Today we speak with Ansgar John Brenninkmeijer, CEO of Value Machines.
We start by assessing the current context of the retail sector.
You’re either online or off-price. A third alternative is omnichannel.
Will the offline retail disappear?
No. There is a tax advantage to letting customers do part of the work of distribution.
What are offline defects and virtues in front of the online retail?
High % of returns especially in woman’s fashion.
What is the biggest problem or weakness that the offline retail has to face?
They are using the wrong merchandise math. See www.profitperX.com
In the current context, what role does technology play in retail?
Offline retail software is programmed based on the assumption computers don’t exist.
Highlight a current technology or innovation that you believe is setting a trend.
Counting money instead of comparing margins at German discounters. «Deckungsbeitrag»
What does it take for a store to work? Is there a magic recipe?
Good systems, merchandise math that makes «cents». Think small. Treat «human resources» like people.
How is customer loyalty achieved?
With a consistent offer. A brand that offers scarcity and exclusivity or else best value for money.
How do you see the future of retail?
Artificial Intelligence in general and the «Technological Singularity» in particular will change everything between now and 2030.