Doug Stephens

The Globe and Mail interviewed me on retailers' use of in-store technology to acquire data on shoppers. I offer _opinions_ on how retailers could frame their consent statement so that shoppers see a return to sharing their data and are thus willing partners. I also warn that just because data _can be_ collected does not mean data _must be_ collected. Deloitte reported that a single data breach has an average cost of US$ 5 billion. So, companies need to think before they act. Alas, thinking is often in short supply! And then there is this romanticization of data and AI. https://lnkd.in/efB6DFKg

41

2 Comments

M.M.LaFleur & Perigold are teaming up and Modern Retail asked me why brand collaborations are important and what makes them successful. Some thoughts: - When you think about what consumers are craving, it’s really being a part of a community - When brands are purposeful, they think through what that lifestyle would be, and they give you a more holistic experience around that - When you’re more inventive about these strategy partnerships, instead of just getting them in the door to know your brand the one time, the value proposition you’re delivering is also much stronger From a strategy perspective, not only does a collaboration help save on acquisition costs but it can lead to a stickier customer. See the full piece: https://lnkd.in/erk_KuP3 Cc MG2 Design

21

2 Comments

The The FMCG Guys and I sure covered a lot in a quick 15 minutes! 🩵 A bit of background on Albertsons Media Collective and how far we’ve come … 🩵 A little slice into our #culture 🩵 A discussion on what Retail Media needs to consider as Google depreciates the 3rd party cookie. 🩵 How Brands and Retail media networks should think about expanding into #awareness channels. 🩵 How AI can be used as a tool for #retailmedia and the importance of data cleanliness and data fidelity. 🩵 Looking to Europe as to how to do in-store well.

84

3 Comments

🌟 𝗣𝗿𝗲𝘀𝗲𝗻𝘁𝗶𝗻𝗴 𝗧𝗼𝗱𝗮𝘆 𝗮𝘁 𝗥𝗲𝘁𝗮𝗶𝗹 𝗖𝗼𝘂𝗻𝗰𝗶𝗹 𝗼𝗳 𝗖𝗮𝗻𝗮𝗱𝗮 🌟 Today, I'm honoured to present alongside Chris Gardner at the Retail Council of Canada Conference, with MicroStrategy where we will discuss leveraging advanced analytics to elevate iconic Canadian brands. Advanced analytics are crucial in driving growth by facilitating data-driven decision-making processes. By analyzing consumer behaviour patterns, retailers can tailor their strategies to meet customer needs more effectively, enhancing customer satisfaction and increasing sales. Moreover, integrating predictive analytics enables companies to forecast trends accurately and adapt proactively, thereby gaining a competitive edge. Generative Artificial Intelligence (GenAI) is revolutionizing retail operations and growth strategies. This technology allows for creating highly personalized customer experiences by generating tailored content and recommendations. It can automate complex tasks, increase operational efficiency, and provide deeper insights through advanced data analysis. Retailers leveraging GenAI are not only able to optimize their supply chain management but also innovate in product development and marketing strategies. Join us to explore how these technologies are shaping the future of retail. Learn more about the event here: https://lnkd.in/gkScsiDV Loblaw Companies Limited Shoppers Drug Mart Neighbourly Pharmacy Spin Master Walmart #RCCSTORE24 #data #analytics #artificialintelligence #AI #generativeAI #keynote #speaker #consulting #careers #leadership #management ---------------------- 💥 I am Achille 🔺 Supporting you and your businesses leveraging data 🔺 Providing advisory, consultancy and keynotes specializing in Retail, Supply Chain & Construction Like this post? Want to see more? Ring the 🔔 on my profile Follow #achilleai 🔝 Connect with me

354

32 Comments

Here are my top 5 resources I love to stay up-to-date with retail in Canada and around the world: 1) Retail Insider - The best source for news on retailers entering and exiting the Canadian market. 2) The Business of Fashion - A comprehensive resource for the latest global business trends in the fashion industry. 3) Retail Council of Canada (News) - Offers valuable news, Canadian statistics, and insights into the economic pulse. 4) LinkedIn - Provides tailored updates specific to my industry, role, and professional connections. 5) My Own Eyes & Ears 👀 👂 - Last but certainly not least, I stay informed by engaging with people and business owners in my daily life. Conversations about their interests, concerns, and excitement give me a real sense of what is top of mind. What are yours??? #retailnews #retailcanada #retailtrends #top5

15

5 Comments

🌟 The Resilience of Independent Fashion Brands 🌟 In a challenging retail landscape, independent brands often struggle, yet some, like Ganni A/S, continue to flourish. In Canada, our indie fashion scene is supported by initiatives like The One of a Kind Show in Toronto (Informa Exhibitions - Canada), STACKT Market, and La Maison Simons' Fabrique 1840. These platforms allow Canadian brands and entrepreneurs to experiment and be creative, the true lifeblood of our industry. They offer opportunities for brands to break away from the data-driven constraints of mainstream retail and truly innovate. Let’s keep retail interesting and celebrate and support our indie fashion brands—champions of creativity and entrepreneurship. 🇨🇦 #IndieFashion #RetailInnovation #CanadianBrands #OneOfAKindShow #StacktMarket #Fabrique1840

4

The shopping experience in Canada sucks. As a self-proclaimed "super consumer" with a keen eye for luxury, I've been continuously disappointed by the Canadian retail landscape. While recent reports suggest growth in retail apparel sales, particularly in the luxury segment, the shopping experience itself often falls short. The number of retail store closures recently – most notably Nordstrom, has served a major blow to the already struggling retail environment. Oddly, Trendex North America claimed that retail apparel sales were growing at a faster rate than overall retail sales. The women’s apparel category grew faster than men’s and standout growth was seen in luxury apparel sales, up +10% in 2023. Two key reasons for this growth appears to be driven by a rebound in tourism and an increase in luxury stores opening across key fashion destinations such as Yorkdale and the Bloor/Yorkville stretch. The strength of the USD makes shopping Canada-side more attractive, but what about us native Torontonians looking for an exclusive shopping experience? It simply doesn’t exist. Now transparently, I am not like most consumers. I thrive on the thrill of the hunt. Finding hidden gems and luxury items at off-price retailers has become my personal shopping superpower. In fact, my passion for this niche even led me to build a thriving Instagram community in 2019, where I share my adventures with like-minded individuals (will share my secret handle if asked) 😉 The reality is that the retail environment in Canada has become extremely consolidated. Holt Renfrew, Saks 5th Avenue and to an extent, Simons are the only true destinations for luxury goods in Canada. This is not good for the consumer as it limits competition thereby reducing pricing pressure which means less enticing promotions for the end consumer. Retailers are also making safer bets when buying resulting in an experience devoid of imagination and passion that we crave. The upcoming opening of Simons at Yorkdale mall is reassuring. Their strong online curation of diverse designers and styles has me eager to see how it will translate to a physical retail experience. Perhaps this will be a catalyst for a more dynamic and exciting luxury retail environment in Canada. ******** What are your thoughts on the current state of luxury retail in Canada? Are you a fellow "treasure hunter," or do you prefer a curated shopping experience? #retail #shopping #luxury

14

6 Comments

𝐑𝐞𝐭𝐚𝐢𝐥 𝐦𝐞𝐞𝐭𝐬 𝐫𝐞𝐚𝐥 𝐥𝐢𝐟𝐞... A recent RetailWire discussion ponders whether Walmart can take on Trader Joe's with its latest private brand launch, bettergoods. My take was that the brand seemed more Target-esque (shades of Good & Gather) and that it was about time Walmart upped the ante with a "better" private brand in grocery. This weekend, I headed to the freezer to grab my new favorite plant-based ice cream only to find I was out of it. Keep in mind that 1. I'm plant-based but wasn't always. I know the standards analogs need to meet. 2. I've been hitting this ice cream several times per week. It's rich, not too sweet, with a perfect consistency, even after days in the home freezer. 😋 I started backtracking to remember where I bought it. Was it Whole Foods? Fresh Market? I remembered the bright green packaging...very "Target" - that must be it (my more frequent jaunts to Target for plant-based goods still surprise me). I wasn't completely sure so I headed to the recycle bin. Mystery solved. It was - Walmart's "bettergoods" plant-based ice cream. 😯 Well played, Walmart. Well played! ✅ 👏

7

Retailers Need A New Perspective: What If a Retail Brand Were a Piece of Clothing? How Does It Remain Appealing? Imagine if a retail brand were a piece of clothing. Over time, it would inevitably wear out in appearance and lose its fashionable appeal. To remain in business, you would have to innovate that piece of clothing in ways unimaginable. Of course, it might seem absurd to think that one brand could survive on a single piece of clothing. But what if it could learn to grow its business on that one item, becoming the best at it and increasing its sales? Expanding to other lines of clothing would then become a substantial path to survival. I strongly believe that the majority of retail brands today become out of touch within a generation. A consumer generation typically spans 15 to 20 years because by the time consumers are 35 to 40 years old, they start focusing on other challenges, such as paying off debt, family, and retirement. Therefore, unless a brand has the ability to renew and reposition itself to target the next generation, it usually becomes outdated within 20 years if it is lucky enough to last that long. To succeed in this competitive landscape, there are basic rules you learn in your first year of a marketing co-op. For example, retailing in Quebec is not the same as in Ontario, nor are British Columbia or Alberta relatable to the Maritimes or the first two. However, variances in merchandising and pricing will make little difference if a brand serves an overcrowded segment or has been impacted by disruptions it could not adapt to. These factors will have only a marginal impact on growth. But there is another critical aspect to consider. I don't believe that many brands today are creating trends in the fashion world. Full Stop! So, let’s return to the analogy that a brand is a piece of clothing. If your friends like it and it makes you feel the way you hoped, it would be aspirational, confident, and purposeful. You would wear it like a badge of honour. How many brands out there can you say are a badge of honour that you would be proud to wear? That is the question every retailer needs to ask themselves. Thanks to Susan Krashinsky Robertson for reaching out. Always great reporting. #retailing #strategy #ceo #technology #innovation #TedBaker #BroooksBrothers

8

With far more demand than supply, Hermès #Birkin bags flip economics on its head by having a resale value of ~2x the original sales price. Of course, that’s only if you can get one. Demand is so high that when a shipment of Birkins arrive to a store, they are “assigned to individual sales associates,” who must make a case for why their client “deserves a Birkin and get the store manager’s approval.” Yet another reason why I love the #fashion industry. https://lnkd.in/emtwPUnt

5

2 Comments

✨ Ring Myths Busted: Debunking Common Jewelry Myths ✨ Ever heard that engagement rings should always cost three months' salary? Or that diamonds are indestructible? 💸💎 Let's set the record straight and have a little fun while we're at it! Here are some common myths about wedding and engagement rings... busted! 🚫💍 ➡️ Myth #1: Engagement Rings Should Cost Three Months' Salary ❌ Busted! The only rule for buying an engagement ring is that it should fit within your budget and be something your partner loves. Whether it’s three months' salary or three days' worth, it’s the love that counts! ➡️ Myth #2: Diamonds Are Indestructible ❌ Busted! While diamonds are incredibly hard, they're not indestructible. They can chip or crack if hit at the right angle. So, treat that sparkle with care! ➡️ Myth #3: You Should Never Take Off Your Wedding Ring ❌ Busted! It’s perfectly fine to take off your ring when doing activities that might damage it (hello, gym enthusiasts 🏋️) or keep it clean. Your marriage won't dissolve if you take your ring off to shower! ➡️ Myth #4: Bigger Is Always Better ❌ Busted! When it comes to rings, size doesn't always matter. The perfect ring is one that holds meaning, fits your style, and feels right on your finger. Quality over quantity, folks!

3

Hate to say it but this seems like a big “nothing burger.” For a number of reasons: 1) Walmart announced something quite similar back in 2020 (https://lnkd.in/gRarmX-C) and we haven’t heard word one about it since. 2) Target already has a full functioning marketplace, so what added value does the Shopify connection really provide? Good merchants should already be finding and sourcing these products. 3) The idea that Shopify vendors can go into stores long-term is also a bridge too far. Again, if the digital marketplace and merchandising teams are functioning and coordinating properly, the infrastructure should already exist to take in new brands based on their marketplace performance and/or these brands should already be on the radar screens of the merchants deciding the stores' assortments. 4) Any new Shopify vendors that aren’t already on the Target marketplace are probably not there for a reason and also likely not ready for the prime time effort it takes to place your products wholesale in actual mass market stores throughout the country, which in Target’s case is approximately 2,000 stores, if this strategy is to have any material impact on revenue. #retail #retailing #grocery #cpg #branding #advertisingandmarketing #onlineshopping #shoppingandtheretailindustry #supplychainmanagement #fashionretail #luxuryretail #beauty https://lnkd.in/gxNf8iGY

41

10 Comments

"Generalizing is a wasted effort and it's what gets retailers in trouble with excess inventory to irrelevant product assortments." Adore this commentary from the inimitable Liza Amlani. Highly recommend it as a read. Generalization is a symptom from our over-stretch to efficiency. We are biologically attracted to efficiency as it reduces effort which burns (what were once precious) calories. We therefore seek out every way we can improve efficiency in how we make stuff, how we think, and how we do things. It has a true cost though, which is articulated beautifully by Liza. Customers aren't formed in factories, and their behaviors and preferences change all the time. Even what they say are their preferences don't always align to their actions. It's an old school way of thinking and in a world of this much data down to individual level, we can do better.

11

Hey Canada - apparel retail sales are very strong! A new report by Trendex North America, a marketing research and consulting firm, said Canadian apparel retail sales growth slowed in 2023, but certainly well exceeded the reported 2.2% in total retail sales last year. Comp ⬆6.8% in specialty apparel, meaning inflation was not keeping the consumer away. Women's apparel increased at a faster rate than menswear. Total sales $37.6 billion in 2023. The economy is resilient and solid when consumers are spending. Bank of Canada's monetary policy combined with strong federal fiscal policy in an already strong Canadian economy avoided recession and we will see more of the fruits of this labour through 2024 - 2025. "The report said the specific growth rate cannot be determined as Statistics Canada changed during 2023 its methodology for reporting apparel sales. But what can be determined by Statistics Canada’s new data set are: Apparel sales totaled C$37.6 billion in 2023; Sales in apparel specialty stores increased a strong 6.8 per cent; and Women’s apparel sales increased at a faster rate than men’s sales." https://lnkd.in/g_-YEB-4 #Retail #Apparel #Fashion #CanadianEconomy

19

According to GlobalData, the U.S. secondhand apparel market grew 11%, or seven times faster than the broader retail apparel market, to $43 billion last year. The report estimates that resale sales online and at traditional thrift stores could reach $73 billion by 2028. #resale #retail #apparel #retailsales

3

The role of the CMO has become even more critical and elevated. Technology is evolving very quickly, while at the same time, expectations are changing. A brand must stand for something — but if it stands for something employees and customers don’t like, they may reject it. Because CMOs have the closest connection to the customer, leadership teams are looking to chief marketers for guidance. What are the top takeaways for CMOs at Cannes Lions this year (and in general)? 👉 Marketers must drive not only marketing initiatives, but also broader business outcomes. 👉 Marketers must foster the agility and curiosity required to accelerate the adoption of new technologies. CMOs should ensure their teams are constantly looking for what’s around the corner and then strategically introduce new technologies. 👉 Creativity flourishes when leaders are intentional about creating rituals to keep themselves fresh and encourage their teams to do the same. What else do you think is important as we launch into the back half of 2024? https://lnkd.in/evDF28wV #CannesLions #Creativity #AI #CMO #Agility #MarTech #Marketing

17

1 Comment

In this next episode of The Brian Librach Show, we're delving into the crucial topic of allyship for women. We'll explore what might be hindering you from being a genuine ally and present six actionable ways to become a true champion for her. Firstly, we're going to address the issue of interrupting her. Secondly, we'll discuss the importance of stepping in when someone else interrupts her. Thirdly, we'll emphasize the need to actively seek her input if she doesn't initially speak up, ensuring that diverse perspectives are heard and valued within the team. Moving forward, we'll talk about the significance of giving her direct feedback without fearing her emotional response, refraining from using loaded terms like "assertive" or "aggressive" when describing behaviors. Furthermore, we'll challenge the tendency to attribute her successes to luck or others, advocating instead for recognizing her accomplishments and contributions. Lastly, we'll explore the critical role of championing, promoting, and opening doors for her advancement. In light of Mental Health Awareness Month, we'll also address anxiety in the workplace, offering strategies for effective coping mechanisms. From how you kickstart your day to incorporating movement and monitoring what enters your mind and body, we'll explore holistic approaches to managing workplace anxiety. Finally, we'll underscore the importance of recognizing your role as a role model and teacher. If you're in a leadership position but doubt your ability to embody these roles, it may be time to step aside and allow someone else to step in who can fulfill these responsibilities with conviction and integrity. Take a listen here: https://lnkd.in/eUzGsn7H If you enjoy this content, please give me a 5 star rating, share with 3 to 5 people and pick up a copy of The Retail Leaders Roadmap https://a.co/d/2qjoAZe Let’s #getupandgo Mellissa Librach RETHINK Retail YOOBIC

9

3 Comments

An article in The Business of Fashion on "Fashion's Golden Opportunity With Older Shoppers"... Is total and complete BS. There is an opportunity across ALL shoppers. Dividing them up by descriptors that have been used for decades is just not going to cut it anymore. While teaching fashion marketing at Fashion Institute of Technology last Fall, there were modules on generations and how they spend, how they consume information, etc. I had to add caveats to each statement in the textbook because you can't make these types of assumptions anymore. This is an old school way of marketing. We can't put customers into these buckets anymore as there are so many other data points to consider. The affluent customer shops at Walmart, Target and Costco Wholesale. The tech boom will go through another cycle and you will have more younger customers with disposable income. Resale luxury is bought by Gen Z to the boomer. Generalizing is a wasted effort and it's what gets retailers in trouble with excess inventory to irrelevant product assortments. The customer has evolved across generations and we need to stop generalizing to avoid marketers look at the data in just 1 way. #retail #retailnews #fashion #fashionmarketing #bof

28

7 Comments

"It’s about extending our ability to find incredible brands we believe our customers will love and introducing them to those brands at a bigger scale, without the cost of a #wholesale model.” A lot to applaud in Nordstrom's #marketplace launch (#TLDR their vision is to become "The Spotify of #Fashion") ... enabling broader, deeper assortments; building out extended sizes; making marketplace items accessible to in-store #stylists; offering tailoring and alterations; and perhaps most importantly, allowing in-store #returns for marketplace purchases. In addition, I think they should use this as an opportunity to extend beyond "#gifting, #home, and #outdoor" and build share of wallet across a broader range of products and services. For some retailers, a marketplace is a chance to try and become #TheEverythingStore. For most, however, it's an opportunity to curate a range of goods and services that are tailored to your target customer(s), without the requisite costs of setting up #fullstack teams., processes, and #OTB to support. https://lnkd.in/g9aR6sjE

1

3 Comments