Show Notes | S2 Ep6 Goodbye 2021 – Hello 2022

Download pdf

INTRODUCTION

Welcome to Retail Done Right. These Show Notes accompany our Season 2, Episode 6 podcast, “Goodbye 2021 – Hello 2022.”

It doesn’t seem right to end the year without sharing a recap from our perspective. Plus, though it’s not without reservation, we will share a few predictions for 2022.

GOODBYE 2021

We compiled and discussed what we consider to be the biggest events relating to retail of 2021. Let us know if you agree.

  1. COVID-19
  2. Supply Chain
  3. The Great Resignation
  4. Buy Now Pay Later (BNPL)
  5. Ultra Fast Delivery
  6. Retailer and DTC IPOs

 

HELLO 2022

We then discussed our predictions for 2022.

  1. The Pandemic…is here to stay
  2. Supply Chain…improvements are coming
  3. Social Commerce…will increase but not soar
  4. Collaborative Commerce & Conscious Commerce…will boom
  5. Cannabis…not Federal legalization, but progress
  6. Ultra Fast Delivery services…will consolidate
  7. Returns…we’ll see tech and restrictions to reduce
  8. Physical Retail Stores…will expand

RESEARCH AND LINKS

Goodbye 2021

·        A record 4.5 million workers quit their jobs in November (paywall)

·        What Social Trends Told Us About the American Economy in 2021 (paywall)

·           U.S. Job Openings Near Record, Quits Rate Sees First Drop Since May

·        Gen Zers relied on buy now, pay later during the holidays. It’s time to pay up.

·        On’s IPO Is A ‘Starting Line’ For The Fastest-Growing Athletic Shoe Brand In U.S.

·        17 retailers have filed for IPOs in 2021. What does that say about the industry?

·        ‘The market’s on fire’: What’s behind the flood of DTC IPOs?

Hello 2022

·        Four trends that will share retail in 2022

o   https://nationworldnews.com/four-trends-that-will-shape-retail-in-2022/

·        Four Trends That Will Shape Retail In 2021

 

CONCLUSION

We are going to continue to explore this fascinating and ever-changing industry. Retail is truly fascinating – and deeply woven into our lives – from grocery to the pharmacy to the clothes we wear to how we treat our planet and even to how we treat each other.

We have a lot more exciting topics and conversations and guests to come in 2022. We’re so happy you are joining us on this journey.

Let’s go shopping!

Jeff Fisher & Cristene Gonzalez-Wertz

https://retaildoneright.net/

#RetailDoneRight

Connect with Jeff on LinkedIn

Connect with Cristene on LinkedIn

RETAIL DONE RIGHT is produced and hosted by Jeff Fisher & Cristene Gonzalez-Wertz

Show Notes | S2 Ep5 Diversity & Inclusion

Download pdf

INTRODUCTION

Welcome to Retail Done Right. These Show Notes accompany our Season 2, Episode 5 podcast, “Diversity & Inclusion”

Diversity and inclusion must go beyond the time constraints of Black History Month, the new Juneteenth Federal Holiday and Pride Month, amongst others. This needs to be every day. We discuss the relevance of these “months” and just how important it is to practice diversity and inclusion every day, in every decision.

There are numerous through lines between Diversity & Inclusion and Trust, which we discussed in our last podcast. In Episode 5, discuss just how important it is to practice diversity and inclusion every day, in every decision.

DIVERSITY & INCLUSION

Ai Weiwei, the brilliant artist and activist, recently posted a video on Instagram that caught our attention. In his short video, he says, “Every day should be Human Rights Day.”

This post really says it all. Based on Cristene’s research around sustainability for the IBM Institute for Business Value, more and more people are feeling the way Ai Weiwei describes. This is encouraging.

There’s a beautiful through-line from our last podcast where we discuss Retailers & Trust. As we discussed, Craig Jelinek, the CEO of Costco puts his people first so they can put their customers first. His approach is the perfect connection point:

  1. Treat employees fairly
  2. Lead with respect
  3. Practice empathy

If this was practiced daily, we’d be closer in making every day Human Rights Day.

We share a few additional examples of this in practice, including Sephora’s Accelerate brand incubator program, which focuses exclusively on brand founders of color, the 15 Percent Pledge, founded by Aurora James, which came from the idea to move beyond one-time donations and to create longer-lasting change at retailers that would then have a longer-term impact on black-owned businesses, The Initiative, which is an accelerator program, business bootcamp and funding resource for female founded cannabis businesses and Kroger’s accelerator for supply chain diversity.

Pride Month, Black History Month, Hispanic Heritage Month have deep history and they came about for good reasons. Jeff stepped back for a moment and discussed some of the history of Pride Month.

Cristene referenced a Forbes.com article by our friend, Shelley E. Kohan where she interviewed Alison Maitland and Rebekah Steele, the authors of the book, Indivisible: Radically Rethinking Inclusion For Sustainable Business Results. “Diversity is the vast mix of individual identities, talents, perspectives and experiences in the world and the workforce.”

“Inclusion is seizing the opportunities of that rich mix. It is about achieving sustainable positive results for business and society by creating and maintaining environments in which every voice is heard, every person matters, and everyone has what they need to flourish while contributing to shared goals. Inclusion is essential. Without it, diversity remains unfulfilled potential.”

RESEARCH AND LINKS

·        3 Ways the CEO of Costco, Craig Jelinek, Puts His People First

o   https://investor.mastercard.com/investor-news/investor-news-details/2020/Mastercard-Launches-Frictionless-Retail-Technology-Solutions-to-Enable-Touchless-Economy/default.aspx

·        Sephora Announces BIPOC Brand Founders For 2022 Accelerate Program

·        Sephora Signs ‘15 Percent Pledge’ to Carry More Black-Owned Brands (paywall)

·        https://intheinitiative.com/

·        Retailers leverage open calls to add diversity, sustainability to supply chains

 

CONCLUSION

“Without [inclusion], diversity remains unfulfilled potential.” This summarizes our opportunity beautifully.

Cristene wrapped up our discussion with practical steps retailers should take to live diversity and inclusion every day and fold this approach into every decision.

Let’s go shopping!

Jeff Fisher & Cristene Gonzalez-Wertz

https://retaildoneright.net/

#RetailDoneRight

Connect with Jeff on LinkedIn

Connect with Cristene on LinkedIn

RETAIL DONE RIGHT is produced and hosted by Jeff Fisher & Cristene Gonzalez-Wertz

Show Notes | S2 Ep4 Retailers & Trust

Download pdf

INTRODUCTION

Welcome to Retail Done Right. These Show Notes accompany our Season 2, Episode 4 podcast, “Retailers & Trust.”

What makes you trust a retailer?  How can retailers earn that trust?  And in these days of hyper-transparency, how can you continue to forge trusted bonds with customers that transcend price, supply chain, delivery or other bumps and bruises to your relationship?

We explore the trust customers put in their retailers and how retailers continue to earn it. We tease apart retailer trust a bit, peel back the petals on the rose and hope it still smells as sweet.

TRUST

When Morning Consult announced their list of the most trusted retailers, probably the biggest finding was,

“That retailers emerged from the past 15 months with no deterioration in consumer trust shows they balanced high demand, low supply and the needs of consumers who typically don’t buy much online. Overall, a positive sign for the industry.”

When we read the Eidelman Trust Barometer, it was little hard to swallow.  Trust in the world’s two biggest economies – the US and China – is on the decline. And trust in information sources is at a record low, along with governments and media. (Unfortunate, yet not surprising…)

Companies were the highest scoring – at 61 out of 100 points.  Even that isn’t stellar. And Only Business is Seen as Both Competent and Ethical? Wow. When they said a “seismic shift in values,” they meant it.

CONSUMER COMMENTS

We spoke to many friends and colleagues in developing this podcast. Here’s a sampling of their comments:

Amber S:

I think I trust most retailers as long as I understand expectations. Is my experience different in an old navy vs lululemon? Yes, but I know that and trust both of them.

I have 3 places I can think of that I don’t trust:

  1. Ashley Furniture- I had an absolute terrible time dealing with them. I didn’t completely write them off until I uncovered that the same thing that was happening to me was happening to a lot of others
  2. The Buckle- I hated their high-pressure approach to selling 7 jeans and Lucky brand tops. How could you trust you were buying the right pair of slightly expensive jeans
  3. Abercrombie- they made this huge comeback and I really loved shopping there again, and they made more sizes and I loved the jeans I was purchasing, and they had good sales. Now they have SO MANY influencers pushing their things and the sale model changed and they have less cute things and I feel within a few months I they flipped on me and I don’t trust that

Debra C:

When you say “trust” what does that mean exactly? Trust them for what?  Product availability, returns, product quality, etc. etc. or all of the above

You already know my feelings about Aldi and LIDL… I am huge fan of Home Goods and Marshalls/TJ Maxx.

Mark T:

Trust in what terms? That I feel they treat me well and won’t screw me over? Ever?

It used to be Bloomingdale’s personal shopping service. Vakko in Istanbul is one.

Today it takes more:

  • Do the right thing for me
  • Do you treat your suppliers well (no sweatshops), do I trust you to be sustainable?
  • Do I trust that you see me more than wallet share – no that would be not realistic but do I trust that you have a memory and not ask the same question twice – absolutely like the Inn in Little Washington. Or like Whole Foods or Trader Joe’s supply chain promise
  • Start with food retailers that embrace farm to fork and non-food with supply chain transparency

Ken P:

Two come to mind:  Home Hardware and Hudson Bay Company. Consistent quality, fair prices, excellent customer service when it comes to returns. Often very good prices on sales campaigns, i.e. Boxing Day sales, summer events. And they are Canadian brands.

Lynn R:

Retailers, hmmmm… I trust Costco!

Karen B:

Great customer service.  I would trust Nordstrom because they always put customer first

RESEARCH AND LINKS

·        Morning Consult Special Report: The State of Consumer Trust

o   https://morningconsult.com/form/most-trusted-brands-report-download/

·        2021 Edelman Trust Barometer

o   https://www.edelman.com/trust/2021-trust-barometer

·        3 Ways the CEO of Costco, Craig Jelinek, Puts His People First

 

CONCLUSION

According to Morning Consult, the three areas where brands have opportunities to win trust include data privacy, addressing the fine print, and employee treatment.

 

As the 2021 Edelman Trust Barometer Special Report summarizes, Culture is critical to trust. Today’s cultural landscape is broader than pop influence. It is also shaped by purpose and society and seismic values shifts.

 

Trust drives growth.

 

Let’s go shopping!

 

Jeff Fisher & Cristene Gonzalez-Wertz

https://retaildoneright.net/

#RetailDoneRight

Connect with Jeff on LinkedIn

Connect with Cristene on LinkedIn

RETAIL DONE RIGHT is produced and hosted by Jeff Fisher & Cristene Gonzalez-Wertz

Show Notes | S2 Ep3 Fixing the Broken Checkout Experience

Download pdf

INTRODUCTION

Welcome to Retail Done Right. These Show Notes accompany our Season 2, Episode 3 podcast, “Fixing the Broken Checkout Experience.”

Waiting for anything sucks. In a physical retail store, waiting can directly impact your experience and the impression you take away with you. But waiting to pay is the worst!

I’m in your store. I’ve selected what I want. Then I have to wait to give you my money? There’s never been a better time to rethink, redesign – to reinvent – the check-out experience. Let’s make this last impression one of the best.

FIXING THE BROKEN CHECKOUT EXPERIENCE

Check out this stat from Shopify.com to validate our point:

Although 61% of shoppers would rather shop with brands that also have a physical location over brands that are online only, more than 70% of surveyed consumers said the checkout experience is their biggest pain point.

We start with the basics. We’re in the 4th quarter – yes, Christmas shopping season. There’s clearly demand out there and people are shopping.

It may not be practical to roll out any new processes or even new tech. But you can reiterate, reinforce and work with your teams that the checkout is the last impression you leave with your customer.

It’s time to treat the check-out as Priority #1. A positive, fast and efficient check out process can help to soften any frustrations during their shopping journey.

We continue the conversation by exploring technology available in the marketplace today, including “Just Walk Out” from Amazon and MasterCard’s “Shop Anywhere” platform, created in partnership with Accel Robotics.

Our conversation focuses on the grocery segment, self-checkout and expands from there. It’s wide ranging conversation that we hope you find interesting.

Many of the articles and reports referenced during our discussion are listed below.

RESEARCH AND LINKS

·        The Future of Checkout: How Retailers are Innovating the Payment Experience

·        Just Walk Out

o   https://justwalkout.com/

·        Tiffany Haddish Looks To ‘Build Bridges’ By Opening A South Central LA Grocery Store

CONCLUSION

To close this episode, Cristene took us on a journey.

“I know I’m reaching here but I want to try something a bit aspirational…and I have to take another small detour first:

  1. Did you know that in 2020 payments giant Pay Pal allowed their people to select if they’d like to be paid every day?
  2. With automation, this is far more possible than ever. What if – now bear with me here – what if you could offer someone who can work for you sporadically – the opportunity to shop using their wages, loaded to a payment card?
  3. What if they could supplement what they buy with a percentage of items that would be going to a food pantry – so you can save them a trip. You can cap it at a percentage or a dollar value or item count…
  4. What if… you could then send that mom – and yes, I think it’s likely to be a mom working to feed her kids or family – in an Uber, Lyft or other self-driving vehicle or local van with the bags so she can get them home and, in the house, pretty easily?

If you ask me about retail done right – that’s it right there.

Let’s go shopping!

Jeff Fisher & Cristene Gonzalez-Wertz

https://retaildoneright.net/

#RetailDoneRight

Connect with Jeff on LinkedIn

Connect with Cristene on LinkedIn

Show Notes – S2 Ep2 – How to Avoid Holiday Hiring Hell

Download pdf

Special Guests: Jackie Culp & Lou Chestman

INTRODUCTION

Welcome to Retail Done Right. These Show Notes accompany our Season 2, Episode 2 podcast, “How to Avoid Holiday Hiring Hell.”

We’re in a new age of retail – the era of the Customer Channel – where Shoppers rule.  This requires retailers to be empathetic and supportive of their customers, in every way.

Our energy level skyrocketed when we invited Lou Chestman and Jackie Culp on our podcast in Season 1.  It’s a no-brainer to invite them back to help us understand the radical changes occurring in the labor market. Just in time for the Holiday shopping season…

If there’s one thing that can impact your stores it’s having the right people on the front line. But many retailers everywhere seem to be struggling to find and retain staff. What needs to happen to attract and retain the right talent today?

OUR GUESTS

As principles with the consulting firm Next Performance Horizon, Lou Chestman and Jackie Culp are helping retailers win. And there’s no better retail operations executives that we know who can help us navigate through this topic.

HOW TO AVOID HIRING HELL

The labor force shrank in September. There’s 5 million fewer people working than before the pandemic. And according to the NY Times, there’s 3 million fewer people looking for work. Will you be able to find help in stores – and restaurants – this holiday season? How can a retailer find and retain the right talent?

Lou explained that retail has always had high turnover. But what’s going on today is across the board. Pandemic era relief checks, rent moratoriums, and even student-loan forgiveness have empowered many to take risks not possible before.

Jackie weighed in as well explaining that all this is compounded by many of today’s realities – a high number of the retail workforce are women and childcare, health concerns and opportunities to work from home are also some of the issues.

What do retailers need to do today to attract staff? Are they looking for love in all the wrong places? According to Jackie, start with your existing teams. Do they feel valued & appreciated? Do they enjoy the people they work with, the boss they work for? Start with them, who do they know? Who would they recommend joining the team?

Lou built on this. If they aren’t looking within, then yes, all the wrong places. The best source for new hires is right under your nose. Offering your employees bonuses for successful hires doesn’t just help you find qualified candidates; it also raises morale.

However, retailers now must focus on their reputation! There’s a war for talent and to win you must stand out from your competition. If you made a commitment to hiring a diverse and inclusive workforce, or if you’ve taken steps to reduce your carbon footprint, let applicants know about it.

We shared practical ideas to find and retain staff. We ended with Lou and Jackie’s ideas for retailers to focus on now.

Many of the articles and reports referenced during our discussion are listed below.

RESEARCH AND LINKS

CONCLUSION

There’s a war on talent. Past approaches and business practices aren’t relevant in today’s reality. Jackie concluded, “The pandemic threw us all quickly into a virtual world. I believe that leaders need to get back into the stores, spending time with the frontline associates. They are the face of the company to the customer. It’s important to influence what that impression will be.

Lou concluded, “Love your people and in return they will love your customers!”

Jeff Fisher & Cristene Gonzalez-Wertz

https://retaildoneright.net/

#RetailDoneRight

Connect with Jeff on LinkedIn

Connect with Cristene on LinkedIn