The End of the World as We Know It. Apologies to R.E.M., but even though we may not (yet) feel fine, things are better. Attendees at PRSM2018 saw the improvement first hand. Just about every metric surrounding PRSM’s seminal event improved between 2017 and 2018.
Buck Up. Why then is there still so much public pessimism regarding physical retail? The easy story is to focus on the negative aspects of today’s retail. The real story (for those media adept enough to report on it) is that the revolution continues. That revolution, boiled down to its basics, is that the physical retail experience matters more than ever. Online retail is a method to shop if speed and a physical experience are not important. But, with the right experience, there are few retail purchases that are not enhanced by an in-person or in-store dynamic.
Overheard at PRSM2018’s Keynote. One of the most mesmerizing parts of Gary Vaynerchuck’s speeches is when he addresses tough times. To say that Gary relishes a challenge is a huge understatement. He goes so far as to (rubbing his hands together) chide the forces of business doom – asking out loud (with Gary … very loud!) to bring it on. Why would anybody wish that upon themselves? With Gary, it’s a combination of confidence and the rare ability to filter out negative feedback – or more accurately, to feed off negative feedback. Physical retail could benefit from this line of thinking.
What Customers Ask of Physical Retail. Clean, safe, efficient shopping experiences are now the ground floor of survival in today’s retail. Our customers are looking for more. The Internet is coldly clean, efficient and (depending upon content filters) safe. What online cannot replicate is the feel of a new product, the experience of trying that product out in a store, or the vibe of a multi-use shopping space where a customer can be sold to, fed and entertained within one city block, food hall or plaza. Retail has what customers are looking for – the ability to deliver a complete shopping and entertainment experience.
PRSM Association’s Role in the Revolution. As this retail revolution continues, your PRSM Association will continue to evolve as well. PRSM2018 attendees experienced some of those changes with our highly interactive exhibition floor, growing Retail Quick Connect opportunities, and relevant education and professional development sessions. Later this year, we will bring PRSM Association from PRSM-HQ (and our usual event lineup) to our members with increased local events and presence. These local efforts will expand upon our successful Retailer2Retailer Roundtables with the addition of energy seminars and other timely educational content.
2018 is Shaping Up as a Banner Year (Ignore the Doom and Gloom). In this issue of Retail Store Maintenance, you will see prime examples of our industry seizing this retail revolution opportunity. We’d love to see and hear your story as well – let PRSM Association know where you are, and we’ll be there!
By: Bill Yanek, PRSM CEO
