Retail Executives Say Shoppers Have All The Power

In an ongoing power struggle between consumers and retailers, shoppers are winning. Consumers are “very nuanced in their expectations,” Ron Johnson, the former CEO of J.C. Penney and the former senior vice president of Apple’s retail division, said at CNBC’s Evolve Conference on Wednesday in New York. Johnson now is the CEO of Enjoy, a company that’s helping retailers build out mobile stores. Shoppers are “responding clearly to innovative new business models,” he said. They like newness. And “the tolerance for a bad experience has gone to zero.” As a retailer, “you’ve got to be great every time,” Johnson told the audience. Read more at CNBC.