FOR THE LOVE OF RETAIL: IS THE AFFAIR OVER?

with a decades long career in the retail industry one thing is crystal clear — the time for change is now ❤️

The social uprising combined with a global pandemic and an ever evolving consumer base have compelled industry insiders to look at how we do things and look for better, more inclusive practices...

“COVID-19, societal justice, systemic racism and discrimination and a volatile political climate have rocked the retail world.  Could the obstacles and challenges facing retail be the end of this relationship for me and countless others?”

America’s love of the retail experience was born years ago when the first commercials aired, and people began to imagine themselves owning the newest and latest home and personal products.  Retail therapy was a way of making people feel better and provided a path to a better way of living.  For those involved in the industry itself, retail was more than a job, it became a ticket to opportunity.

My own lifelong love affair with retail began in my childhood and lasted throughout my 40-year career.  For me, retail has been a source of joy, creativity, self-expression, pride and, at times—frustration.  As a teen, I was mesmerized by my first retail job in a men and boy’s clothing store in Kalamazoo, Michigan.  No matter the job, I was crazy excited—cleaning bathrooms, sweeping floors, taking out trash, or unloading trucks—all of it made my heart race.

It wasn’t the mundane tasks that caused my heart to quicken.  It was the adventure.  Retail was my ticket to see the world.  I went from cleaning stores to top-level management positions with some of the world’s leading retailers—The Gap, Old Navy, Dayton Hudson, Kohls, TJX Corporation (TJ Maxx), and Ralph Lauren.  In these roles I not only traveled extensively, I also helped to shape the present and future of the next phase of retail.  

Fast forward to today and my love affair is on shaky ground.  COVID-19, societal justice, systemic racism and discrimination and a volatile political climate have rocked the retail world.  Could the obstacles and challenges facing retail be the end of this relationship for me and countless others?

DEATH, TAXES & CHANGE:

It has been said that there are only two things in life that are certain—death and taxes.  However, I must add to that list.  Change is the one true constant.  Retail has gone through many changes since I first worked at the men’s store in Kalamazoo.  I have seen the industry adjust and adapt to its environment and consumer demands, but never have the challenges been greater than what the industry is facing in 2020.  Underperforming stores; the battle between online sales versus brick and mortar; along with oversaturated markets have contributed to a constant state of change.  2020 has magnified these issues and unleashed obstacles and challenges that cannot be ignored.

Retail as an industry is undergoing the most critical shift in history.  The stability of retail’s future as we know it is in question.  The industry has been rocked by multiple threats that have caused significant erosion to the foundation of its actual survival.  Store closures, major reductions in head count, tremendous loss of square footage in multiple communities around the country coupled with mall closures have accounted for an enormous loss in sales revenue, jobs, and impacted livelihoods. Truth be told, uncertainties exist at every turn.  In fact, according to tracking by Coresight Research, U.S. retailers are expected to announce between 20,000 and 25,000 closures this year, with 55% to 60% of those located in American malls.  If that wasn’t enough, add complications stemming from a global pandemic in COVID-19, and the issues continue to multiply.

With real issues such as increased costs; bankruptcies and store closures; reduced sales; loss of rent; rampant unemployment (30 million people out of work); systemic racism; social unrest; COVID-19 and its ramifications; and a lack of diversity among senior level staff, decision makers and board members; it’s easy to believe that we’re at the end of an era.

“All great changes are preceded by chaos.” – Deepak Chopra

From the outside looking in—well from the inside looking out as well—we are most definitely in a chaotic phase.  How quickly and well we learn and adapt will ultimately determine the future of retail.  Historically, the retail industry has proven its resilience and ability to adapt and change.  But now more than ever, we’re at a critical moment in time and it’s going to take all voices and all perspectives working together to implement real, lasting changes to move the retail industry into the future in a positive and meaningful way.

We’ll need to think differently, innovate and be nimble in adapting to change and creating opportunities to try new ways of thinking, being and doing.  How well and quickly we can be creative and responsive to the new demands of a vastly changing landscape will determine our viability and sustainability for the future.

My love affair with retail began long ago, and the face of retail is no longer the same as the one I encountered as a young man in Kalamazoo, Michigan.  But retail remains an important part of everyday life for countless people.  We must answer the call to innovate, pivot, adapt and embrace change to create new ways of serving customers while engaging more intentionally with societal and community issues.  Gone are the days when retailers could focus solely on products, services, and sales.  We are in new times and sailing uncharted waters.  COVID-19, societal unrest and the calls for increased diversity, equity, and inclusion at all levels of organizations will require a new approach.

Retail is not dead.  But perhaps it’s time for some counseling or group therapy.  Let’s remove the stigma and have the best minds—diverse minds—commit to helping guide the industry through these challenges.  We are all in this together and we must all grow and evolve to thrive.  If we open our minds, listen to all voices, think differently, act differently and take appropriate measures, we can make a difference. 

Join this journey.  Share your love of retail by participating and providing your input and insights as we navigate through these challenges. We’ll be asking tough questions, creating opportunities to open dialogue with thought leaders and retail professionals, and dive into challenges and potential solutions that will hopefully grow our industry into a better, stronger and more equitable partner worthy of our ongoing love and admiration.  Are you in? Let’s do this. We look forward to the discussion.

About the author: Co founder of the MAS Project, Aubrey Avery Jr. has over 40 years experience with some of the Nation's most beloved retailers. His love and passion for retail has always been about assisting individuals and companies be their best; and sharing his knowledge on how to get there. His smile is contagious and his motivation is focused on being an agent of change: to enhance total performance both for people and business. Simply put, retail is his chocolate cake and ice cream.