Since this still-young century commenced, the onrush of e-commerce has commanded the attention of the retail industry, and housewares and home furnishings categories, but 2019 may mark a turning point in the prospects of the physical store as new ideas applied to brick-and-mortar operations offer consumers fresh and frequently intriguing propositions.
Kroger’s chairman and CEO Rodney McMullen provided his outlook on the future of retail at the NRF 2019: Retail’s Big Show in New York City during a keynote presentation themed, “Restocking the future: Kroger’s insatiable appetite to play and win the long game.”
With retailing’s middle ground becoming more vulnerable between price-driven and luxury sectors, the stakes are higher for retailers to become more “remarkable,” said Steven Dennis, founder and president of retail strategist SageBerry Consulting. Dennis, in his keynote to open the third annual Home Improvement eRetailer Summit in Chicago, said the urgency of a remarkable makeover is underscored by the immediate challenge faced by many middle-market retailers— physical, digital or omnichannel.
Moody’s Investors Service has changed its outlook for the retail industry in the U.S. to positive from stable.
Shed a tear for Sears Holdings if you must. Despite any flicker of post-Chapter 11 hope Eddie Lampert tries to peddle, all that seems left of this story— even if in some way the Sears and Kmart brands are salvaged or reincarnated— is for the plug to be pulled on what is left of the business as we know it and the remnants of its assets to be redistributed.
The HomeWorld Players, our annual assembly of people to watch in housewares (August 20, 2018, issue), is always an eclectic group, highlighting the wide-ranging experience, talents and ideas that make up a business otherwise unified by common challenges and opportunities.
The ongoing disruption in the retail marketplace and the continuing challenges it poses for housewares suppliers will be explored during “Adapting in the Face of Change,” the 2018 Chief Housewares Executive SuperSession (CHESS), to be held October 2-3 in Rosemont, IL.
At Home is designed to be a treasure hunt retail destination, with a product selection sufficiently broad that the consumer making a trip will have a high probability of finding a satisfying purchase. But assortment is only part of the merchandising story.
Chief executive officers are expecting massive business change over the next two years, including at retail, according to a global consumer executive top of mind study, “No Normal is the New Normal: Make Disruption Work for Your Business,” conducted by KPMG International and The Consumer Goods Forum.
The Global Market Development Center’s (GMDC) latest research report identified a top opportunity for transformation in the retail industry: supporting consumers’ health and wellness.