[ 2:40-3:48 ] Why new and smart DTC brands became household names during a pandemic
When the pandemic first hit, the smart brands acted instead of stepping back. They recognized that they had an audience sitting at home and browsing online. A lot of the direct-to-consumer brands that had not been well-known at all rose to prominence. Surprisingly, the retailers with more funds and a stronger brand were the ones that froze, waiting to see what was next instead of responding immediately. In retail, waiting is never an option.
[ 4:23-5:17 ] Retailers need to let the ideas in the innovations.
Retailers need to get off airplanes and get in-store. For some reason, retailers still think all of the innovation happens in a boardroom. The truth is that it happens when you have a chance to observe your own store operations. We all know what a good customer experience looks and feels like. We've all been on the receiving end of a terrible customer experience. It's time for executives to get off Zoom calls and experience their brand first-hand. Only then can they drive real change.
[ 12:15-15:05 ] What are the technologies retailers are embracing
20 years ago, we were separating catalog customers in a different database. We're still doing that by keeping online and offline departments separate.eCommerce and brick-and-mortar professionals don't communicate as they should. They sit in different rooms, on opposite ends of the building, and they generally connect on marketing initiatives. Retailers need to start thinking in terms of one PNL. The customer is the same, whether they like to touch and feel the product or they prefer to order online.
[ 19:31-22:26 ] Bricks are not hurdles to innovation, but your legacy thinking is
Your stores are not your problem. The "bricks" in brick-and-mortar are not your problem. The problem is you still think of yourself as a legacy brand, and you still behave in a legacy way.
[ 26:03-26:52 ] Treat your eCommerce as an integrated part of your stores.
Treat eCommerce as an integrated part of your business. Stop treating the online sphere as a separate department. You're selling to the same person through different channels.