It was a good run. Well, maybe not really, (as you will see and feel shortly after completing this chapter), but it was a BIG run nonetheless.
Maybe you have asked yourself how dozens of brands from Sears,Toys R Us, Vitamin World, True Religion, Gymboree, Payless, Gander Mountain, Radio Shack, The Limited, BCBG Max Azria, Aerosoles (source https://www.retaildive.com/news/retail-bankruptcies-2017/446086/)to name a few all filed Bankruptcy in 2017 and 2018 with hundreds of more brands shutting down several hundred stores.
Simultaneously to this retailer calamity, Amazon and Apple went over the trillion-dollar market cap mark thanks in part to a decade-long bull market with Dow Jones cracking 25,000 and employment at an all-time low. But, the underlying drivers of the consumer economy are cancerous and terminal, and preparing your enterprise for the coming shift and turbulence should be the utmost priority if you value survival.
Every retail business that will survive and thrive in the next economy competes firmly and firstly in the realm of 'customer experience'. Rebooting your retail operation begins with understanding that the engine of your profitability is no longer being product-centric, but being customer-centric. This last thirty year shift has not been about e-tailers vs retailers, but rather product-centric vs customer-centric business design.
There are virtually no institutions or industries that aren’t facing a mounting risk of major disruption because of digital transformation, blockchain, and infrastructure.
The last decade of rapid innovation in mobility and commerce, including the beta-launch of autonomous driving vehicles, detailed urban traffic models, and routing algorithms have connected the supply chain in new, and numerous, end-to-end solutions to route physical things where and when they are needed by the customer or end user.
Working with an uber-intelligent colleague and having the creative process come to life with speed, efficiency and deliver powerful insights make me into a fiend for that productivity-high. I got the occasion to experience this reality with @TQ_AZ (Anthony Quiroz) as we set out to build a new business framework to better communicate how we optimize customer experience at our agency.