Jerry Storch, Storch Advisors
What does the former Chairman and CEO of Toys “R” Us and former Vice Chairman of Target have to say about the future of retail?
Host Jeffrey Hayzlett talked to Jerry Storch about the current state of the retail industry and what the future holds for the industry as a whole. Hayzlett starts by asking Storch about his thoughts on whether the retail industry is dead, to which Storch said, “It’s not dead. It’s actually growing quite rapidly.” He adds that 2018 was a “fantastic year” for retail but feels they’re currently going through a revolution. Storch says that in order to understand what’s going on in the industry, one has to understand the economics of the business. He also points out the three categories that retailers need to have in order to win in business – 1) Own their own content, 2) Be a low-cost producer, and 3) Be an arms merchant. Storch states that businesses need to have a strong omnichannel model, be very good at customer/data relationships and have scale in order to be able to compete in a crowded marketplace.
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