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Corporate purpose

How Consumer Values Have Shifted in Covid Pandemic Challenging Brands To Find Their Purpose

For years companies have been looking for ways to contribute in meaningful, measurable ways to society and the environment. That need for corporate purpose beyond just making money has only accelerated since the Covid pandemic hit. A survey among 1,000 corporate employees conducted by McKinsey back in October 2019 found that 82% said it is […]

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Bloomingdale's Flagship

Macy’s Plans for Bloomingdale’s: Reclaim Luxury Leadership

In Macy’s Inc. recent earnings call, the most surprising news was the opportunity it sees in luxury. It surprised CNBC’s Lauren Thomas too, who immediately got on the phone with CEO Jeff Gennette to get the scoop. He said the collapse of competing luxury department stores, notably Barney’s, Neiman Marcus, and Lord & Taylor, combined […]

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photo-1534803973914-062f44d06ff9 remarkable retail

How to Go from Good to Remarkable in Retail

There is a select group of good retailers that meet their customers’ expectations. They are retailers that carry the products customers expect, at the prices they expect, and have staff in the store who service them like they expect. Then there are the few remarkable retailers who do something quite different. They over deliver customers’ […]

Shopper

What Jeff Bezos Knows About Consumer Psychology That You Don’t

Years ago, Jeff Bezos famously said: “I very frequently get the question: ‘What’s going to change in the next 10 years?’ And that is a very interesting question; it’s a very common one. I almost never get the question: ‘What’s not going to change in the next 10 years?’ And I submit to you that […]

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Store as media

When a Store Is More Than a Store: Measuring Its True Value

Neiman Marcus is closing its brand-spanking new Hudson Yards flagship, its first and only store in New York City. JC Penney is closing some 240 out of its fleet of 800 stores. Over the next three years, Macy’s is closing 125 “under-performing” stores in favor of some 250 stores that will get its recently announced […]

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