Business
In this episode of the Gordon podcast we're talking to Bruce Winder, retail consultant and former big retail executive on the future of brick-and-mortar retail specifically does it have one and how does it thrive going forward. Gordon is the podcast of Gordon Magazine, an online publication that believes in the inherent value of face-to-face communications which, when done right, provide insights, enrichment, and joy, which you just can't get from a screen. Gordon magazine highlights this value by covering best practices and opportunities in brick-and-mortar retail. Learn more at www.gordonmag.com. Brick-and-mortar retail is desperate for innovations that will help it build connections with customers - giving them a compelling reason not just to visit stores, and also to complete their purchases there. For larger retailers cultural inertia, high debt levels, and plain old pigheadedness are getting in the way of that innovation. This has many large retailers getting taken to school on in-store customer engagement by new entrants coming from the world of etail. Some new arrivals to the world of brick-and-mortar like Glossier are tapping exciting technology innovative delivery workflows another gadget tree to create a wow factor for customers. Conversely, other traditional retailers like Best Buy have perfected a few simple but critical items to create the minimum acceptable model for getting people into their stores and getting them to complete their purchases while they're there. In this episode part one of a two-part interview Bruce discusses why online-only, e-tailers just entering into the physical, brick-and-mortar world are outperforming more experienced counterparts, how and why some big retailers are dropping the ball, and the role of private equity in the retail meltdown.