the heart and soul of
bus. business.
– Eric Qualman, author of Socialnomics
– Walter Robb, Co-Chief Executive
Officer, Whole Foods
Retail Tenets for 2013 • by denise lee yohn

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Excellence is
tremendous amount of
fun; mediocrity is not. The most important
People really want to brand building tool of
work with great people all is the ability to
and achieve great inspire our people –
things. not only about what
-- Kip Tindell, Chairman & CEO, The
we’re doing but
Container Store why, and getting them
to exceed
expectations in way
that’s authentic and
real.
– Howard Schultz, Chairman and
CEO, Starbucks Corporation
Retail Tenets for 2013 • by denise lee yohn

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Retail Tenets for 2013 • by denise lee yohn

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“The market” is more
than the consumer – it
Shared Conversation
includes
concept: The
employees, customers
conversation is owned
, distributors, etc. All by
vote and shape our consumers, peers, retail
brand everyday. This ers, and countless
requires new ways of influencers, bloggers, st
working together ylists, media critics and
against shared value. more.
– Allison Lewis, Senior Vice -- Susan Jurevics, SVP, Global Retail CRM
President, Marketing, North America and Brand Marketing, Sony Corporation of
Division, The Coca-Cola Company America
Retail Tenets for 2013 • by denise lee yohn

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The opportunity is to
become more of who
are you and realize
When you operate with your full potential.
this stakeholder Many businesses aren’t
view, the universe exploring the full
conspires to assist you. potential of their
-- Kip Tindell, Chairman & CEO, The
connections with
Container Store stakeholders.
– Walter Robb, Co-Chief Executive
Officer, Whole Foods
Retail Tenets for 2013 • by denise lee yohn

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Retail Tenets for 2013 • by denise lee yohn

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Relentless innovation will continue:
flash sales  daily deals  subscriptions 
curated commerce / distributed
commerce / crowdsourcing commerce
-- Sucharita Mulpuru, Vice President and Principal Analyst, Forrester Research
Any business that embraces business
as status quo…is literally facing a
collision course with time.
– Howard Schultz, Chairman and CEO, Starbucks Corporation
Retail Tenets for 2013 • by denise lee yohn

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Capitalism
re-imagined:
It has never been more
Reimagine what is important to push for
possible with business. innovation at every
There is nothing more level – we must do
powerful than the everything to push for
imagination and self
creativity of individual renewal, reinvention, a
team members. new level of surprise
– Walter Robb, Co-Chief Executive and delight with our
Officer, Whole Foods
customers.
– Howard Schultz, Chairman and
CEO, Starbucks Corporation
Retail Tenets for 2013 • by denise lee yohn

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Retail Tenets for 2013 • by denise lee yohn

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– Walter Robb, Co-Chief Executive
Officer, Whole Foods
Physical retail still has a
lot of promising stories
that will continue to Your customer
grow and drive industry engagements will be
in the future. your “30-second
-- Sucharita Mulpuru, Vice President and
Principal Analyst, Forrester Research
spots.”
--Tom Feltenstein, CEO/Founder of Tom
Feltenstein's Power Marketing Academy
Retail Tenets for 2013 • by denise lee yohn

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more on retail:
 the retail organization of the future
 six best practices in retail
 brand experience briefs (video briefings on new and interesting restaurant
and retail concepts)
 build your brand with a cohesive customer experience
denise lee yohn
http://deniseleeyohn.com
@deniseleeyohn
Retail Tenets for 2013 • by denise lee yohn