Steen & Strom in pictures

The IADS had the occasion to travel to Finland, Sweden and Norway to visit Stockmann, NK and Steen & Strom respectively. All those three venerable companies, true institutions in their countries, have started a transformational post-pandemic journey in order to become destinations again in their respective cities.

At a moment when tourism is starting again and the three countries seem relatively immune to the difficulties created by the war in Ukraine, we review where they stand, their innovations worth noting and why their transformation is far more than just a revamp or a digital reset: for at least two of the three companies, they are challenging their own business model to the point of admittedly literally learning a new job.

Let's embark north of the 60th parallel to see what is going on!

This third part is dedicated to Steen & Strom in Norway.

IADS Exclusive - Steen & Strom: no longer the Nordic Tom Thumb

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 August 2022.

With Covid, the search for wellness has become increasingly important for consumers. In a survey from McKinsey, the global wellness market was estimated at USD 1.5 trillion in 2021, with a predicted annual growth of 5 to 10%. In this survey, 79% percent of the respondents said they believe that wellness is important, and 42% consider it a top priority.

As a consequence, retailers started to tip toe in this relatively unknown part of the business, in the intersection of beauty, sports practice, health products and services. Selfridges first launched a wellness program in February 2022. Dubbed "Superself", the initiative included paid sex counselling sessions, confidence coaching sessions and other services to help customers live a "brighter lifestyle". This month, they are transforming their Corner Shop into "The Feel Good Bar", a well-being destination focusing on sex and sleep-enhancing products and services. The cinema at Selfridges will also be part of the program, converting into a sleep session area. Health-based experiences like acupuncture sessions, IV drips, bio-hacking, and oxygen therapy will become available later this year. Also in the UK, on top of a cosmeceutical space, Flannels partnered with Barry's Bootcamp to open a gym in their new Liverpool store. In the US, mental health initiatives developed in the past months for instance at Walmart, CVS and Rite-Aid drugstores.

In France, last year, Monoprix launched "La Santé au Quotidien", a new department dedicated to products that are in between traditional beauty offerings and medical treatments. In March 2022, Le Printemps Haussmann store also launched a new beauty floor gathering beauty services such as manicures, pedicures, brow services, hair products and a salon, dermo-cosmetics and food supplements, as well as a spa developed with the Face 2 Une beauty tech brand, proposing no gender services through manual massages and machines. Next September, using a more confidential approach, Le Bon Marché will also open a permanent 150 sqm beauty salon.

Obviously, initiatives are plentiful but Galeries Lafayette goes further than any other department store in the wellness business. Last week, and after a year in the making, they opened the "Wellness Galerie" in their Haussmann store. On 7 July, Alexandre Liot (Haussmann Store Director) and Arthur Lemoine (Offer and Buying Director) unveiled the new floor. The IADS attended the floor visit for you, and we are delighted to report back this exciting member news.

IADS Exclusive - Wellness: the next step in Galeries Lafayette's makeover 

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 July 2022.

Among the many consequences for retail stemming from the Covid-19 pandemic, which we are exploring at length, a major one is the international tourism crash and the closure of China, which historically steadily contributed to department store companies' growth in the past years. Even considering the recent closures taking place in Shanghai, Beijing and other Chinese cities, the business has flourished domestically for the past 2 years in China and the acceleration of retail digitization has also taken place there. The road seems to be still very bumpy, but there is definitively a light at the end of the tunnel. What can we learn from what took place in China and are there lessons to have in mind? To answer this question, we interviewed two specialists from Mobile Now Group and Clientela.

Mobile Now Group, founded in 2009, is a development studio with a focus on digital experiences, products, and platforms. With offices in Shanghai, Hangzhou, and Changsha, in addition to their Singapore office, they have a commanding understanding of the Chinese market and its evolution. They have worked on more than 100 projects with leading companies in the world such as Richemont, Cartier, IWC, Montblanc, Sephora, DFS, Hennessy, Lane Crawford, Shiseido, NARS, SMCP, La Samaritaine, and others.

Clientela, a software company based in New York founded in 2010, has developed a complete suite of acquisition, clienteling and retail operations for stores, in order to cater to customers' needs through an optimal experience, while maximizing efficiency and profitability for retailers. They have developed solutions for several leading global brands, such as Cartier, Benefit Cosmetics, Marc Jacobs, Chloé, MaxMara, and Carolina Herrera, and they have led a pilot project with IADS member Magasin du Nord in Denmark.

Mobile Now and Clientela partnered in 2020 realizing that retail clients needed a global clienteling approach that brings together two important approaches:

• The maturity and knowledge of global clienteling best practices,
• The specificity of the Chinese digital ecosystem, especially in mobility, social commerce, and O2O commerce.

We interviewed Thomas Meyer, co-founder of Mobile Now, and Arnaud Barbelet, COO and partner at Clientela. Thomas spent 20+ years in Asia (14 in China) and most of his career in tech and mobile development before co-creating Mobile Now Group 12 years ago, with experiences at Wunderman, OgilvyOne, and WPP among others. Arnaud has 18+ years of experience in start-up development centred on customer approach and understanding. He brings a complementary eye to what's going on in China and helps draw conclusions for retailers from other regions.

IADS Exclusive - Transformation in retail: Innovative Thinking Learnings from Chinese social media: a talk with Mobile Now and Clientela

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 13 July 2022.

NK Review in Photos

*The IADS had the occasion to travel to Finland, Sweden and Norway to visit Stockmann, NK and Steen & Strom respectively. All those three venerable companies, true institutions in their countries, have started a transformational post-pandemic journey in order to become destinations again in their respective cities.

At a moment when tourism is starting again and the three countries seem relatively immune to the difficulties created by the war in Ukraine, we review where they stand, their innovations worth noting and why their transformation is far more than just a revamp or a digital reset: for at least two of the three companies, they are challenging their own business model to the point of admittedly literally learning a new job.

Let's embark north of the 60th parallel to see what is going on!

This first part is dedicated to NK in Sweden.*

IADS Exclusive - NK: the luxury leader learning to sell 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 06 July 2022.

The Stockmann Review in Photos

*The IADS had the occasion to travel to Finland, Sweden and Norway to visit Stockmann, NK and Steen & Strom respectively. All those three venerable companies, true institutions in their countries, have started a transformational post-pandemic journey in order to become destinations again in their respective cities.

At a moment when tourism is starting again and the three countries seem relatively immune to the difficulties created by the war in Ukraine, we review where they stand, their innovations worth noting and why their transformation is far more than just a revamp or a digital reset: for at least two of the three companies, they are challenging their own business model to the point of admittedly literally learning a new job.

Let's embark north of the 60th parallel to see what is going on!

This first part is dedicated to Stockmann in Finland.*

IADS Exclusive - Stockmann: from near-bankruptcy to reconnecting with innovation and profits

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 June 2022.

The Dutch Retail Tour in photos 

Taking the opportunity of the kick-off celebrations of Vanderveen's 125th anniversary in Assen, the IADS visited three Dutch department stores at the end of April 2022: De Bijenkorf and Peek & Cloppenburg in Amsterdam, and Vanderveen in Assen.

In the Netherlands, the department store business is mainly led by De Bijenkorf, running seven locations throughout the country. Peek & Cloppenburg (accounting for approximately 75 stores in Germany and now owning Magasin du Nord), runs 4 stores in the Netherlands. Finally, Vanderveen has a single location in Assen and is still run by the Vanderveen founding family.

Differences are huge between these three businesses. Each targeting specific customer groups, they offer a particular take on department stores, from international luxury to mass-market and ultra-local purpose. A review in pictures is also available to the IADS members.

IADS Exclusive - Dutch department store tour: from international groups to family-owned business

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 22 June 2022.

The Lacoste Arena in photos 

Lacoste (part of MF Brands Group, owner of Manor) has 1,100 stores in 98 countries but didn't have any flagship stores until 19 May 2022 when they opened their first one on Paris' Avenue des Champs-Elysées, which can seem surprising for a company which topped the €2bn sales as early as 2016.

Dubbed "Lacoste Arena", the brand new 3-storey store displays on 1,600 sqm no less than 9,500 products, from footwear to ready-to-wear for men, women and kids. The store is all about showing and emphasizing the link between fashion and sport, by balancing experiential spaces, entertainment corners and sales areas, to address all types of shoppers: fashion and streetwear fans, sport addicts or consumers looking for sustainability.

The IADS had the opportunity to enjoy a private tour of the store. Besides the expected (and now necessary) experiential features, what are the key store highlights? Is this flagship a fair example of what the store of the future could be? How is CSR included? You can also dive in deep by having a look at the store review in pictures here.

IADS Exclusive - Lacoste Arena: a case for experiential 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 15 June 2022.

During the World Retail Congress in Rome in early April 2022, the IADS had the opportunity to be part of the panel interviewing retail veteran Ron Johnson. This IADS Exclusive issue is a transcript of the interview and fits perfectly into our Innovative Thinkers series, launched last September. Listening to Ron Johnson, his past experiences, questions and successes, casts a new light on some of the ideas that he pushed forward in some of his tenures, especially at JC Penney, at the light of what happened during the pandemic. Also, he shares an interesting retrospective vision of his own career and how he contributed to changing the way retail works, either through successful initiatives, but most often, in his own words, with "things that did not work".

IADS Exclusive -Innovative Thinking Interview with Ron Johnson, CEO and founder of Enjoy

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 June 2022.

In Europe alone, subscription models and paid memberships account for EUR 350 billion. Consumer goods 'only' represent 15% of the total business. Illustrating such expectations and following up with last year's Exclusive about subscription retail, the IADS gathered the latest initiatives in paid membership.

IADS Exclusive -What's new in paid membership? Developing but restrained by global uncertainties

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 June 2022.

The ongoing digitization of department store companies involves integrating new and very different teams, reinventing the jobs of the existing ones, and finding a common motivating purpose for all of them. In that sense, there are some similarities between what Best Buy went through and what IADS members are currently trying to achieve. Take a look at what the former CEO of Best Buy had to say on the matter.

IADS Exclusive - Innovative Thinking Series: The turnaround of Best Buy: a fireside chat with Hubert Joly

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 May 2022.

Nordstrom announced on March 1st the launch of their own Retail Media Network (RMN) with the "Nordstrom Media Network" initiative. Trade marketing and side advertising revenues from brands are not new to retailers. So why is this piece of news interesting for department store companies?

IADS Exclusive: Are Retail Media Networks the new El Dorado for 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 18 May 2022.

Check out the photos here

The IADS visited Rome for the World Retail Congress early in May and took the occasion to visit La Rinascente and Coin Excelsior, among others, for a store review and an innovation spotting session.

To what extent has the Covid-19 pandemic forced local department stores to evolve, in the same way that Paris, Madrid, London or Milan had to follow suit? Has Rome, which is usually lagging behind the economical capital of the country, managed to take that opportunity to upgrade its department store scene?

IADS Exclusive: Rome Retail Tour: Is it still la Dolce Vita for retail in Rome?

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 11 May 2022.

Spring/ Summer Window Displays Photo Deck 

IADS consolidated 2022 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.

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 04 May 2022.

IADS recently held a meeting all about the cosmetics & beauty sector. Based on market research, the IADS team presented the most innovative brands from different segments of the cosmetics & beauty brand industry: skincare, makeup, haircare, fragrances, and everything in between! Check out a selection of these brands!

IADS Exclusive - Brand Roundup: Cosmetics & Beauty

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 27 April 2022.

Teaming up and buying together in order to reach scale economies seems like a natural step for international department stores, since the goal of these large retail organisations has always been to reach optimization in terms of procurement to maximize margins. In addition, since they are usually operating on national markets, an international collaboration seems logical.

This is the reason why international retail associations, such as the IADS, have explored the subject for years, trying to articulate a working solution for their members, be it at the material level for private labels, at the product or label level for national brands, or even by suggesting to team up to buy or create from scratch shared brands which could be seen as private labels for a group of stores.

We are reviewing in this paper a series of options drafted by the IADS dating back to 2001, in order to draw some conclusions and put them in comparison with what we know today.

IADS Exclusive - The long sought-after opportunity of collaborative procurement

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 April 2022.

Blocher Partners (bp) was founded 30 years ago in Germany by Jutta and Dieter Blocher. From the very beginning, their approach was transdisciplinary. Along with their client needs, they added new competencies to their practice: interior design, product design, but also marketing and communication solutions. Thanks to their recognized know-how in the development of retail spaces, they were soon labelled as retail architects. They could offer clients holistic concepts, always putting the customer in the centre of actions and the thinking process. For getting in touch with their clients in an early stage and really understanding their needs, Blocher Partners lately expanded their business by the field design strategy: early in 2022 'Blocher Partners sens' was established. Erik Schimkat who leads the new entity, is an interior designer who has specialized in co-creative design research methods. These are of great importance when it comes to unveiling unseen potential and pushing ideas towards new boundaries. For this interview we had the chance to talk to both Jutta and Erik about innovation and transformation in the retail business.

IADS Exclusive - Interview with Blocher Partners

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 13 April 2022.

The IADS visited Dubai in early March for a joint meeting with the International University of Monaco and the American University in Dubai, who will be collaborating with the Association on Private Labels-related research topics. The IADS took the occasion to visit the Dubai Mall and the Mall of the Emirates to review the department store scene in Dubai, we have included pictures for your review.

Most of the department stores available in Dubai are operated through franchised agreements. Is there anything new in their approach, has any decoupling taken place, or, on the contrary, did the Covid-19 episode tighten the links with the mother companies? And to what extent does their service offering reflect the evolution of the market? We have tried to draw some conclusions from our visit in addition to the pictures that are available separately.

IADS Exclusive - Dubai Retail Tour: how are the franchised department stores doing?

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 06 April 2022.

Paris has gone through significant retail upgrades in the past 2 years, with the opening of La Samaritaine in June 2021 and the general stores and branding overhaul at Galeries Lafayette in September 2021. Printemps in Paris is no exception to these retail changes, with a revamp of their own.

IADS Exclusive - Le Printemps revamp in Paris: what is new?

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 30 March 2022.

The IADS interviewed Scot Case, the Vice President of Corporate Social Responsibility and Sustainability at the National Retail Federation (NRF), who has been in the sustainability space since the mid-1990s. From his experience, sustainability is the intersection of three key aspects: business, environmental, and social issues.

IADS Exclusive - Innovative Thinking Series: IADS interview with Scot Case (NRF) on Sustainability

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 March 2022.

Keeping markets under close watch, IADS collected new, beauty-oriented store concepts from retailers around the world. This series shows various themes, experiences and displays, illustrating the richness and diversity of the beauty retail industry.

IADS Exclusive - Retail Review: Beauty Concepts 

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 March 2022.

In December 2021, the European Union announced plans to use digital product passports to boost the circular economy and to gain a better view on the full lifecycle of various products, including textiles. The overall goal would be to prevent these items from ending up in landfills and to keep them in circulation, either as broken down raw materials to be reused or to be repurposed. Nowadays, it is expected that products should last longer, be repairable, and be recyclable. The major problem is that the information revolving around product components and recyclability is easily lost, but the EU believes that these digital product IDs can be the change that industries need to better promote circularity.

IADS Exclusive - Product Passports: bringing transparency to retail 

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 09 March 2022.

IADS recently held a meeting about the home and decor sector. Based on market research, the IADS team and NellyRodi presented the most innovative brands from different segments of home and decor: furniture, home appliances, home accessories and electronics. Check out a selection of these brands!

IADS Exclusive - Brand Roundup: Home and Decor

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 March 2022.

In early 2021, the IADS Academy participants were set the task by their CEOs of suggesting ways to develop a truly omnichannel P&L and related KPIs relevant to department stores. Their proposals covered several areas including KPIs and data sharing (see Presentation to CEOs at IADS General Assembly, 28 October 2021; and IADS Academy 2021 report). One of the proposals called for the development of "omni-clusters" of customers. The IADS has attempted to develop this idea.

IADS Exclusive: Omni-cluster for omnichannel

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 February 2022.

Many experts were predicting a retail apocalypse, but no such thing happened. Although it's true that the retail cursor is increasingly adjusting between physical and online channels, retail as a whole is also going through a major transformation, more and more developing omnichannel solutions and in-store experiences. Showrooming is an option to develop experience, and this has even become the very purpose of some retailers.

It's especially accurate with Situ Live, launched in London in 2021, and with B8ta, a US company operating since 2015. Both their approaches to retail have a lot in common. The brands featured in their respective stores are oriented towards innovation. The focus is put on product's added-values and on an immersive shopping experience. Both companies are advocating for a radical change in what physical retail should offer to consumers. Even though the term 'phygital' has been overused, Situ Live and B8ta are a fair expression of what it can be, as they are stores, show rooms, and IRL websites at the same time. What is interesting to know about these retailers? What can department stores learn from them?

IADS Exclusive- Business Case #10: Situ Live and B8ta Experience through showrooming 

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 February 2022.