What Retailers Think About The Store Of The Future

This week, executives from retailers large and small — including Target, Tiffany & Co., Macy’s and M.Gemi — gathered in Napa, California, for the Digiday Retail Summit, focused on the changing state of retail. We held group meetings where retailers discussed some of the biggest challenges they’re facing today, including remaining competitive as the industry explores new sales channels and embraces data and technology. The following are highlights from Day 1’s session on the store of the future. Attendees agreed to openly comment on the record, in exchange for anonymity. “We talk about the store of the future in present tense: How are we effectively interacting with customers in multiple ways? It’s not just about getting them to come into our store or go to our e-commerce page; we’re looking at whether sales have continued to grow day after day and remaining one step ahead of the competition.” “Is the purpose of the store of the future to sell? To brand? To drive online sales? We’re still figuring it out.” “The store of the future means something different to different retailers. What are you aiming for? Providing an omni-channel experience? Successfully tracking your consumer from online to your store? It’s more a mindset.” Read more at Digiday.