In the latest edition of Omni Talk’s Retail Fast Five sponsored by the A&M Consumer and Retail Group, Avalara, Mirakl, Ownit AI and Ocampo Capital Chris Walton, Anne Mezzenga, along with guest hosts from the Alvarez & Marsal Consumer and Retail Group David Ritter and Chad Lusk discuss 2024’s Retail Awards. In this short, they cover the most successful strategic decisions in retail this year, from Kohl's partnership with Babies R Us to Carvana's remarkable turnaround and Abercrombie & Fitch's successful brand reimagining. Learn how these companies transformed challenges into opportunities.
Key Moments:
0:02 - Introduction to strategic moves discussion
0:10 - Kohl's and Babies R Us partnership analysis
For the full episode head here: https://youtu.be/iyNND1vZe7A
This podcast uses the following third-party services for analysis:
Podcorn - https://podcorn.com/privacy
Transcripts
Speaker A:
Best strategic move from a struggling retailer or if you want to just go best strategic move that you saw in retail this year, that's okay too.
Speaker A:
And why don't you go first this time?
Speaker B:
Mine was Kohl's and Babies R Us.
Speaker B:
I think if something's going to help bring a younger demographic into Kohl's, like you've already got them coming for Sephora and I think Babies R Us and creating a baby registry for Kohl's shoppers, I think that was, that was a smart move.
Speaker B:
'm excited to look to that in:
Speaker A:
Awesome.
Speaker A:
Awesome.
Speaker A:
That's a good pick.
Speaker A:
Yeah, we've always been, always been curious to see what impact that's going to have.
Speaker A:
Yeah, like you said, we haven't seen any yet.
Speaker A:
Mine, actually, real quick, was she in the Children's Place?
Speaker A:
I love that move.
Speaker A:
I think it's a different distribution point for Children's Place and one that also potentially changes the economics of your DTC model long term and particularly in a category where delivery speed just isn't that important to you.
Speaker A:
And so I think that's an option that a lot more people should start to take a look at here and it honestly could be a threat to a lot of retailers should it start to take off as that option.
Speaker A:
But David, what about you?
Speaker C:
So mine's the non traditional retailer, but Carvana.
Speaker C:
So in:
Speaker C:
So since pretty low 99% rebounded from a low of $4 and now it's $230.
Speaker C:
And the strategy behind the turnaround was streamlining and cutting costs.
Speaker C:
It was improving customer experience.
Speaker C:
And then the last thing is they got smart and they went into ancillary services.
Speaker C:
So financing vehicle auctions.
Speaker C:
They just expanded the business model and they've rebounded.
Speaker C:
I mean, in a pretty darn impressive way.
Speaker A:
Yeah, that's a great pick.
Speaker A:
Wow.
Speaker A:
Yeah, kind of off the radar screen for us too here at the show.
Speaker A:
All right, Chad, what about you?
Speaker D:
All right.
Speaker D:
I had to redefine the category for David.
Speaker D:
So this is.
Speaker B:
You guys are just adding.
Speaker A:
This is.
Speaker B:
I love how you're just taking it into your own hands.
Speaker B:
The Omnis will be the A and Ms.
Speaker B:
And Chris and I will be the guests.
Speaker B:
Yes.
Speaker B:
I love this.
Speaker B:
Keep going.
Speaker A:
That envelope looks like the end of the Departed too, where he, like, scrapes out his name or whatever, you know, if you know that reference.
Speaker D:
But anyways, best strategy from a rebounding retailer.
Speaker A:
Rebounding retailer to it.
Speaker A:
Okay.
Speaker D:
Okay.
Speaker D:
And we.
Speaker D:
We've talked about this one already, so no need to.
Speaker D:
To mine it too much deeper.
Speaker D:
But.
Speaker D:
But it is Abercrombie and rebounding because they are coming off obviously a really good 23 as well.
Speaker D:
They were up 16% last year, up another 12 to 13% this year.
Speaker D:
We talked about kind of abandon, abandoning the legacy image and, you know, now creating, you know, accessible product designs.
Speaker D:
Feel good marketing from America's most hated retailer to being cool and hot again.
Speaker D:
And obviously the fashion retail market's not posting those numbers overall.
Speaker B:
Well, I can't disagree with that one.
Speaker B:
That's a good call.
Speaker B:
I think.
Speaker B:
Abercrombie, like I said, just go.
Speaker B:
Go give it a visit, people.
Speaker B:
Go check it out and see why.
Speaker B:
Why it's been so talked about in today's award show.
