9/21/2017

The Evolution of Retail

"Retail is not dying; It's shifting"

Everyone is fascinated by "the evolution of retail." Where is it going? What do we need to do? What brands will survive? What do you see when you look at a brand, what makes it different?  

Earlier this month, ASI attended Retail Design Institute's Crossover of Design Panel discussion, where retail design luminaries David KepronDavid AshenCT Nguyen and David Davis redefined how we think about retail. ASI also proudly attended and was once again an Emerald Sponsor of IRDC in New Orleans, where President Nancy Jackson and SVP of National Accounts, Andrew Cooper, attended lively panels, moderated discussions and got the scoop on retail from the Big Easy's locals.

 

Key Takeaways from RDI's Star-Studded Panel:

(Take notes, you won't want to forget this!) 

David Kepron, VP Distinctive Premium Brands, Marriott International, discussed his transition from retail to hospitality, and how the two industries aren't that different. 

"I take everything from retail and apply it to hospitality. It's not what you buy it's the memories that you take home. Hotel or retail stores, there’s no disconnect it's how they made you feel."

On the topic of change:

"Retailers are so wrapped up in legacy, that they can't adapt to change. You have to move quickly; there's a major shift in the age of digital". 


Creating LIVE Experiences:

David ASHEN, Principal, Dash Design

"People want to have live experiences. We as designers are creating narratives and experiences. Bringing stories to life where things can happen. The unexpected can occur. The things that are least expected will succeed. "

"There's an “industry segmentation” but why segment them? We as designers need to cross-pollinate. Architectural Systems is a great example of ones that do this right; they provide services to all industry segments." #CreativityandCollaboration 

The Vertical Retail Method

CT Nguyen, Design Director, Elkus Manfredi

"Create a place where people want to visit the negative space: Have activities planned, art, street performers. Engage the community. At Hudson Yards, we are doing something different by putting Neiman Marcus on the top floor and creating a true mix-use space of residents, tourists, and corporate (there are two office towers).  I call it 'the vertical retail method.' Neiman Marcus will be on the top floor. Famous Food and beverage are our strongest anchor, and we are sprinkling that all the way up top. Art is also a key anchor. We have the Thomas Heatherwick sculpture, which we believe will be the magnet to bring people there." We can't wait to see this space! #RetailGoals

So what did they have to say at IRDC? 

Impact, Immersive Experience, Charity Event Space... Starting with the keynote speaker, Peter Kim, Founder and Chairman of Hudson Jeans we heard how retail must radically transform to appeal to today's consumer.

The world is changing, and retailers that deliver a community engaged brand will evolve and cultivate loyalty. First Hudson Jeans retail location is slated for 2018, let's see how successful his performance, service community product delivery is!


Iconic Luxury Brand

Cadillac lost their mojo and made a bold move to transcend the boundaries of the industry by Setting up "shop" in NYC from Detroit and creating a highly programmable experiential space that invites the creative class in the Soho neighborhood to connect in their new headquarters. False Familiarity was a phrase they used, referring to what you think you know about the brand.


Hipsters, Merchants, The Big Easy

Four local independent retailers discussed how they sell goods with a purpose! Each shop owner shared their unique offering of different and expressive merchandise and the community-based in-store experiences that happen regularly which reinforce an authentic daily lifestyle of doing what matters. #joyofdiscovery

We hope you enjoyed our takeaways. Have your own retail advice? Be a guest blogger, email materialista@archsystems.com and share your expertise!

Stay tuned, our next blog post will recap the SOLD OUT IIDA Hospitality Forum event at the 1 Hotel Brooklyn Bridge. 

Posted at 9/21/2017 11:6 AM

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