Tag: retail analyst

Influencer Insights: Greg Buzek

Posted on | by Ketner Group

A Ketner Q&A with Greg Buzek, Founder and President of IHL Group

What technology trend do you see most impacting the field?

The single biggest trend for retail is how they compete with Amazon. Retailers must get to Unified Commerce with a single view of the order and single view of the customer regardless of how they choose to shop. And then they need updated POS technology at the store level to take advantage of these changes. Customers used to HAVE to shop, now they need a reason to WANT to shop your stores. This change is having dramatic impact on the number of stores, the alignment of personnel, and total operations. Retailers that make these changes and create a compelling reason for shoppers to visit your stores will survive and thrive. Those that don’t won’t be here much longer.

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

We read massive amount of news, and talk to a lot of retailers and non-retailers. I like to spend a lot of time on bleeding edge technology sites to understand new technologies and then think through how these might be applied to retail. Certainly conferences and vendor information plays in here as well. But we always look at these things with a minimum 3 year lens before actual deployment anywhere. Retailers are notoriously slow at technology adoption. We have to filter through the “might be” to try and forecast what likely “will be.”

How do you recommend PR professionals reaching out to share news?

Announcements just to announce a product or new person or new office are fine for local newspapers, but what really gets the attention of analysts and influencers are actual customer wins and anything with $$$ in the headline. Customer wins or case studies are most important. Otherwise you are asking us to sort through hundreds of pieces of news and determine what is real and what is vaporware.

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

Always leave a situation better than you found it. Whether a customer relationship, vendor relationship, or simply borrowing a tool from someone….leave the other person better off than when they found you.

How did you get involved in the industry? 

Before college, I worked at Hardees, Sears, Skyline Chili and a small restaurant in Cincinnati called J&Js. Once I went to college and graduate school, my first job out was with NCR and I was given that challenge of competitive analysis of the industry. This was an incredible blessing based on what I do now since most new hires only learn about their company, I was forced to learn about all the other companies in the industry. This served me well when I created an analyst firm 20 years ago.

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

I dotted the i in Script Ohio performed by the Ohio State Band (wasn’t supposed to), I still may be one of the only Catholics to sing in the Mormon Tabernacle choir for a day and I got kicked out of my college dorm as a sophomore in college.

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

The decoupling of IT Spend for this year based only on a figure of last year’s revenues. Most retailers still look at IT as a cost of doing business and thus tie this year’s spend to last year’s revenues and growth. Those retailers who do that fail to see that Amazon has changed the game.  66 million U.S. homes now have Amazon Prime Accounts with Free 2 Day shipping. Amazon is an endless aisle retailer that is almost always in stock, supported by Amazon Web Services which is the largest and greatest value Infrastructure as a Service platform. Retailers that don’t realize that IT transformation is not only needed but critical to survival and don’t spend the required funds for turnaround will simply not be here 3 years. 

What do you do for fun?

I’m an avid sports fan. My son and I have for the last several years done a college football tour around the country. We love to go to different schools and enjoy the traditions and the game.

About Greg Buzek

Greg Buzek is the Founder and President of IHL Group and one of the Founders of the Retail Orphan Initiative, a charitable foundation that seeks to help the 400 million orphaned and vulnerable children around the world. In 6 years, RetailROI has been involved in 80 projects in 17 countries helping an estimated 158,000 children through clean water, education, computers, language training and care. Noted by RIS News as one of the “25 Most Influential People in Retail” and the National Retail Federation in 2015 as one of “The List of People Shaping Retail’s Future”, he has a Masters Degree in Business Administration (MBA) from The Ohio State University, and 25 years of experience in retail market analysis, business planning, product development, and consulting with Fortune 500 companies. In 2011 The Congressional Coalition on Adoption Institute honored Greg with the first ever Paul Singer Award that recognizes business and governmental leaders for going above and beyond their defined roles to advocate for better adoption and foster care policies worldwide.

Influencer Insights: Paula Rosenblum

Posted on | by Ketner Group

A Ketner Q&A with Paula Rosenblum, Co-Founder and Managing Partner at RSR Research

As we enter the start of the holiday shopping season, what technology trend(s) do you see most impacting the field?

Cloud, obviously. But that’s not holiday season only…it’s a trend that’s moving around the industry. Oddly, it seems more vendor-driven than retailer-driven, but retailers do seem to be starting to embrace it. And price comparison shopping is only growing in power.

What are your go-to resources for staying up to date on retail and hospitality trends?

I subscribe to a ridiculous number of publications, both B2B and B2C. The Wall Street Journal reportage has improved, Bloomberg has Shelly Banjo, who is a great source of accurate reportage, Reuters has Phil Wahba, Smartbrief is a good content aggregator and I receive several of those. I also read Twice, Advertising Age (that’s a really good one, actually) and Forbes. My friend Walter Loeb is my best source for department store related information. He’s also my role model. He’s 91 and still going strong. I want to be like Walter when I grow up!

What would you most like for people to understand about Retail Systems Research?

We don’t do any competitive intelligence whatsoever. We are all about market intelligence and understanding broad trends currently happening in the retail industry today. We try not to look too far into the future, since there are too many things that once seemed impossible that suddenly become possible. We are the most pragmatic, objective and practical people we will find, and we’re a fascinating blend of talents.

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

Be fulfilled, be happy, and be kind. Above all, strive to be fulfilled in yourself, not by things. And remember, it never costs a penny to be kind.

What do you do for fun?

I’m an amateur photographer, and love to go out shooting with a long lens. I also still love spending time down in St Croix where I can snorkel and visit with my friends, the fish! In a month or two, I’ll love driving around in my convertible in Miami as well. Right now, I’m hunkered indoors because it’s so bloody hot and muggy!

About Paula Rosenblum

Paula Rosenblum is co-founder and Managing Partner at RSR Research and is widely recognized as one of the industry’s top retail technology analysts. She was selected as one of the “Top 50 Retail Influencers” in 2014 and 2015. She also writes a weekly blog for Forbes. Previous to her 12 years as an analyst, she spent over 20 years as a retail technology executive and CIO at companies including Hit or Miss, Morse Shoe, Domain Home Fashions and others. Paula received her MBA in 1991 from Northeastern University, with a major in management of High Technology firms and was nominated to the Beta Gamma Sigma honor society. She’s active in a variety of organizations supporting human growth and development, and has been involved with the RetailROI charity since its earliest days.