(00:00:00) The Rise and Fall of Hudson's Bay

(00:10:40) Identifying the Cracks: Early Warning Signs

(00:18:30) The Lack of Identity and Customer Experience

(00:25:32) Generational Disconnect: Evolving with Consumers

(00:36:43) The Final Days: A Retail Time Capsule

(00:40:36) Reimagining Hudson's Bay: A Path Forward

Garrett Gaudet explores the decline of Hudson's Bay, a historic Canadian retailer, focusing on the retail and customer experience aspects that contributed to its bankruptcy. He discusses the missed opportunities, lack of identity, and failure to adapt to changing consumer behaviours over the years. The conversation underscores the importance of understanding customer needs and adapting to the market, ultimately prompting a reflection on what could have been done differently to save the iconic brand.

Takeaways

• The decline of Hudson's Bay was not sudden; it was a result of years of neglect in adapting to consumer needs.
• The expansion into the Netherlands was a costly failure that highlighted the brand's lack of identity.
• The store's bland design and lack of Canadian identity contributed to its downfall.
• Younger generations viewed Hudson's Bay as a store to walk through rather than a shopping destination.
• The lack of personalized customer service diminished the shopping experience.
• Hudson's Bay failed to evolve with changing consumer behaviours, particularly among millennials and Gen Z.
• The final days of Hudson's Bay felt like a time capsule, showcasing outdated practices and designs.
• There was a disconnect between the brand's legacy and its current offerings, leading to a loss of consumer connection.

Connect with Garrett Gaudet
Instagram: https://www.instagram.com/garrettgaudet/ 
YouTube: https://www.youtube.com/@garrettgaudet
Email: [email protected]
Website: https://www.garrettgaudet.com/