Hi there Steve,

I hope your year is off to a healthy and productive start.

VUCA is an acronym that summarizes an environment that is Volatile, Uncertain, Complex, and Ambiguous. And that sure sounds like the retail industry today.

With consumer spending slowing, inflation persisting, and interest rates rising, there might be a temptation to hunker down and focus more on cost-cutting and store closings. And, to be sure, there can be plenty of good reasons to lean into efficiencies when revenues are harder to come by.

But name one retailer that has cost cut and store closed its way to prosperity?

Bueller? Bueller?

Brands that get into trouble do so because they don't become (and stay) remarkable enough to consistently win, grow and keep valuable customers.

Keep your eye on the prize. Aim higher. Act boldly. And go, go, go!

Steve

If I can make it here

The NRF's "Big Show" returned to its full glory last month, packing New York's Javits Center to the gills. The world's biggest retail conference is a great opportunity to see what's new and next for the industry, as well as connect with friends old and new.

I enjoyed speaking at three different events--including one we turned into a special podcast episode--and ended up signing a few hundred books.

So what you got Nostradamus?

What's the difference between God and a retail futurist?

God doesn't think he's a retail futurist.

Apparently I'm a glutton for punishment, as I keep doing annual retail predictions. Here are mine for 2023.

We also discussed them on the pod. Part 1 is here. For Part 2 go here. And please add to our 5-star reviews while you're at it. Do it right now. Don't worry, I'll wait.

What happens in Vegas pasa en Barcelona tambien

We're taking the Remarkable Retail podcast on the road. My producer and co-host extraordinaire Michael Leblanc and I will in Las Vegas March 26-29 for Shoptalk. I'll be on stage as well. If you are a retailer or brand, shoot me a message for a special discount on tickets for you and your team.

Then we'll be in Barcelona for the World Retail Congress April 25-27. In addition to getting several speakers on the mic, I'll be debuting some material from my forthcoming new book.

Then it's back to Barcelona two weeks later for ShopTalk Europe--sin señor Leblanc--where I'll be discussing how to transform the store.

So you're saying there’s a chance?

I follow someone on Twitter who summed it up nicely: "It's so funny how what Bed, Bath & Beyond meant by “beyond” was just, you know, "kitchen."

But it soon may be Bed, Bath & Buh Bye. The once thriving category killer is a case study in what happens when you watch the last 20 years happen to you, and the perfect example of the collapse of the unremarkable middle. But they did get thrown a life line by Hudson Bay Capital in a financing deal with slightly better terms than you could get from a loan shark. This will end badly.

The fault in our stores

Amazon has hit pause on its brick-and-mortar expansion strategy. While a good case can be made that the company needs to move deeper into physical retail to reignite growth, lower costs, and spin the advertising flywheel, it clearly has not found the right formula for its grocery, convenience store, and apparel ambitions.

At the heart of their problems is their relentless application of left-brain thinking to what are far more right-brain purchase occasions--or as I talk about in my book and we've delved into on our podcast--understanding the difference between "buying" and "shopping." A major mind shift is going to be required.

Andy, say the word, and I'll be on a plane to Seattle.

So many podcasts, so little time



I appeared on several podcasts across the last several weeks spreading the good word of Remarkable Retail and even teasing a bit of content from my next book. I hope you'll check out the two different video ones I did with my friends at Honeywell, along with Lectra's "Staying Curious", and the Spark Plug podcast.