The interview from this episode originally aired on The Globalist from Monocle Radio. Natalie discusses the latest global retail stories with Georgina Godwin:
Ikea’s Roblox venture: the launch of a virtual store and how Ikea has become the first brand to offer paid work on the gaming platform.
Walmart’s tech update: innovation in delivery – drones and at-home delivery – and the beta launch of a generative AI-powered shopping assistant.
Pretty Little Thing becomes the latest UK retailer to start charging for returns.
You can listen to the original episode of The Globalist Episode 3352.
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Jeremy Schwartz was the turnaround CEO of Pandora, the world’s largest jewellery company with 2,500 stores and e-commerce sites in 90 countries. Prior to that, Jeremy was Chairman and CEO of The Body Shop from 2013 to 2017. He also previously spent time at Sainsbury’s and, as Brand Director, he was the architect of the grocer’s turnaround in 2005 which saw a decade of growth after years in decline. He is the former Managing Director of L’Oréal UK and, as Innovation Director for Coca-Cola Europe, he invented Coke Zero. Jeremy is currently the Chairman of Kantar’s Sustainability Transformation Practice.
Brian Librach, former VP of Stores at Urban Outfitters, Pacific Sunwear and Old Navy, joins Natalie to discuss his new book: The Retail Leader’s Roadmap.
They explore the reasons why retail leaders get stuck, the evolution of bricks & mortar retail, and how retailers can ensure their staff are motivated and engaged.
Other topics include:
What is the future of stores and how should we be measuring success?
Which brands does Brian admire and what are they getting right?
Cultural shifts: digital transformation journeys and the importance of taking your people with you.
Upskilling and investing in digital competencies.
Squiggly careers: why the path to success isn’t always linear.
Natalie and Brian debate the key traits of winning retailers.
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Paul Wilkinson, Product Director at Deliveroo and former Tesco and Amazon exec, joins Natalie to discuss retail technology trends.
They explore the evolution of quick commerce, why Deliveroo won’t chase 15-minute delivery and moving into non-food to “bring the whole high street to the customer”.
Other topics covered include: learnings from the restaurant sector, supermarket collaboration, voice commerce and frictionless checkout.
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Have you been to Catford Mews or Peckham Levels? Then you’ll know what can be achieved by transforming disused car parks and empty retail units into vibrant, community-led, cultural hubs.
Preston Benson, founder of Really Local Group and fellow American in London, joins Natalie on the podcast to discuss:
How Really Local Group is creating and restoring cultural infrastructure by regenerating disused high street locations.
Homogenous high streets – how to inject character and make our high streets relevant for 21st century shopping.
Funflation – the Taylor Swift Effect and how cinemas will evolve in the future.
Hyper-localism, community and the importance of financial inclusivity.
Why Amazon has partnered with Odeon and what this means for smaller, community-led cinemas.
Catford Mews was RLG’s first site and they’ve since expanded into a number of locations like Ealing, Peckham, Reading and Sidcup with more venues planned throughout 2024 and beyond.
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Natalie speaks to Nigel Oddy, currently CEO of the UK and Europe’s leading golf retailer American Golf, and previously CEO of House of Fraser, New Look, Matalan and The Range.
The video version of this episode is available on YouTube and is part of a special collaboration with the Richmond Retail & E-commerce Directors’ Forum. Nigel will be speaking at the event alongside leaders from across the industry – Tesco, Charlotte Tilbury, TikTok, N Brown and more.
In this episode, Nigel gives us a sneak preview of what we’ll be discussing at the event. He shares what it was like running New Look during the pandemic, his biggest successes, what motivates him, the importance of spending time on the shop floor and why you must treat your shoppers as VIPs.
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Chris Browne, former Global Retail Director at Ted Baker, joins Natalie to discuss:
Visual AI and the opportunities for fashion retail
How tech can enhance the shopping experience
Addressing the perennial problem of returns
What Western retailers can learn from Asia
Chris’ vision for the future of the high street
Prefer video? You can also watch Natalie and Chris’ conversation on YouTube.
This episode is part of a special collaboration with the Richmond Retail & E-commerce Directors’ Forum. Chris will be speaking at the event alongside leaders from across the industry – Tesco, Charlotte Tilbury, TikTok, N Brown and more.
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After years of volatility and disruption, might 2024 bring some much-needed stability?
I’m optimistic that we are safely out of ‘permacrisis’ mode, but that doesn’t mean that 2024 will be uneventful. Technology will continue to disrupt the status quo, improving operational efficiencies and taking the customer experience to new heights. Here are 3 areas to watch:
AI: From Intrigue to Implementation
The buzz and excitement of generative AI bursting into the mainstream dominated the headlines in 2023, with ChatGPT alone reaching 100 million users within just a couple of months. But things will really begin to heat up in 2024: this will be the year of deployment. AI is no longer hype; it’s reality. We are on the cusp of another ‘smartphone moment’ where AI will disrupt every aspect of the value chain – from product development right through to consumption.
From a customer experience perspective, the holy grail of hyper-personalisation is finally within reach. AI-powered shopping assistants are not the future, they are here now. Rich, real-time, relevant experiences are rapidly becoming the norm. I’m personally excited to see how AI develops in our kitchens, helping consumers not only with meal inspiration but also reducing food waste, and also how AI-enabled virtual try-ons might help tackle the perennial problem of returns.
Tech-Enabled Human Touch
As retailers recognised the value in repurposed, tech-infused stores, the collective view on bricks and mortar shifted from ‘liability in a digital era’ to ‘top asset’. The industry’s primary goal of the past decade has been digitising our physical spaces. As we look ahead to the next decade, the focus will shift to making our digital spaces more physical, more immersive, more lifelike. We’re already seeing this with the rise of virtual try-ons, liveshopping, social commerce and virtual shopping consultations, to name a few. Mixed reality is coming. In the future, we really won’t know where the physical world ends and the digital one begins.
As e-commerce transitions from its current static, transactional state to one of multiple dimensions, physical retailers will need to ensure they are leveraging their staff to provide a unique, elevated experience. Retailers must look to technology here to help democratise concierge-level service, allowing staff to serve the customer in both an efficient and highly personalised way – that’s everything from clienteling to allowing customers to pay on the spot or swiftly collecting or returning an online order. Tech-enabled human touch will differentiate the winners from the losers in 2024.
ESG: Firmly Back on the Agenda
In recent years, progress on the ESG agenda may have been quietly stunted as both retailers and consumers prioritised cost efficiencies. However, it’s safe to say that this is one trend that is never going away, and I believe sustainability will be a top priority for retailers in 2024 and beyond.
Transparency will be a key theme this year. Consumers look to retailers to guide them in their decision-making and, with heightened awareness around both greenwashing and bluewashing, there is simply no hiding behind false claims or labels. Retailers will be judged on their authenticity. They should be striving for honesty over perfection. Retailers must have full visibility over their supply chain and be able to effectively communicate their practices and standards to consumers. I believe we’ll see greater demand for product durability and traceability around retailers’ broader circularity efforts. Increasingly, shoppers will want to align with brands whose values reflect their own.
