Page 4 - 2019 Delegate Assembly Conference

Welcome and Kick-off General Session

REENGINEERING RETAIL

Alibaba, will continue to grow unabated, as they
build data repositories of buyers’ purchasing habits
and preferences. As three companies claim 40
percent of the ecommerce market share by as
early as next year, the challenge will no longer be
convincing people to buy online with confidence;
it will be customers receiving all the items they’ve
bought online within a shrinking window of time
expectations. Mobile traffic will also play an
increasingly greater role in retail transactions, as it
becomes more efficient.

“My belief is this is the end of the beginning of

ecommerce. I believe we have a long runway
The Future of Selling in a ahead,” Stephens said. “Here’s the prize:
Post-Digital World $27 trillion worth of retail economy that’s still

Speaker: Doug Stephens, Founder and President, Retail up for grabs.”
Prophet
When consumer futurist Doug Stephens The New Role of Stores
reassured Goodwill leaders that he believed
physical stores are here to stay, one could In areas of particular relevance to Goodwill,
almost hear the collective sigh of relief Stephens sees the resale market growing 21 times
emanating from Goodwill CEOs and board that of the world’s apparel industry. However, in the
members attending Delegate Assembly. Yet, in middle of the market — where most brick-and-
the next breath, the founder of Retail Prophet mortar retail lives — retailers continue to struggle.
said the traditional retail store model is nearly And, while online retailers continue a strategy of
obsolete, requiring a complete change in opening physical stores, the purpose of those
mindset and orientation to reimagine it. stores has changed.
The World’s Global Retail Landscape What is happening, Stephens said, is that media
channels are becoming the stores, with every
Stephens' keynote address took Goodwill leaders media vehicle leading to a direct path to purchase.
on a tour of the global retail landscape, which On the flip side, stores are becoming the media.
is dominated by the accelerated growth of
ecommerce. With online transactions totaling “I would argue that your stores are the most
$2.9 trillion in 2018 — a 22 percent hike year powerful, manageable and measurable media
over year — online giants, such as Amazon and channel you have to teach your consumers in a
meaningful way,” Stephens said.

“Stores are where we can reach people and really affect their perception of

the brand. We need to stop thinking about stores as places that distribute

product. We need to start thinking about stores as places that distribute

experiences with the product and the brand.”

2 – Doug Stephens, Retail Prophet