Highly regarded by many key players in the retail industry, Euroshop is a trade fair founded in 1966 at the initiative of the EHI Retail Institute and takes place every three years since the 1975 edition. The 2023 edition took place from February 26 to March 2, and the IADS attended the session to understand the remarkable trends emerging from this year's Euroshop fair, as the first post-pandemic edition.

IADS Exclusive: Euroshop 2023 – What to keep in mind from the first post-pandemic edition

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 15 March 2023.

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

OpenAI, a research laboratory based in Los Angeles dedicated to Artificial Intelligence technology,  is the parent company of groundbreaking AI technologies such as DALL·E 2 which creates original art and images based on a text description, and Whisper which is a speech-to-text AI solution that can very accurately transcribe speech across languages.

ChatGPT is OpenAI's latest release that has turned heads. ChatGPT is a chatbot technology that has the ability to generate human-like text, which could bring value to businesses that want to add a layer of sophistication to their digital communications. The solution offers human-like responses to a variety of questions, admits when it makes a mistake, and can even help write or correct code.

ChatGPT has been creating a lot of buzz since OpenAI released the free version, and the company has also shared that they will be monetizing the tool by offering it as a cloud-based API (Application Programming Interface) that businesses and developers can integrate into their own applications and services. But what does this mean for retailers and businesses? Will such sophisticated chatbots bring added value to businesses in the short term or will the technology need more time to learn and be applied in a way that serves consumers and businesses without the fear of impacting brand image?

IADS Exclusive: Why ChatGPT is turning retail leaders' heads

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 08 March 2023.

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

Benedict Evans is an independent analyst that looks at how tech impacts various industries including retail, advertising, media and others. He has spent six years with Andreessen Horowitz, one of the largest venture capital companies in the US, and prior to this experience, held various roles in strategy and business development in media and telecom companies, including in mobile phones when this was an "exciting, disruptive and sexy" industry.

Every year, he releases an extensive presentation on how he understands the tectonic shifts in technology and their impact on the other industries. The IADS reviewed his 2022 presentation and invited him as a guest speaker at the last IADS General Assembly in October 2022. Now that his 2023 presentation is released, "The New Gatekeepers", we review how, for him, acceleration in tech is not disrupting retail per se, but rather creating the needed context for the appearance of new models.

IADS Exclusive: Benedict Evans: from the great unbundling to the new gatekeepers

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 1 March 2023.

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

*Galeries Lafayette made headlines earlier in 2022 when the "Wellness Galerie" opened on 3,000 sqm in the Paris Haussmann flagship. It was a step forward in terms of space allocated and percentage of services offered, compared to products. However, the French department store was not the first mover, as the wellness category had already been explored by other retailers in the world. Shifts in customer behaviour, focus on sustainability at large including self-care, and the need for retailers to diversify and explore new categories to stick to trends or generate new revenue streams… these are all reasons why retailers that are increasingly exploring or expanding their offer in this new category are multiple. Let's review how department stores are currently addressing wellness.*

IADS Exclusive: Wellness, the new feel good category for department store CEOs?

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 20 February 2023.

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

The IADS travelled to Berlin last November to meet with Andre Maeder, the CEO of the KaDeWe Group, a few hours before the unveiling and celebration of the store's ultra-luxurious revamp after years of work. Berlin is not precisely coming to the top of mind when it comes to luxury retail when compared to London, Paris or Milan… yet. But while the city undoubtedly is a buoyant and energetic place, the upgrade of KaDeWe, combined with a shiny new airport, might very well be a game-changer and put Berlin on the international luxury map.

We review our store visit, showing the second largest department store in Europe in size remains true to its roots of acting as a local meeting point and a city landmark, and does not only rely on tourists for its future.

CHECK OUT THE COLLECTION OF PICTURES HERE

IADS Exclusive: KaDeWe, a place to gather

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 15 February 2023.

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

The 2023 edition of the NRF Big Show took place on 14 – 17 January. After a virtual edition in 2021 and a limited reopening session in 2022, this edition showed that retail was back on track, with more than 1,100 exhibitors attending, to be compared with the 900+ previous record in 2019. As usual, a wide variety of themes were explored during this somewhat overwhelming event, and it is difficult, if not impossible, to recap all the conversations that took place.

We made a selection of presentations we attended, with a focus on department stores topics. Before doing so, looking at the big picture in terms of topics addressed also help understanding the general mood of the event:

*-    The economy was not top of mind even though there were echoes of inflation and recession. Speakers were excited by many other topics and the socio-economic context did not overshadow every presentation,

•    Metaverse was of course not a topic anymore but excitement about Web3 was very much palpable,
•    CSR and ESG were widely discussed and mentioned in almost each and every presentation, confirming that going green is not a choice anymore, as we have echoed in our last White Paper released this month,
•    Social media is becoming more personalized and difficult to operate as customers are torn between their will to log out in order to go on a digital diet, while balancing the fear of missing out on important news if they do so,
•    Exceptional customer experience goes deeper, and it does so through how consumers are treated, what they get, and also the information they are provided with, including informing them about the sustainability aspects of their transaction.*

Speakers we listened to during this event discussed retail transformation, physical stores and business models, customer experience, sustainability and retail media.

*Table of contents:

•    Leading through transformation and purpose: Macy's
•    The store of the future is less about the store and more about the business model: Havaianas, Sunglass Hut.
•    Retail strategies for major disruptors: GDR Insights
•    Curated, captivating, contemporary: a blueprint for physical stores: Neighborhood Goods, Studs,  CAMP
•    Building an innovative and personalized luxury experience: Farfetch, Harrods
•    Retail media networks: how the physical store will power retailers' next phase of growth: Albertsons, Nordstrom
•    Placing sustainability at the heart of retail: Holt Renfrew*

IADS Exclusive: A selection of interesting conferences from the NRF Big Show Event – January 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 08 February 2023.

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

BUY THE WHITE PAPER HERE

ACHETER LE LIVRE BLANC ICI

Sustainability in retail is hardly new and has become a major factor in business decisions and investments for retailers of all shapes and sizes. Consumers are increasingly becoming aware of the impacts that their purchases can have on emerging economies and garment workers and are consequentially becoming more demanding to understand how they can make impactful changes by harnessing their purchasing power. Governments are also taking a stance and demanding that retail industries start to release more accurate data that can be traceable through new laws and regulations that can have a large impact on profits and operations.

Retailers do not have the luxury of ignoring this topic. They hold responsibility as they translate customer desires and needs into market opportunities by acting as a bridge between consumers and suppliers. Department stores play an even more important role thanks to their historical and usually very central position in cities, allowing them to bring convenience and product curation to both local customers and tourists who view them as must-see places during their stay.

With such a position and impact, department stores are bound to transform into sustainable businesses offering consumers facilities, products and experiences that create net-positive environmental and social impacts. The IADS White Paper reveals how department stores are innovating and adapting to allow sustainability into their core business in order to remain relevant.

IADS White Paper: How sustainability is seeping into the foundation of department store businesses

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 01 February 2023.

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

The IADS Academy programme, a 27 year-old tailor-made mentoring workshop open to our members' high potentials only, promotes cooperation and future orientation. Over the years, the IADS Academy have trained 180+ executives from 28 companies in 21 countries, some of whom reached top positions in member and non-member companies (for IADS only, 3 CEOs and 1 COO in 2020).

IADS Exclusive: 2022 IADS Academy report How to make Private Labels more profitable?

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 25 January 2023.

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

IADS recently held a meeting all about the Men'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: Men's Fashion

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 18 January 2023.

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

Christmas Window Displays Photo Deck 

IADS consolidated 2022 holiday window displays from around the world in the latest Christmas window report. Have a look at how IADS members and other department stores are capturing the holiday spirit through their artistic and inspiring interpretations.

IADS Exclusive - Department Stores Christmas Windows 2022

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 December 2022.

IADS interviewed one of the co-founders of Thirteen Lune, Nyakio Grieco, to understand more about the inclusive e-commerce beauty marketplace. Grieco created her first beauty brand 20 years ago to celebrate the sophistication of Africa in premium beauty, inspired by the teachings of her Kenyan grandparents who shared their beauty secrets with her. During the racial reckoning of 2020, she found herself and many other founders of color on various lists celebrating Black beauty founders.

This pushed her to start researching these brands and founders, which then led her to realize that many of these brands had very little distribution or representation in large retailers. This is what led her and her co-founder Patrick Herning (founder of plus-sized fashion brand 11 Honoré) to create Thirteen Lune to be the first of its kind truly inclusive retail beauty platform. The company has a 90/10 rule: 90% of all the brands carried are created by people of color around the globe who make products for people of all colors, and 10% of the brands are dedicated to fostering allyship. Thirteen Lune is deeply committed to building generational wealth in Black and Brown communities while helping to make the beauty industry more inclusive.

IADS Exclusive: Innovative Thinking Interview Thirteen Lune's fight for representation in the beauty space

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 7 December 2022.

The IADS took the opportunity of the 63rd General Assembly in Geneva to issue POAPs (Proof of Attendance Protocols) to member CEOs as a virtual representation of their 2022-2023 membership as well as POAPs to the graduates of the 2022 Academy Program as a virtual certificate of participation. The inspiration for this activity was to be able to learn by doing and put ourselves in the shoes of our members as they face questions about Web3 and its various applications. The following synopsis is a look into our Web3 journey as well as the takeaways we gathered from the experiment.

IADS Exclusive: A window into Web3: IADS' exploration into the practical application of digital assets

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 1 December 2022.

Fall-Winter Window Displays Photo Deck 

IADS consolidated 2022 Fall and Winter 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.

IADS Exclusive - Department Stores Spring/ Summer Windows 2022

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 23 November 2022.

IADS recently held a meeting all about the leather goods & shoes brands to look out for in 2022. Based on market research, IADS and NellyRodi presented a curated selection of 13 brands that are trending right now. Check out our selection of these brands!

IADS Exclusive - Brand Roundup: Leather Goods & Shoes

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 16 November 2022.

As of 2022, Walmart accounts for 10,585 stores in 24 countries, operating under 46 different names in the United States, Canada, Mexico, Central America, India, China and South Africa to name a few. Walmart is the world's largest company by revenue, with about $570 billion in annual revenue, according to the Fortune Global 500 list (Amazon comes second). It is also the largest private employer in the world with 2.2 million employees. Walmart was the largest United States grocery retailer in 2019, and 65% of their sales came from U.S. operations.

To keep its position and secure recurring customers, Walmart started a transformation before Covid to offer in-store seamless omni-shopping experiences. The new Walmart store has convenience, experience, and membership in mind, and it's no surprise. The transformation came in 2 phases: the first one was completed in September 2020, and the second one has been in testing since February 2022. While the first phase was focusing on in-store navigation and efficiency, the second one is about giving stores a new look and feel, as well as offering customers a digitally enabled shopping experience. In parallel, the Walmart+ membership program was launched and gained traction.

On the one hand, by developing new visual merchandising features, Walmart is encroaching on Target's turf, both taking cues from department stores that are usually masters in the visual merchandising area. On the other hand, by heavily boosting their membership program, they are chasing after Amazon.

CHECK OUT THE COLLECTION OF PICTURES HERE

IADS Exclusive: Is Walmart's new store concept good enough to compete with Target and Amazon?

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 9 November 2022.

As one of South Korea's leading department stores in the upper segment, Hyundai's ambition is to "bring happiness to customers and enrich the world". Seoul is known for its shopping culture as many people frequent department stores. Today, with the e-commerce spike caused by the pandemic, Hyundai is questioning the purpose of physical retail and answering the call for drastic changes in the industry.

Occupying no less than 89,000 sqm across a total of 12 floors (including 4 levels of underground parking) gathering nearly 600 different shops, The Hyundai Seoul first of all offers great architecture. The skyscraper complex where it is located was imagined by Sir Richard Rogers. Various international architects and designers took part of the department store project such as Cmk Architects for the cosmetics and beauty area, and Diego Burdi and Paul Filek for women's and men's fashion areas. Landscape designers Woo Kyung- Mi Woo Hyun-mi Design took care of the vegetal parts of the mall.

Besides offering city dwellers a place where they can shop, experience cafes, restaurants and art, The Hyundai Seoul claims it is Korea's first eco-friendly department store, bringing together the concepts of nature and rest with shopping.

Opened in March 2021, the Hyundai Seoul also illustrates the end of a siloed business model which used to separate shopping, entertainment and communication. On the contrary, inspired by young generations and highly in line with social media posting, the department store merges the three businesses into one. IADS partner Nelly Rodi had the occasion to visit the Hyundai: check out what the new department store really has to offer and look at the collection of pictures provided

CHECK OUT THE COLLECTION OF PICTURES HERE

IADS Exclusive: The Hyundai Seoul: a case for hybrid department stores

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 2 November 2022.

The IADS had the opportunity to travel to Seattle to attend and report the Global Department Stores Summit, co-organized with Nordstrom. It was the occasion to review how the iconic US department store is articulating its attention to customers, which they claim to be superior to the competition in the country. On this occasion, we visited the Pine Street store (in the Seattle city centre), a location not as glamorous as the store at Columbus Circle in New York that we reviewed earlier this year.

What is so special about their service and how is it organized in store from the customer perspective? What are the learnings for other retailers? And most importantly, how is this helping in a city still bearing the scars of the pandemic, including a devastated "Retail Mile"?

CHECK OUT THE COLLECTION OF PICTURES HERE

IADS Exclusive: Nordstrom, sleepless retailer in Seattle

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 October 2022.

In a post-pandemic world, crafting an inclusive culture able at the same time to bond together employees and act as an element of motivation and pride is more important than ever, especially now that retail companies start to feel the pinch when it comes to attracting new talents. The IADS had the privilege to listen to Walter Robb, the former Co-CEO of Whole Foods Market, during the World Retail Congress in April 2022, on the topic of "conscious capitalism" and how, when properly implemented, it could help fuel growth for the company by creating an adequate corporate culture. This is the reason why we invited him to share his thoughts and vision when it comes to leading with a purpose, as well as to share the lessons he learnt during his 26-years-long tenure within the company.

IADS Exclusive - Innovative Thinking Series: former Co-CEO of Whole Foods, Walter Robb, shares lessons learned

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 October 2022.

Boyner in pictures

The IADS travelled to Turkey (now known as Türkiye) last June to meet with Cem Boyner, the CEO of Boyner Grup, a former IADS member, to get an update on his latest initiatives following the Covid-19 pandemic. Located between Asia and the West, often tarnished with its international policy decisions (to the shame of Turkish businessmen), and riddled with inflation (estimated at 78,35% for 2022, a 24-year high), it is easy to overlook the country and consider it done.

In reality, the retail market is buoyant, and many innovations are taking place, which made the trip all the more interesting as many of these innovations could be interesting for IADS members to look at. We review below our store visit, as well as the insights collected during the meeting with Hopi, Boyner Grup's data venture.

IADS Exclusive: Boyner, the "multi-brand lifestyle company" 

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 October 2022.

Greece in pictures

The IADS was invited to take part in the 2022 Future of Retail Conference organised in Athens last May by the Hellenic Federation of Retail. The Association was interviewed on stage, along with Mr Dimosthenis Boumis, the CEO of Attica, the emblematic Greek department store, and invited to discuss the future of retail in city centres.

It was also the opportunity to reconnect with old acquaintances, since the former CEO of Minion, a defunct department store in Athens, used to be a member of the IADS and is now a member of the Attica board. Attica has gone through the Covid-19 pandemic with the same difficulties as other department stores in the world and came up with a new strategy designed to rely less on international tourists (even though they remain more than welcome) and more on the local Greek clientele, from every social class. If appealing to the rich Greeks is not a head scratcher, the current social and revenue structure in Greece makes it a bit more complicated to appeal the to lower classes without losing glamour or soul.

We visited the City Link flagship, in the heart of Athens, very close to the infamous Syntagma square, in order to see how the store is implementing and executing the new strategy.

IADS Exclusive: Greece is going upmarket, but not only

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 October 2022.

IADS recently held a meeting all about the women's fashion brands to look out for in 2022. Based on market research, IADS and NellyRodi presented the most innovative brands from different segments of women's fashion: DNVB, designer, contemporary, young talents and everything in between! Check out our selection of these brands

IADS Exclusive - Brand Roundup: Women's Fashion

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 September 2022.

IADS Exclusive- Innovative Thinking Series: IADS interview with Marek Piotrowski, Retail Robotics 

The IADS recently sat down with Marek Piotrowski, Chief of Marketing Operations at Retail Robotics, a technology company that has been improving the efficiency and convenience of delivery and click and collect processes for e-commerce and e-grocery for more than 30 years. Marek Piotrowski has been involved in marketing and design for the entirety of his career working with top brands all over the world through advertising agencies where he utilized different successful strategies for a slew of brands. He joined the Retail Robotics team and oversees marketing, design, PR, and user experience at Delipop in France.

Delipop harnesses Retail Robotics' click-and-collect multi-retailer smart parcel lockers that serves as multi-brand or single retailer pick-up points. Delipop recently opened its first locations across Paris, so the IADS team decided to use the opportunity to take a first-hand look at the 'store front'.

IADS Exclusive- Innovative Thinking Series: IADS interview with Marek Piotrowski, Retail Robotics 

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 September 2022.

Pyrénées in pictures

Last May, the IADS had the occasion to travel to Andorra to visit the local landmark Pyrénées department store and meet with its leading team to understand where the company was heading. In Andorra too, the Covid-19 pandemic left its mark and forced retailers to rethink their business approach and positioning, especially in such a landlocked country normally living on touristic flows.

Even though the size of the business is relatively small when compared to other IADS members, the Pyrénées business case raises a set of interesting questions when compared to the rest of its local market:

-    What does loyalty mean for the Pyrénées customers? Is the game all about attracting local customers to the Pyrénées ecosystem, or making sure that tourists will return to the store? And what is the differentiation point: price, or selection?

-    How can a retail company stand out from the crowd in a country where the whole industry is based on duty-free product sales, from tobacco and liquor to fashion and accessories?

Given the specificity of the Andorran market and operations, such a visit was extremely informative as it helped to see another approach to differentiation and segmentation. Interestingly, in Andorra too, the game is not anymore to sell products (even at extremely competitive prices) but to provide a new, fresh and compelling experience both in-store and online.

IADS Exclusive: Pyrénées, building a destination within the destination

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 September 2022.

Inno in pictures

The IADS had the occasion to travel to Brussels and took the opportunity to visit Inno, the iconic Belgian department store celebrating its 125th year of activity this year and a founding company of the IADS. A new CEO was appointed in 2019 with a new plan, and this visit was the opportunity to take stock.

What can we learn from the Inno revamp? Where do they stand? To what extent the Belgian retail scene has evolved after the Covid-19 pandemic and where is the company heading?

IADS Exclusive - Inno in Brussels: the long-awaited awakening 

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 7 September 2022.