ChatGPT constantly made the headlines for the past 9 months and its adoption was massive (it reached 100m monthly active users in January 2023, 2 months after its launch. For comparison, it took 9 months for TikTok and 2,5 years for Instagram to reach the same amount of MAU). However, ChatGPT is just the tip of the iceberg, more precisely a 'demo' product showing to the general public the capabilities of Generative AI (a system able to answer queries, or 'prompts', after having been trained on large amounts of data, and therefore capable to bring answers which are going further than simply mimicking the data it learnt).

Generative AI has already started to disrupt many industries and retail is no exception. This is the reason why IADS invited Cyrille Vincey, Partner in Advanced Analytics at Bain & Company, to provide IADS member CEOs with more information and give a few examples of use cases in retail.

IADS Exclusive: What retailers should know about AI

IADS provides its members with a weekly in-depth analysis on retail-oriented topics.

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Europe is on a mission to become the world's first climate-neutral continent by 2050, but this is not a small feat. To achieve such a status, the EU is having to crack down on the way businesses are run and how people conduct their everyday lives in Europe. As a way to reduce the environmental impact caused by retailers, the European Union has started to define and impose new regulations that retailers must comply with. These directives are coming in waves and impacting certain players differently than others, thus raising questions and needing clarification.

There are many of these sustainability regulations already in effect, but they are continuing to develop and become more stringent as the EU strives to become more sustainable and environmentally conscious, especially as it seeks to lead the world on the road to a more sustainable future. The IADS pulled together the opportunitites around these regulations that businesses can adhere to their advantage.

IADS Exclusive: How retailers can turn sustainability regulations into opportunities

IADS provides its members with a weekly in-depth analysis on retail-oriented topics.

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IADS recently held a meeting all about the Sportswear brands to look out for in 2023. Based on market research, IADS and NellyRodi presented a curated selection of 15 brands that are trending right now. Check out our selection of these brands!

IADS Exclusive: Brand Roundup: Sportswear 2023

IADS provides its members with a weekly in-depth analysis on retail-oriented topics.

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IADS recently held a meeting all about the Cosmetics, Beauty and Wellness brands to look out for in 2023. Based on market research, IADS and NellyRodi presented a curated selection of 10 brands that are trending right now. Check out our selection of these brands!

IADS Exclusive: Brand Roundup: Cosmetics, Beauty & Wellness 2023

IADS provides its members with a weekly in-depth analysis on retail-oriented topics.

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IADS recently held a meeting all about the Home & Decor brands to look out for in 2023. Based on market research, IADS and NellyRodi presented a curated selection of 16 brands that are trending right now. Check out our selection of these brands!

IADS Exclusive: Brand Roundup: Home & Decor 2023

IADS provides its members with a weekly in-depth analysis on retail-oriented topics.

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IADS recently held a meeting all about the Women's Fashion brands to look out for in 2023. Based on market research, IADS and NellyRodi presented a curated selection of 10 brands that are trending right now. Check out our selection of these brands!

IADS Exclusive: Brand Roundup: Women's Fashion 2023

IADS provides its members with a weekly in-depth analysis on retail-oriented topics. This is an example of the themes the Association regularly addresses, and the topic of an article from the IADS members-only newsletter date 02 August 2023.

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The IADS attended the 2023 edition of the Global Fashion Summit which took place from June 27th to the 28th in Copenhagen. This year's theme was "ambition to action" and was an opportunity for industry leaders and professionals to share their knowledge, tools and experience to help shift the industry from vague aspiration towards concrete implementation to achieve a net-positive industry.

The overall tone of the summit was rather ominous - the clock is ticking, as 2025 sustainability targets are approaching quickly and seem unachievable, 2030 targets are the new focus as the global climate emergency becomes more pressing, and the fashion industry is not moving fast enough. In efforts to push the industry forward, the conference was an opportunity for industry leaders to share actionable case studies, step-by-step guides and conversations aimed to simplify complex topics. The IADS highlights the key takeaways and important resources for our members below.

IADS Exclusive: Global Fashion Summit 2023: The clock is ticking

IADS provides its members with a weekly in-depth analysis on retail-oriented topics. This is an example of the themes the Association regularly addresses, and the topic of an article from the IADS members-only newsletter date 26 July 2023.

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Following the IADS CEO meeting in Mexico City last May, where IADS members were able to visit the latest developments in El Palacio de Hierro's flagships (Coyoacan, Polanco and Perisur), the IADS had the opportunity to travel to Ecuador to discover the De Prati stores. The purpose was to understand more about the market, the company and the vision of the CEO, Priscilla Altamirano.

A rather small country when compared to its neighbours (Colombia and Peru), Ecuador is classified as an upper-middle-income country, with a developing economy dependent on exports (agricultural products, oil). The country regularly topped the South American GDP growth charts in the 00s and even ranked the second most performing country in 2022. Since 1999, extreme poverty decreased significantly, and employment increased, fueling the growth of the middle class which aspired to consume.

De Prati, which was founded in 1940 in Guayaquil, the trading centre of the country, managed to fulfil these needs, becoming the largest department store company in the country, with 16 stores and an e-commerce website. Unlike its European counterparts, which had available resources to learn from each other and innovate (thanks to organizations such as the IADS, but also through a vast array of suppliers and brands, and the lack of regulation at the time which allowed unrestricted data exchange), De Prati, while always being the leader in the country, had to invent each step of its development by itself, by developing in-house what was needed and finding solutions on its own.

The result is a company that has been posting an average EBIT margin of 20% and a net profit margin of anywhere between 13 and 15% for the last decade, with a much-loved retailer brand and strong social involvement. This is not too bad for a business that has developed almost in a closed circuit, which makes it an interesting use case to review the company's competitive advantages, as well as the stores that we visited.

IADS Exclusive: De Prati, a perpetual evolution

IADS provides its members with a weekly in-depth analysis on retail-oriented topics. This is an example of the themes the Association regularly addresses, and the topic of an article from the IADS members-only newsletter date 19 July 2023.

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The IADS attended the 2023 Viva Technology conference that took place from June 14th to 16th in Paris to scout the key trends and interesting startups that could be of value to our members. We have highlighted the most relevant retail trends, topics and solutions that were strongly featured in this year's edition of VivaTech.

VivaTech 2023 reflected the current state of the world – AI is all the buzz! Meanwhile, AR and web3 technologies are also still a significant focus as businesses gain a better grasp of how to leverage these technologies properly. And of course, businesses cannot write off the topic of sustainability, as the impending regulations are looming over their heads.

IADS Exclusive: Vivatech 2023

IADS provides its members with a weekly in-depth analysis on retail-oriented topics. This is an example of the themes the Association regularly addresses, and the topic of an article from the IADS members-only newsletter date 12 July 2023.

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The IADS recently had the opportunity to visit THAT Concept store, located in the Mall of the Emirates, which represents a new breed of retail in a region dominated by malls and department stores.

THAT Concept store, taking on many of the concept-store codes known elsewhere in the world, includes many of the recent innovations spotted here and there across the planet, often made by department store companies looking to reinvent themselves through smaller formats, acting as showrooms located closer to communities of customers. Interestingly enough, this concept store is owned and operated by the Majid-Al-Futtaim Group (MAF), which uses it both as a window of its retail savoir-faire and also as a testing ground for brands.

For all these reasons, we review our store visit below, in order to understand how a mall owner turned franchise operator is using a concept store to deepen its retail expertise in all formats and test brands for further expansion, and share learnings for department stores across the world, especially for the ones currently experimenting new formats.

IADS Exclusive: THAT Concept Store, Dubai

IADS provides its members with a weekly in-depth analysis on retail-oriented topics. This is an example of the themes the Association regularly addresses, and the topic of an article from the IADS members-only newsletter date 05 July 2023.

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The IADS travelled to Sweden last April to meet with the new CEO and owner, Mr Ayad al-Saffar, almost a year after his inception at Åhléns. The purpose was to discuss and understand his plans and vision for the century-old department store company.

After a first year spent reviewing the fundamentals of the company, Mr Al-Saffar started to operate significant and structural changes to the business model, and they might very well be a game-changer in this part of the world. Rather surprisingly given the fact that Åhléns already operates 47 stores in a country with 10.42m inhabitants and ranked second in Europe in terms of retail density (after Monaco), he also detailed his plans to open more stores in second and third-tier cities, thanks to his new approach to business.

We review our store visit below to understand to what extent Åhléns will revolutionize the Nordic market with its new approach

IADS Exclusive: Ahlens, the Nordic disruptor?

IADS provides its members with a weekly in-depth analysis on retail-oriented topics. This is an example of the themes the Association regularly addresses, and the topic of an article from the IADS members-only newsletter date 28 June 2023.

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The IADS helps members address multifaceted issues from answering their most operational questions or coordinating information flow to helping them address future challenges by questioning their methodologies and providing a different perspective.

This is the reason why the IADS invited Demet Ikiler, COO EMEA at Publicis Group, to discuss the white-hot Retail Media topic. Retail Media Networks (RMNs) are making the headlines for their ability to generate an additional flow of revenue with high margin yields, while making the most of department stores' most prized assets: their own sales channels. However, since the press often emphasizes big players' actions, such as Amazon and Walmart, the purpose of this conversation was to give all department store CEOs a good understanding of the situation and the stakes at hand while discussing what would be needed for a department store company to launch its own RMN.

*Demet Ikiler was appointed Chief Operating Officer of Publicis Groupe EMEA in January 2023. She joined after over two decades at WPP, where she was a member of GroupM's global leadership team as CEO of GroupM EMEA and WPP Country chair, responsible for scaling and delivering more innovative cross-culture solutions for clients. Demet has been recognized by Fortune and The Economist as one of the ten most powerful female CEOs and as an Empower 100 Executive Role Model in 2022. She is also a board member of the United Nations Global Compact, leading its diversity and inclusion chapter. Prior to WPP, Demet Ikiler worked at Zenith and Saatchi & Saatchi.*

IADS Exclusive: What department store leaders need to know about Retail Media

IADS provides its members with a weekly in-depth analysis on retail-oriented topics. This is an example of the themes the Association regularly addresses, and the topic of an article from the IADS members-only newsletter date 21 June 2023.

*IADS Exclusives are for members only. You can subscribe to our Substack to recieve our weekly exclusives here.*

The IADS joined cybersecurity professionals from various retail businesses at the RH-ISAC conference hosted by Nestlé in Barcelona in April '23. RH-ISAC provides a trusted forum for its members in the retail, hospitality, and related industries to share cybersecurity threat intelligence, best practices, and mitigation strategies. IADS attended on behalf of its members in order to get a better understanding of what is happening in the space.

The two-day workshop was an occasion for industry leaders to share the latest information and challenges around the cybersecurity landscape. Retail experts discussed the latest cybersecurity trends and threats especially in regard to advancements in ChatGPT, AI, Machine Learning, as well as the importance of implementing fusion centres.

IADS Exclusive: AI and fusion centres power up retail cybersecurity teams

IADS provides its members with a weekly in-depth analysis on retail-oriented topics. This is an example of the themes the Association regularly addresses, and the topic of an article from the IADS members-only newsletter date 14 June 2023.

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To the relief of many retailers, Chinese borders reopened in January 2023 after 3 years of closure. While they learnt how to survive during and after the pandemic by addressing local clients and other nationalities, they eagerly waited to see Chinese tourists back in stores, especially in Europe, where they represented 50% of luxury sales before the pandemic, according to Altagamma.

2022 was not bad for continental European retailers: Galeries Lafayette and Printemps in France almost fully recovered to their 2019 levels, while La Rinascente in Italy, Breuninger in Germany and El Corte Inglés in Spain all exceeded either their 2019 sales revenues or profits. This can be attributed to several factors, the strength of the US dollar (an incentive for US tourists to splurge into luxury purchases in Europe), European tourists criss-crossing the continent to spend their Covid-19 savings, the UK decision to scrap VAT relief channelling clients to Paris, Milan and other destinations, among others.

However, these conjunctural factors are not expected to last. In parallel, while the Chinese appetite for luxury has not faded, overseas retailers wonder if they will be able to get a piece of the pie, which is why anxiety about Chinese tourism is mounting. Knowing when exactly they will be back, and what they will be looking for, is key to make sure stores are properly prepared to welcome such customers again.

This article was first released on MindRetail as an op-ed.

IADS Exclusive: Chinese tourists are back to Europe. Are you ready?

IADS provides its members with a weekly in-depth analysis on retail-oriented topics. This is an example of the themes the Association regularly addresses, and the topic of an article from the IADS members-only newsletter date 07 June 2023.

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The IADS attended the latest edition of the World Retail Congress in Barcelona, during which the Association had the privilege to moderate a roundtable dedicated to the future of department stores, with the CEO of Steen and Strøm in Norway, the CFO of Matahari in Indonesia, and the Deputy Chair at John Lewis in the UK.

This edition was also the opportunity to listen to great leaders and hear their insights. Below is a selection of the most interesting lessons we took home.

IADS Exclusive: The World Retail Congress

IADS provides its members with a weekly in-depth analysis on retail-oriented topics. This is an example of the themes the Association regularly addresses, and the topic of an article from the IADS members-only newsletter date 31 May 2023.

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IADS consolidated 2023 Spring and Summer window displays from around the world in the latest Spring-Summer window report. Have a look at how IADS members and other department stores are capturing the upcoming new seasons through their artistic and inspiring interpretations.

DEPARTMENT STORES WINDOWS, IN-STORE INSTALLATIONS, VISUALS & SOCIAL MEDIA SPOTS

IADS Exclusive: Department Stores Spring-Summer Windows 2023

IADS provides its members with a weekly in-depth analysis on retail-oriented topics. This is an example of the themes the Association regularly addresses, and the topic of an article from the IADS members-only newsletter date 24 May 2023.

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Private shopping is nothing new to retail. Think high jewellery and watchmakers, they have always traded in discreet ways. More recently, luxury flagship stores have increasingly developed private lounges. While they used to be opulent rooms with comfortable sofas, they have transformed and expanded into private floors, private apartments, and finally, full private stores that are only accessible to a limited list of VICs. This comes as an evolution for big spenders' shopping habits. On one hand, top customers tend to spend more, hence expect to be treated accordingly. On the other hand, the pandemic created a new demand for one-of-a-kind or, at least, special experiences.

Besides, in an environment where luxury brands intend to increasingly go direct-to-consumer and where resale is gaining traction and is considered a more responsible shopping behaviour, private retailing represents an additional and crucial strategy for brands to make a difference in the way they consider their best customers.

While Covid accelerated luxury consumption, the private retailing trend is here to stay. Many options are available from full private stores, private suites and salons inside of the stores, to confidential retail spaces. The IADS pulled together the most relevant examples of what private retailing offers at the moment.

IADS Exclusive: Is private retailing the future of luxury shopping?

IADS provides its members with a weekly in-depth analysis on retail-oriented topics. This is an example of the themes the Association regularly addresses, and the topic of an article from the IADS members-only newsletter date 17 May 2023.

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The IADS' role as an expert platform is to be aware, explore, and inform its department store members about every aspect of innovation in retail, in order to help them address the future challenges with the best cards in hand. This involves taking a step back from fads and fashion, and addressing innovation with a cold head to report what is going on.

This is the reason why the IADS invited Sandra Gasmi, founder of Demain Beauty, an innovative clean beauty brand, to present the Metaverse initiative she has developed with her team in partnership with Chafik Studio, an architect company founded by Chafik Gasmi, her husband, that has worked with Sephora, Lancôme, LVMH, in addition to having experiences in the hospitality sector.

IADS EXCLUSIVE: The Metaverse: explored by retailers

IADS provides its members with a weekly in-depth analysis on retail-oriented topics. This is an example of the themes the Association regularly addresses, and the topic of an article from the IADS members-only newsletter date 10 May 2023.

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The IADS is at a crossroads when it comes to helping its members, by at the same time addressing their most operational questions and coordinating the informational flow, but also helping them to address future challenges, by questioning their methodology and providing a different point of view.

This is the reason why the IADS invited Eugenie Rives to share her view on the management of innovation and transformation, as the Early Project Managing Director at  Project X, Alphabet's "moonshot factory". Before joining X, Eugenie led Operations for Google in France and Sub-Saharan Africa. Before Google, Eugenie worked for Alcatel in Mexico city, managing projects to connect cities and public infrastructure online.

Alphabet's moonshot factory is the place where uncomfortably ambitious, world-changing ideas are developed. These early-stage moonshot teams are exploring radical new ways to solve some of the world's biggest problems using breakthrough technology. She explained how a moonshot project works.

IADS Exclusive: How to achieve innovation in permanent disruption: the Google Project X example

IADS provides its members with a weekly in-depth analysis on retail-oriented topics. This is an example of the themes the Association regularly addresses, and the topic of an article from the IADS members-only newsletter date 03 May 2023.

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Digital transformation remains a central topic of discussion for department stores. The IADS already dedicated its 2021 White Paper to the topic, trying to understand what was at stake and what was needed within department store companies to fully embrace the change. In order to bring a very down-to-earth angle to the conversation, the IADS invited Laurent Raoul to explain his views on digital transformation in heritage organisations in a new global context.

Laurent Raoul is the founder and managing consultant of XLc Consultancy Company, specializing in Supply Chain, Operating Models and Back Office IT systems dedicated to the Fashion Industry. He has run development or restructuring projects for brands belonging to main Fashion Groups in Europe or in the US, and for mass market and bridge brands or retailers.

IADS Exclusive: Digital transformation in heritage organisations: how to adjust to the new global context?

IADS provides its members with a weekly in-depth analysis on retail-oriented topics. This is an example of the themes the Association regularly addresses, and the topic of an article from the IADS members-only newsletter date 26 April 2023.

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The IADS invited Green Pea to address member CEOs. This exclusive covers the most important takeaways from the meeting.

As shown in the latest IADS White Paper on Sustainability and Department Stores, the topic of converging towards an environmentally and economically durable and sustainable model is extremely complicated. The more retailers dive into CSR and ESG commitments, the more complicated questions they have to face. In addition, the majority of IADS department stores do not have the luxury of starting from scratch to create a 'green' or 'sustainable' business from the ground up. They have to pivot their centuries-old organisations to be able to meet the standards of today's regulations and expectations while keeping business-as-usual operations.

However, it is still possible to find inspiration from new business models. In order to provide IADS member CEOs another angle, the Association invited Francesco Farinetti, CEO of the Green Pea department store in Turin, Italy to present the first "Green retail park" in the world.  The department store has been constructed sustainably and considers the impact that its business has on its community as well as the earth. Farinetti, who has been CEO of Eataly prior to this experience, presented his company's radical take on a retailer that puts sustainability at the core of the business.

IADS Exclusive: The CEO of Green Pea on challenging the retail business model

IADS provides its members with a weekly in-depth analysis on retail-oriented topics. This is an example of the themes the Association regularly addresses, and the topic of an article from the IADS members-only newsletter date 19 April 2023.

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It is no secret that relational shopping is becoming very important to grow a retail business from local to international clients, and anyone not aware of it learnt it the hard way during the pandemic. Mobile and web solutions are now helping sales associates understand their customers better and increase sales thanks to a single tool pulling in consumer data points from various channels. The IADS' role as an expert body is to be aware, explore, and inform its department store members about every aspect of innovation in retail, which is why the Association invited Arnaud Barbelet, COO of Clientela, and Thomas Meyer, CEO of Mobile Now Group to share the importance of relational shopping.

Clientela is a software company based in New York City, with global operations. They aim to reinvent the store as an engine for growth, with a complete suite of Acquisition, Loyalty and Retail Operations solutions. Arnaud Barbelet is COO and co-founder, in charge of European markets. He focuses his expertise on clienteling, consumer experience and product strategy for key brands and retailers including Chloé, Diptyque and Magasin du Nord.

Mobile Now is a leading, full service, mobile development studio, with a focus on digital experiences, products, and platforms. Founded in 2009, it is now present in Shanghai, Hangzhou and Changsha, China and Singapore. An international team of 90, Mobile Now provides consultancy through to UX and UI design, as well as development across all the key mobile platforms. Thomas Meyer, CEO and co-founder, started the company in 2009 after realizing to what extent mobile phones could disrupt consumers' and retailers' existences.

Together, they presented examples (Magasin du Nord, Lane Crawford) in order to generate a very lively conversation.

IADS Exclusive: Relational shopping: business cases from Magasin du Nord and Lane Crawford

IADS provides its members with a weekly in-depth analysis on retail-oriented topics. This is an example of the themes the Association regularly addresses, and the topic of an article from the IADS members-only newsletter date 12 April 2023.

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The IADS attended the latest edition of the Retail Summit in Dubai, during which the Association had the privilege to moderate two roundtables, one centered on customer centricity (with the CEO of AWW group, owner of Pepe Jeans, Hackett and Façonnable, the CEO of WHP Global, owner of Toys'R'Us, and the President of Fashion, Beauty and Homeware at Chalhoub), and the second one on the future of specialty retail (with the CEO of Fred Segal, CEO and co-founder of The Latest Concept Store, and the CEO of Al Sulaiman Group).

This edition was also the opportunity to listen to great leaders and hear their insights. Below is a selection of the most interesting lessons we took home.

Overall, the Retail Summit is a rather surprising event when compared to the NRF in New York or the WRC. Its regional dimension makes it an ideal event for any organization or business interested in the Middle East, but it is also a great opportunity for networking, as guest speakers and high-ranking visitors are easily reachable thanks to its intimate and smaller format. Bumping into CEOs is easy during lunch breaks and conversations are casual.

While the first day was focused on functional approaches to the business, the second day was star-studded with retail legends, bringing the audience into another dimension. Three ranges of topics were discussed:

• New ways to address the notions of customer lifetime value, mass and scalable experience customization, and customer-centricity (a key topic in the Middle East),
• Sustainability and how it translates into fashion and retail,
• Keeping legacy businesses (either brands or retail formats) relevant for the future.

IADS Exclusive: Highlights from The 2023 Retail Summit in Dubai

IADS provides its members with a weekly in-depth analysis on retail-oriented topics. This is an example of the themes the Association regularly addresses, and the topic of an article from the IADS members-only newsletter date 05 April 2023.

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Retailers do not need to be reminded that disruption in the space has been numerous with up-and-coming tech (Web3 and AI), figuring out the "new normal" following a global pandemic, a war in Europe, as well as inflation. These are only a few of the things that have impacted retail businesses between 2020 and 2022.

The role of the IADS as an expert platform dedicated to the department store world is to be able to step away from the immediacy and the constant stream of news and be able to analyse the situation based on actual and reliable numbers.

This is the reason why the IADS launched the first edition of its exclusive Department Store global observatory, the IADS 100, in May 2021. This list, capturing data from a number of department store companies around the world, is intended to track the changes in the retail format and see how players in various markets are able to adapt to challenges and change. It is exclusively based on first-party information that the IADS sources itself.

In the latest rendition of the IADS 100 monitor gathering 2021 fiscal year figures, it has been clear that compiling comparable information across markets has proven to be more and more difficult. Many retailers are forecasting against 'normal' times and looking to beat 2019 figures rather than 2020 results. This is fair as department stores were forced to operate in limited ways or not at all for long periods of time, therefore typical KPIs from 2020 are no longer reliable when moving the business back to 'usual' times./nbsp]

What is hard about referring to 2019 figures rather than 2020 data is that there might not be a 'business as usual' reference to compare to anymore. It seems as if retailers are having to constantly adapt, therefore year over year comparisons need to be deeply analysed to be fully understood.

This report will attempt to understand some of these major changes across global retail markets. In order to make comparisons year over year, all exchange rates to Euros come from March 22, 2021, which was the date chosen during the initial IADS 100 release.

IADS Exclusive: The latest edition of the IADS 100: dynamics in the department store world from 2019 to 2021

IADS provides its members with a weekly in-depth analysis on retail-oriented topics. This is an example of the themes the Association regularly addresses, and the topic of an article from the IADS members-only newsletter date 29 March 2023.

*IADS Exclusives are for members only. You can subscribe to our Substack to recieve our weekly exclusives here.*