This article is part of Raydiant’s new Future of Retail series which interviews the world’s leading retail experts to better understand how the industry has evolved and most importantly, where it’s headed.
The following is from a recent interview with Rich Kizer and Georganne Bender from KIZER & BENDER Speaking! LLC.
What personally excites you the most about the retail industry?
We spent some time recently at Hudson Yards in NYC and were impressed with interactive displays like the dinner table vignette at Neiman Marcus. Mannequins moved, platters spun and TVs behind the table changed scenes. There were empty chairs so shoppers could sit at the table and take selfies with the mannequins. The entire Kamp store was one interactive sales floor with families having a good time – and buying. The new Market by Macy’s in Texas is a smaller footprint with a café and curated assortments. Brick and mortar is changing to engage shoppers with more than just discounted merchandise.
What has been the most dramatic change you’ve seen in the industry over the past 3-5 years?
The competitive blurring of physical and digital lines of product availability, and all of the fulfillment avenues available. Customers have unlimited choices.
What are the top trends you see shaping brick and mortar retail in the next 3-5 years?
Emulating indie retail will be big. Stores are looking to smaller footprints that combine merchandise with an in-store experience, plus local community involvement.
What technology do you believe will have the biggest impact on the retail industry in the next 3-5?
Amazon’s relentless competitiveness has created a new path to purchase for all retailers and they will not stop. Technology will require constant learning, implementation, and execution at store level.
What’s the future of brick and mortar retail?
An endless search for what’s next that thrills shoppers, including superior customer service standards, a reasonable to aggressive adoption of technology, constant rotation of curated assortments, limited edition pop-ups, thinking local, and events that involve the community.