This week we do a deep dive into the rapidly changing world of retail real estate with Tom McGee, the CEO of ICSC, the industry's biggest trade association. In a wide ranging conversation we get Tom's view of how the industry continues to evolve from legacy concepts to marketplaces, what the pandemic did to reshape the landscape, and which key trends we should be paying attention to.
We also explore why so many people fell for the bogus "retail apocalypse" narrative, what the blurring of the lines between physical and digital portends, and how important the "halo effect" of physical stores can be for retailers.
But as is our custom, we kick things off by dissecting the biggest new of the week, including what to make of quarterly earnings and downward guidance from both Walmart and Home Depot. Then we briefly touch on Wayfair's very bad week before moving on to Target's good news decision to double down on the "stores as hubs" strategy by adding six additional "sortation centers." Next we try to wrap our heads around Amazon's decision to disband it's shopper experience group as well as the news that Shein may approach $60 billion on revenue by 2025, which would exceed the combined sales fo Zara and H&M.
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We're headed to Las Vegas in March for another edition of Shoptalk. Retailers and brands can get a Shoptalk ticket for a reduced rate of just $1950 rate here using our special discount code RBREMARK1950.
Past episodes mentioned this week:
Making the most of traffic: An expert panel on in-store innovation.
The global economy: An interview with Ira Kalish, Deloitte's Chief Economist.
The store as brand hub with Target SVP Nancy King
ICSC’s website https://www.icsc.com/
Tom’s LinkedIn Newsletter “From Where I Sit”
About Tom
TOM MCGEE is the President and CEO of ICSC, the preeminent international membership organization serving the Marketplaces Industry. As the voice of the industry, Tom is the leading expert on the marketplaces and spaces where people shop, dine, work, play and gather as foundational and vital ingredients of communities and economies. The majority of the nearly $6 trillion of U.S. consumer activity generated in 2022 by the retail, food-and-beverage, entertainment and consumer service industries occurs within America’s marketplaces, representing approximately 1 out of 4 American jobs.
As an organization, ICSC produces content, events and experiences that support and advance the growth of its retail and real estate member businesses, while also informing and advocating to shape public policy.
Prior to joining ICSC, Tom served as Vice Chairman of Deloitte, LLP, the largest professional services firm in the United States. During his 26 years with Deloitte, Tom held global and U.S. leadership roles, including Vice Chairman, Deputy CEO, National Managing Partner of M&A Services, and Global Chief of Staff.
Tom is a noted business speaker with frequent appearances on, among others, Fox Business, Bloomberg and Yahoo Finance. He coined the term “retail renaissance” to describe the convergence of digital and physical channels in retail and is often quoted in national media outlets such as The Wall Street Journal, The New York Times, and USA Today.
Tom is the former chairman of Covenant House International, the largest privately funded charity supporting homeless youth in the Americas. He currently serves on the Loyola Marymount University Board of Trustees and is active in numerous other business and community organizations, including serving as a member of the U.S. Chamber of Commerce Committee of 100.
About Us
Steve Dennis is an advisor, keynote speaker and author on strategic growth and business innovation. You can learn more about Steve on his website. The expanded and revised edition of his bestselling book Remarkable Retail: How To Win & Keep Customers in the Age of Disruption is now available at Amazon or just about anywhere else books are sold. Steve regularly shares his insights in his role as a Forbes senior contributor and on Twitter and LinkedIn. You can also check out his speaker "sizzle" reel here.
Michael LeBlanc is the Founder & President of M.E. LeBlanc & Company Inc and a Senior Advisor to Retail Council of Canada as part of his advisory and consulting practice. He brings 25+ years of brand/retail/marketing & eCommerce leadership experience, and has been on the front lines of retail industry change for his entire career. Michael is the producer and host of a network of leading podcasts including Canada’s top retail industry podcast, The Voice of Retail, plus Global eCommerce Leaders podcast, and The Food Professor with Dr. Sylvain Charlebois. You can learn more about Michael here or on LinkedIn.
Be sure and check out Michael's latest venture for fun and influencer riches - Last Request Barbecue, his YouTube BBQ cooking channel!
We're headed to Las Vegas in March for another edition of Shoptalk. Retailers and brands can get a Shoptalk ticket for a reduced rate of just $1950 rate here using our special discount code RBREMARK1950.
