Some retail is here to stay and some will be gone forever, Carl discusses the future for retail in this episode of #70secondCEO.

Read full transcript:

Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.

If I’m a retailer the first thing I wanna do is, I wanna decide what side of the fence I'm on. Am I a retailer in a standardized economy meaning commodities items that are already kinda you know that fit- toilet paper, consumables a tool, a ranch or the more customized economy like customs suits, cafes, specialty retail that sort of thing. What we retailers have always had the advantage and always will have the advantage over any other type of shopping is they could provide a service and experience and they can provide essentially- consulting. So, if I'm, for example, going into a natural food store and I need to know or learn what are the right supplements for me or what’s a good regimen I should be on or what are the healthy alternatives to some of the things I purchased in the past. I would go into that store because likely I’m dealing with an owner or somebody very educated and get a high touch service and if I’m a retailer, if I can provide that high touch service then I have a good chance of survival. Think about the Apple store, the Apple store still has a line outside of it, still. So, all retail is not going away, two types of retail are going away, retailers who provide a crappy experience, that’s going away, if you're bad you’re going away, and also the standard experience.

Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.