Jason McNary is Global Board Member & CEO in Americas of UNO de 50. He’s an Experienced Non-Executive Director & Nomination Committee Member, fashion and digital Global Executive and Board Member with Private Equity experience. In this post-covid situation, He’s exited about the future of retail and says that brands must change the way they reach the customer.
What do you think the post-COVID retail landscape will look like?
The most dramatic change has been a shift from being reliant on brick and mortar to drive demand to now the focus and reliance being on digital, as well as how the “new normal” is shifting how mindful consumers are when making purchases and their psychology on the shopping experience.
Brands are more than ever forced to innovate their in-store experience to new and different personalized offerings and their communication to get traffic into stores.
Trends such as virtual styling and selling will gain traction fast as it has in China
In this era of innovation for brands …What will be the biggest problem or weakness that the physical store have to deal with?
40% of customers have moved from in store to online and will stay online. This will present traffic challenges for the physical stores. Brands will be forced more that ever to innovate the in store experience to new and personalized offerings. Their communication to the consumer will need to shift to inspire and influence mall traffic.
And in this new situation that the retailer has to overcome … What role will technology play?
Technology will continue to play a big role with brands evolving post covid. Trends such as virtual styling and selling will gain traction fast as it has in China. Brands will need to quickly reach to the new shift in order to continue to meet consumer brands by investing in technology and using technology to evolve the free-standing store experience.
Brands will be forced more that ever to innovate
How will customer loyalty be achieved?
Customer loyalty will be achieved through meeting consumer demand and making the experience seamless.
Although physical stores will present traffic challenges… What do you think about the future of retail? Are you optimistic?
I am excited for the future of retaiil. COVID19 has pushed leaders to think differently to impact business and make their brands exciting for the current consumer as well as new consumers. The industry will bounce back and the most interesting retailers will thrive in this new post-pandemic environment.
The industry will bounce back and the most interesting retailers will thrive in this new post-pandemic environment
What do you think about our Flame analytics tool?
Flame Analytics is one of the key technology investments that will be important for retailers during this time to measure success and pin point key opportunities for growth.
Thank you Jason 🙂