Taking a Look Back at Shop.org 2017

At the end of Sept., Mariana and I ventured to the West Coast for Shop.org 2017: This is Digital in Los Angeles. We were excited to see what NRF had in store for the re-invigorated annual conference.

Shop.org Gets a New Focus and a Fresh Look

Until now, Shop.org’s focus had been squarely on eCommerce. This year, however, NRF shifted the event’s focus to include all things digital, bringing new vendors, perspectives and content into the limelight.

Having attended last year’s Shop.org in Dallas, I can say that the show sure did look different! NRF refreshed the branding with brighter, flashier colors and created more inviting, well-designed spaces on the show floor for attendees to gather for networking, meetings and meals.

Another great addition and surprise was Monday evening’s networking cocktail party. The cocktail party was held remotely at the famous Shrine Auditorium, which over the years has served as home to both the Emmy Awards and the Academy Awards. It was quite a spectacle, with a red-carpet entry hosted by Melissa Rivers, dancers in giant balloons and a genie floating above the crowd.

Retail Innovation Lounge Takes the Popcorn

https://www.flickr.com/photos/nationalretailfederation/36671293053/in/album-72157689435287445/
Image Source: NRF

During Shop.org, we had the privilege of spending most of our time in the Retail Innovation Lounge (RIL). Ketner Group’s good friend, Anne Marie Stephen, founder and CEO of kwolia, invited us to once again serve as the media partner for RIL and support her on site. As we mentioned in our previous blog, this was the first time that kwolia and NRF partnered to bring the event inside the conference.

Over the course of the two-day event, we saw nearly 600 Shop.org attendees stop by the RIL. While the fresh popcorn might have helped (as overheard on the Shop.org shuttle), we were told repeatedly that the content presented at RIL was some of the best at the conference. The Amazon Power Block, featuring sessions from Bryan Eisenberg, author of “Be Like Amazon,” and retail marketing agency TPN’s interactive workshop, drew the biggest crowds.

Ketner Group has been lucky enough to have seen the Retail Innovation Lounge since day one, when it kicked off during SXSW in 2016, and boy, has it grown in the past 18 months! We can’t wait to see what RIL has in store for the retail community in 2018 and beyond.

What’s Next for Shop.org

Shop.org planning is already under way for 2018 and the event is scheduled to take place in Las Vegas, where organizers are hoping to draw big crowds once more.

INFLUENCER INSIGHTS: STEVE DENNIS

A Ketner Q&A with Steve Dennis, President of SageBerry Consulting

What technology trend do you see most impacting the field?

In the short-term, technologies that help create what I like to call a more “harmonious” experience will add the greatest value.  Brands need not only remove the friction of shopping cross-channels, but find a few things to do remarkably well.  Medium-term I look to artificial intelligence and machine learning to help retailers create smarter more personalized experiences. Longer-term, virtual reality has the potential to be transformative.

How do you most like to stay up to date on trends?

I read a lot of different newsletters, attend a few high impact conferences and follow a handful of industry leaders who have a great pulse on what’s going on in retail (like Scott Galloway as just one example) or more broadly on innovation and consumer behavior (like my friend and first business partner Seth Godin).

What’s the best piece of personal or professional advice you’ve been given?

Accept the things you cannot change.

How did you get involved in the industry? 

I got laid off from a job and wanted to stay in Chicago. I focused on consumer oriented companies that were in need of innovation and a place where I could quickly advance my career. Though a series of event I ended up going to work for Sears way back in 1991. Aspects of that decision worked out better than others.

What are three things we wouldn’t guess to be true about you? 

Given how much I put myself out there in social media and speaking some folks are surprised that I’m really pretty introverted. Second, I hate to shop. Lastly, given my interest in Buddhist philosophy I struggle with how many brands often appeal to consumers ego in shallow or meaningless ways.

What do you think is the biggest change occurring in the retail industry? 

Most consumer journeys now start in a digital channel and many brands are utterly unprepared for that.

What do you do for fun?

My first love is travel, followed closely by a strong love for learning, which usually plays out through reading and seeking out new experiences that challenge my worldview.

 


About Steve Dennis

Steve is the President of SageBerry Consulting, a strategic advisory firm focused on innovation and growth strategy for retail, luxury and social impact brands. His perspectives on digital disruption and the reinvention of retail are shared through keynote speeches, in the press and as the author of one of the industry’s most popular blogs. Steve is also a retail contributor for Forbes and has been named a top retail influencer by multiple organizations. He has consulted and/or spoken on six continents and still holds out hope for doing a keynote in Antarctica.

Prior to founding SageBerry, Steve was SVP, Strategy & Multichannel Marketing for the Neiman Marcus Group where he drove major growth initiatives and led the company’s multi-channel integration, loyalty marketing and customer insight strategy. Earlier in his career he held senior leadership positions with Sears, including Chief Strategy Officer and VP of Multichannel Integration.

Steve is the immediate past Board Chair of Social Venture Partners Dallas and serves on the advisory boards of the United Way’s Ground Floor Initiative, Education Opens Doors and Invodo.

He received a BA in Economics from Tufts University and an MBA from the Harvard Business School.

 

The State of the Retail Workforce

It seems like clockwork that every few months, weeks or even days we see people panicking about robots taking over the world. Being one of the eye-grabbing headlines out there, many publications are very willing to suggest that entire industries will be destroyed by technology (or maybe millennials). This fear of change, along with talk of the so-called “Retail Apocalypse” (which was appropriately debunked on our blog last month), has left some questioning the future of the retail worker.

However, there’s no need for associates to worry. The truth is that there’s still plenty of opportunity for them to thrive in today’s landscape—as long as retailers are investing in them.

Is eCommerce Making Associates Irrelevant?

As eCommerce continues to grow and evolve, many facets of retail are being disrupted every day. However, research shows that consumers still value in-store shopping and the presence of retail employees.

According to ChargeItSpot, 63% of consumers believe that store associates are “extremely important” when they shop, with an additional 29% calling associates “somewhat important” to the experience. Meanwhile, Shopify suggests that 78% of consumers prefer to shop in-store. Their research also states that consumers tend to spend more time shopping in-store than on a retail website and spend significantly more money in-person.

The industry isn’t shrinking either. According to the Bureau of Labor Statistics, employment of retail sales workers is projected to grow 7% by 2024, about as fast as the average for all occupations.

It’s clear that not every consumer prefers to shop online. While it’s true that shoppers demand an easy and frictionless shopping experience, sometimes forcing them to Amazon, there’s still opportunity for in-store associates to thrive – especially if they can enhance the shopping experience for customers.

Investing in the Workforce

With the demand for in-store associates still present, a large share of the responsibility falls on retailers to give associates the necessary tools to succeed. Yet, according to research from Cisco, just 6% of retailers’ investment priorities are focused on improving employee productivity. Fortunately, stores are realizing that this needs to change.

An investment in technology can arm workers with the resources necessary to truly offer the customer-centric experience that’s necessary to excel in retail today. Also, with successes, workers will be far more likely to stay with their employer— an important benefit considering the traditionally high turnover within the industry. In fact, a recent Salesfloor study found that 72% of hourly retail associates are more likely to stay with a retailer if they have the right technology and resources, and two-thirds said access to digital tools and technology is a must-have at a future retailer.

It’s easy to think that robots, AI and Amazon will steal the roles of the retail associates in the world. However, this simply isn’t true. With strategic investments in employees and technology, stores can assure that associates are as productive as possible, customers receive the stellar service they expect and the in-store shopping experience remains key to commerce.

Client Spotlight: Austin-Based Shopgate Relies on PR To Tell Its Story the Right Way to the Right Channels

Ketner Group loves telling our clients’ stories – it’s what we (said in our best Ursula the Sea Witch voice) LIVVVVE for. Not only that, we always strive to develop client relationships that are based on complete trust sprinkled with a little bit of fun – a true partnership.

Soon after the Ketner Group started working with Shopgate almost a year ago, the account team (which includes yours truly) knew right away this agency-client partnership was going to be a gem! In just over nine months, the Ketner Group account team and the amazing Shopgate marketing team have developed a finely-tuned PR engine. Together, we have increased Shopgate’s presence and thought-leadership in the otherwise crowded space of mobile shopping platforms, secured some high-value media placements and of course, have had a lot of fun along the way!

Check out our recent Q&A with Amanda Laviana, Shopgate’s marketing communications manager:

KG: What are the best things about being an employee at Shopgate?

SG: I most enjoy the autonomy and flexibility of working in a company (and field) that’s ever-evolving. Particularly, I enjoy the efficiency of working on a lean team, where accountability and versatility are the most valued characteristics of every team member.

KG: Why did Shopgate decide to engage with a PR firm? What challenges were you facing prior to deciding to hire an agency?

SG: We knew we had a great story to tell, along with a great product to promote, but were having trouble effectively relaying it to the right channels. With a small team already overwhelmed with the everyday upkeep of a full marketing calendar and strategy, PR was falling to the back burner, and we identified our lack of a strategy there as a major roadblock. We’d produced so much great content, and had so many exciting announcements, features and changes that we knew would be relevant to our industry peers and prospects, yet we hadn’t properly amplified any of it. We needed a dedicated team devoted to this endeavor, and knew using an agency would give us everything we needed.

KG: Why did you select Ketner Group?

SG: We selected Ketner Group after meeting a few members of the team at industry events, and after understanding their expertise and experience in our particular field and region. After meeting the rest of the team and understanding their proposed strategy, we knew we’d make an excellent team. They really understood our needs, goals and roadblocks.

KG: Ketner Group and Shopgate have been working together for almost a year. What have been the most successful results through your engagement with Ketner Group?

SG: During our tenure of working with Ketner, we’ve been so impressed with the results we’ve seen. We’ve secured coverage in virtually all of the publications we had on our “goals” list. This has included Inc., App Developer Magazine, Mobile Marketer, Internet Retailer, The Next Web and a slew of others, including many relevant local publications key to our employer branding efforts. Our brand, product, clients and leadership team have been featured in interviews, commentaries, podcasts and articles across so many channels. We really can’t overstate how valuable the coverage has been in building brand awareness and reaching new audiences.

KG: What peer advice would you give to a fellow tech vendor looking to develop a PR strategy? 

SG: Utilize the experts! Doing it alone can be appealing in the beginning, but the opportunities you miss by not having a team dedicated to promoting your story through earned media are invaluable. Whether you utilize an agency or not, a successful PR strategy depends heavily on your proactivity. Being involved with and on top of every opportunity – and finding your own opportunities – will make all the difference in the amount of coverage you yield, as well as the relevant relationships you’re able to forge.

What to Expect at Shop.org 2017

Image: Shop.org, NRF

The Ketner Group team is gearing up for the busiest time of year for our retail clients, and we’re kicking things off with Shop.org, Sept. 25-27, in Los Angeles.

This year, Shop.org is focused on bringing fresh content to attendees with keynotes from Tyra Banks and Kobe Bryant and a number of new opportunities to network and engage with industry peers. In addition, Shop.org has partnered with Fast Company to provide a unique series of sessions focused on innovation. We’re excited to see all of the changes at Shop.org this year!

KG Clients at Shop.org

A number of Ketner Group clients will be attending and exhibiting at Shop.org this year. These clients include:

Columbus Consulting

Founded in 2001, Columbus Consulting comprises of a team of highly experienced specialists in retail systems and processes. Through a combination of pragmatism, innovation and years of experience, they deliver services ranging from strategic insight to tactical project delivery. Their experience stems from holding executive responsibility in retail, and from successfully managing some of the most challenging projects in the industry. At Shop.org, Columbus Consulting will be available to discuss the benefits of unified commerce and the need for retailers to have a single view of real-time inventory as they head into the holiday sales season.

DynamicAction, Booth #1519

DynamicAction is the most advanced analytics solution specifically built for eCommerce, store and omnichannel retail merchandising teams. Connecting and analyzing millions of data points from every part of the retail organization, DynamicAction uses more than 600 proprietary algorithms to pinpoint margin-eating disconnects in the business, prescribe precise actions and accurately rank those actions by financial impact. During Shop.org, DynamicAction will be previewing the data for their upcoming Retail Index benchmark report as well as discussing how retailers can arm themselves with an Amazon Plan for the holidays.

GroupBy Inc., Booth #639

GroupBy Inc. recently acquired Edgecase, becoming the first data-driven e-commerce platform available for e-retailers. The acquisition merges the eCommerce search and merchandising provider with a data-driven product intelligence platform to create the most comprehensive cross-channel digital commerce solution to-date. At the show, GroupBy will be sharing new customer projects and deployments.

Linc, Booth #541, 1800

Linc’s customer care automation platform powers the digital experiences that strengthen the relationships between brands and shoppers, transforming one-time purchasers into lifetime customers. Brands, retailers and CPGs leverage Linc to provide their customers with exceptional tracking, return and exchange experiences, and create new revenue channels via personalized upsells, cross-sells, sampling and product re-ordering. At their booth, Linc will be providing a preview on its upcoming platform features and discussing how TechStyle Fashion Group is working with Linc to maximize its customer care efforts.

Mirakl, Booth #1205

Mirakl gives retailers and brands a fast path to increase customer value by launching an online marketplace. The Mirakl Marketplace Platform automates the hard things: seller onboarding, product data management, service quality control, and order distribution; on an API-based solution that’s modular and easy to integrate. Over 130 customers operating marketplaces in 40 countries trust Mirakl’s proven expertise and technology, including Hewlett Packard Electronics, Best Buy Canada, Carrefour, Darty, Galeries Lafayette and Halfords.

Shopgate, Booth #319

Shopgate‘s leading SaaS platform enables online retailers to easily create, maintain and optimize native apps and mobile websites for the iPhone, iPad, Android smartphones and tablets. Shopgate uses cutting-edge marketing features such as one-click payments, mobile coupons and advanced push notifications to help merchants connect with consumers on the go. During Shop.org, Shopgate will feature a new customer win as well as discuss newly added features to its platform.

We’re happy to help you arrange a meeting with any of these clients during the show.

Retail Innovation Lounge at Shop.org

Over the past year, we’ve had the privilege to work with Anne Marie Stephen from kwolia and help support the Retail Innovation Lounge at various industry events. This year, NRF and kwolia are partnering to bring the Retail Innovation Lounge to the Shop.org show floor, Sept. 26-27.

The partnership provides a unique “lounge and learn” experience at the retail industry’s most important event for digital commerce. A dedicated stage in the Retail Innovation Lounge features curated content and programming with exclusive, inspiring content focused on today’s most successful retail strategies and concepts.

The Retail Innovation Lounge also includes lounge areas for networking and relaxation, games, a happy hour bar and demo space for sponsors. More information and a detailed agenda can be found, here.

If you plan on attending Shop.org this year, feel free to reach out to us to schedule a meeting or find us in the Retail Innovation Lounge. We’d love to see you there!

#TexasStrong— Hurricane Harvey and The Texas Spirit

This past week, Hurricane Harvey brought historical havoc to the Texas Coast, making landfall right in Rockport, Texas and traveling all the way to Houston, where it proceeded to sit stationary for five days and dump the equivalent of what The National Oceanic and Atmospheric Administration compared to as “the biggest waterfall in Niagara Falls continuously pouring on Texas for nine months.”

Early estimates on Hurricane Harvey’s impact on the retail industry have come in at about $1 billion in losses. However, the entire impact is yet to be seen as the flood waters slowly subside and reveal the full impact of the devastation.

That is not to say that this natural disaster has only brought darkness and gloom. In the face of disaster, we have not only seen retailers step up to the plate to help out the victims of Harvey, but we have also seen technology and people play an important role in recovery and rescue efforts like never before.

Retailers give back to their consumers
While it is estimated that retailers will lose an enormous amount of money from Hurricane Harvey, that has not stopped retailers from stepping in to help with recovery efforts. This week alone, we saw retailers large and small pledge donations to aid hurricane victims. Notable retailers included Walmart, Amazon, Lowe’s and the Home Depot.

Technology aids first aid
As Hurricane Harvey pounded on Texas, emergency lines throughout the state became extremely saturated, leaving people waiting to be rescued. However, thanks to social media efforts, such as people reaching out for help on Facebook and a walkie talkie app called Zello, civilians were quickly able to mobilize alongside first respondents to aid in water rescue efforts.

The Texas Spirit
On a personal note, I had the privilege of calling Houston home from age six until age 20, when I moved away to college. My family and I immigrated to Houston, Texas from Guadalajara, Jalisco when I was in first grade and my immediate family still resides in Houston.

Growing up in Houston completely shaped the person I am today. It is the place where I met my best friends who are now more family to me than just friends. It is the place where I met my husband and extended my family. And it is the place that taught me you can find unity amongst diversity.

As an immigrant to the U.S., Houston provided a completely welcoming environment as I found myself in a melting pot with diverse cultures from all over the world. The mural in the heart of downtown Houston reads “Houston is Inspired,” which is a true testament to the heart of the city. Whatever culture you currently find yourself in the mood to explore, Houston provides it. From Greek to Chinese to Japanese to Latin, you name it and chances are, you will find a unique spot or festival that brings you closer to this culture within Houston. In the mood for a little space exploration? A little drive down toward the coast will get you there.

This week was extremely heartbreaking to watch as my family and friends were personally affected by Hurricane Harvey, losing things they have been working for their entire lives. Amid the heartbreak, however, it was also inspiring to see those friends and family come together alongside complete strangers from all over the U.S. to help with water rescues and volunteer at shelters to help victims feel safe and protected. Through it all, the friendly spirit that Texas is known for has demonstrated hope and resilience in the face of catastrophe.

We still have a long road to go as far as recovery goes, beginning with the beautiful coastal areas of Rockport, Port Aransas and Port O’Connor, all the way down to Houston and well into the state of Louisiana. However, if the efforts are anything like what we’ve already seen this week, then Texas is sure in for an amazing journey.

If you are interested in helping with recovery efforts, here is a good list of where to begin.

Meet Our New Intern: Jenna Jordan

This blog post was written by our intern, Jenna Jordan.

Hello everyone! My name is Jenna Jordan, and I am Ketner Group’s new intern. This is my final semester as a public relations major at the University of Texas at Austin and I am so excited to be spending it with Ketner Group.

I was born and raised in San Antonio, and stuck close because I am a family girl. Although I only have a brother, I have more than a handful of cousins, aunts and uncles who always find themselves together each weekend. Besides spending time with my family and studying for class, you can find me reading, exercising, swimming, or FaceTiming my incredibly neurotic but lovable dog, Scout. While I’ve stuck close to Texas all my life, I do have the travel bug and hop on a plane whenever I have the chance. This summer, I was lucky enough to visit Cancún and New Orleans, and I am already making plans for Europe next year.

Before joining Ketner Group, I interned with a local Austin nonprofit and assisted the founder with coordinating events, increasing membership and running social media. This past spring, I was an intern for a lifestyle public relations company here in Austin. With my team, I juggled about eight restaurant and hotel clients, all in different stages with distinctive needs. I got to try my hand at pitching to media and was included inclient communication, which was an insightful way to see both the client and the agency side of public relations at work.

During my freshman year at UT, I was convinced I wanted to be a publicist for celebrities in Hollywood, but once I realized the number of long nights that came with that career path, I turned my attention to what I was learning in class. On top of public relations, taking business and creative writing classes showed me that I not only love writing, but I also love marketing, and seeing how marketing and public relations interact.

Coming from an office of less than 50 people, I didn’t think I would join an even smaller agency – but I’m so glad I found Ketner Group! Just by our team meeting on my first day, I can tell everyone here is hands-on and interested in the work they do.

I’m so excited to kick off my semester with B2B and retail technology, especially with the holiday season fast approaching!

 

Ketner Group Moves to Dublin

Lebron James famously once said, “I’m taking my talents to South Beach.”

But this isn’t about Miami. Or basketball. Or my next multi-million-dollar contract.

In fact, this post is about moving to another iconic place – a wonderful, scenic little island famous for its coastline, culture and pints of heavy black beer. And while there is no South Beach in the North Atlantic, I could not be more excited to be the lone Ketner Group team member calling Ireland home for the next 12 months.

Over the past few decades, Ireland has emerged as a cultural hot spot, benefitting from a booming tourism economy driven by golf, ancient castles and Guinness. Now economically humming once again, after a sharp crash in the recent global recession, Ireland is a destination not just for those seeking leisure on a grand soft day, but for the international technology firms that benefit from a highly educated workforce, low corporate tax rate, and welcoming population.

As an Irish-American armed with a passport from both nations and a background in retail technology, it’s fascinating to see how the country has changed from the first time I came here as a young child. Of course, sheep still create traffic jams on country roads the width of your driveway, but there is a buzz in the air of Dublin and Ireland’s other cities as its global potential starts to be recognized.

From Facebook to Google to Airbnb and Apple and so many more, Ireland has recruited some of the world’s most important technology companies to its shores. Of course, with Brexit leading to concerns about access to the European market, many more are expected to follow. The Irish-American business bond is catching up to the personal bond created by waves of Irish emigrants to American shores. The Irish culture of innovation is threatening to catch up to the rich culture of its history, a promising premise for the country, and for those who are lucky enough to call it home.

Of course, it’s only been my home for less than two weeks, but I can’t wait to play my small part in keeping that connection strong and growing.

KG’s Top 10 Favorite Newsletters

The retail industry is rapidly changing every day, and sometimes, it can be hard to keep up. That’s why our team stays up-to-date by subscribing to newsletters that will alert us on breaking Amazon news, inform us of a good responsive pitch opportunity, or give us insight on an interesting new study. Here are our top 10 favorite newsletters to help us stay in-the-know with all things retail and technology:

Industry Dive
“Broken out by vertical – Retail and Supply Chain Dive are my top picks – Industry Dive newsletters offer a combination of breaking news and industry insight I find incredibly useful to my day-to-day work and my overall understanding of the industry. Even the format of the articles, which each include a few summary bullets at the top, makes scanning the news for relevant content simple and convenient.” –Aidan Griffin

L2 Research’s “Winners and Losers” Series
“L2 Research’s weekly ‘Winners and Losers’ video, featuring the hilarious and brilliant Scott Galloway, is a fantastic recap of the brands that are thriving (or not) in the digital age. It really is the best of both worlds for me! I get a data-driven, sometimes provocative, overview of the best and worst performing brands, AND, Professor Galloway always makes me giggle with his crazy, end of video antics. It’s a must-see!” – Catherine Seeds

RetailWire
“RetailWire’s daily newsletter includes three discussion topics that offer great insights into what industry thought leaders consider to be hot topics and it’s a great opportunity for our clients to participate in those ongoing trend discussions. RetailWire’s round up of top headlines is also provides quick reference guide for the biggest industry news of the day.” – Adrienne Newcomb

RIS News
“I’ve turned to this for a long time as another good weekly summary of top news items. It often includes some information gleaned from earnings calls, and it has interesting info on retail technology deployments.” – Jeff Ketner

eMarketer Retail
“This is a newsletter I only just signed up for recently, but have already found to be a valuable resource for data-driven trends. No matter what sort of story or content piece I’m working on for a client, it seems like eMarketer Retail always delivers a relevant data point, consumer study, or industry survey that I can reference.” – Aidan Griffin

IHL Group
“IHL publishes an “Eye on Retail Top 10 News Items” every Saturday, and it’s a succinct summary of the week’s top retail news stories from numerous sources. What I like about it: It comes out on Saturday morning, when I don’t get many emails and my inbox isn’t overflowing – and it nearly always has something useful to me.” – Jeff Ketner

RSR’s Retail Paradox Weekly
“As the tagline says, it’s ‘The Candid Voice in Retail Technology.’ The analysts’ insights into industry trends and happenings are both frank and entertaining – I recently found myself laughing out loud at Paula’s ‘Fake News’ article and her attempt to edit a Wikipedia page.” – Adrienne Newcomb

Sourcing Journal
“Sourcing Journal provides a lot of information you can’t find anywhere else, with a good focus on sourcing and manufacturing. They always have up-to-date information on the industry’s challenges and opportunities and is a great resource for anything related to compliance, sustainability, global trade and more.” – Stacy Lan

Retail TouchPoints
“Retail TouchPoints has a great weekly newsletter that explores the biggest trends throughout retail. I especially enjoy their research studies and features that dive into how retailers are using technology to excel and improve their standing in the industry. Editor-in-Chief Debbie Hauss does a great job curating this content in a way that has me looking forward to it every Tuesday.” – Greg Earl

Fortune Data Sheet
“Fortune Data Sheet provides the latest breaking news across the tech industry, highlighting the top trends taking our world by storm. Combine this with the fact that it lands in my inbox at exactly 8 am. each day and you’ve got the perfect tool to stay up to date.” – Mariana Fischbach

As a PR and marketing agency, our team needs to be on top of news and trends to craft story ideas and pitching opportunities that work best for our clients. These newsletters, and much more, help us leverage the timeliest conversations happening in in this exciting and transforming landscape. Check them out yourself to stay informed on what’s trending in retail technology!

Retail Apocalypse or Retail Reinvention?

What’s the biggest “fake news” story of 2017? Surprise, it has nothing to do with politics!

Instead, it’s the narrative of the “retail apocalypse” that has dominated media coverage of the retail industry this year. The term picked up steam in early 2017 amid reports of large numbers of store closings, and yes, legacy retailers and chronic underperformers including Sears, Radio Shack, Kmart, JCP and many others have announced massive store closings.

It is true that some malls and retailers are experiencing a world of hurt. As Sageberry Consulting’s Steve Dennis says, though, “regional malls — and their department store anchors – have been on the decline for more than two decades.” In many cases, the result of massive overbuilding and speculation – adding that “many dying malls are being killed by other malls” in faster-growing areas.

The real news story is that retail sales are up 4% year over year (and they are) and, simply put, the retail industry isn’t dying!

According to the NRF, retail sales increased 4.1% in the first quarter of 2017 compared to 2016, as our analyst friends Paula Rosenblum and Greg Buzek point out. In Buzek’s words, “we have a $4 trillion industry that is growing at a rate of over 4% year to year – that’s nearly $100 billion in growth in 5 months…And somehow this is bad news?” This latest growth isn’t an outlier, either; retail sales have grown nearly 4% annually for the past seven years!

Retail employment is also up, hardly the thing you’d expect in an apocalypse. In fact, retail jobs have grown by 1.5 million since early 2010, so store closings and layoffs haven’t dented retail’s overall upward trajectory. Store openings are on pace to surpass store closings this year, too. Buzek’s research firm, IHL Group, says the retail industry will see a net gain of 4,000 stores this year – again, not the sign of an industry in decline.

Need more proof? As CNBC reports, “there are more leaders than laggards in retail today, according to Moody Investment Services. Dollar stores, home-improvement chains, convenience stores and auto-parts retailers are among the leaders…off-price retailers, supermarkets and office-supply chains are also reporting more growth lately.”

We’re not in the midst of a retail apocalypse. Instead, we’re seeing retail reinvention with exciting new concepts and brands (TreeHouse, B8ta, TOMS, Warby Parker), new entrants in the U.S. market (Lidl and Aldi have taken the U.S. grocery industry by storm), continued disruption by ecommerce players, and bold moves by the giants of the industry, Walmart and Amazon. Amazon just placed the biggest bet of its life with its acquisition of Whole Foods – does anyone think Amazon is buying into the myth of the retail apocalypse and the death of physical stores?

As always, the real story is much more exciting than the fake news. And it’s good to see so many people setting the record straight about the retail industry.