Cookie-Cutter Retail Models Are Crumbling: Where Does the Trail Lead?
As we move toward the future, we begin to see a plethora of new inventions, new ideas, and new terms introduced to us. One increasingly used six-word phrase Carol Spieckerman, President of Spieckerman Retail noticed is “in the newly created role of…” which is due to the increased use of technology and leveling up online.
Spieckerman said, “There’s a new cast of characters migrating in and out of retail and most of these folks no longer have traditional retail backgrounds.” With this “alien invasion” the structure of retail is shifting to encompass each business’ individual needs.
Organizations can no longer rely on predictable organization charts that helped them get started, Spieckerman noted these charts, “just won’t drive your opportunities going forward.”
Unprecedented roles have cropped up across a wide variety of industries and businesses. Walgreens has added a Chief Product Officer role, Lululemon has added a Global Creative Director and Home Depot now has an EVP Customer Experience career path.
Retailers like Crate and Barrel have switched up their internal order by expanding roles and creating new ones focused on the changing nature of the internet – the metaverse. With a new SVP of the Metaverse, Crate and Barrel is one of many retailers focused on invigorating their business with the creativity of the future.
What does all this mean? These “directional markers” show retailers willingness to switch it up and move forward – an inevitable process. Instead of fighting the system, these retailers have hopped onboard the shifting internet of things and begun to focus more intensely on the customer experience side of retail.
Each of the aforementioned retailers has selected a candidate with prior experience in areas they want to expand. Spieckerman said that Lululemon’s new Global Creative Director had previous experience working for Nike in category expansion, this indicates Lululemon is “looking for category expansion for growth.”
Whichever the case, the addition of new roles is obvious and incoming. Be prepared to adjust and excited to say the words “in the newly created role of” as we move into the future.
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