Brick & Mortar Reborn

The Pulse of Retail: Insights from the NRF with Katherine Cullen

What is the NRF (National Retail Federation) and what do they do? Today’s guest, Katherine Cullen, is the senior director of industry and consumer insights for the National Retail Federation’s research team. That means that she leads NRF’s research on consumer spending and emerging retail trends. What does that information tell us about retail today?
Listen to today’s interview to learn more about it. You’ll hear what Katherine has to say about her own journey to the NRF, why in-location experiences remain so important, and what she has to share about Generation Z’s shopping and buying behaviors.
 
TOPICS DISCUSSED IN TODAY’S EPISODE:
Katherine’s background
What led Katherine to NRF
What’s changed over the last few years in retail
Why in-location experiences matter
Generation Z buying behavior
Advice for staying current for Generation Z while serving older consumers as well
How to engage with older consumers on digital channels
What Black Friday will look like post-COVID
How online channels serve in-store performance
Retail technology adoption that’s grown recently
New technologies that will impact shopping

SpotOn: Revolutionizing Local Business Management in the Digital Age with Doron Friedman

Over recent years, there have been many changes in what people expect from retailers. People want to shop locally, but they also want the convenience afforded to them by big retailers. SpotOn helps smaller retailers achieve that. Today, you’ll hear from Doron Friedman, co-founder of SpotOn.
Listen to the episode to hear more about Doron and SpotOn, and how SpotOn helps businesses. Learn how SpotOn’s clients use the service, how it helps them cope with changing trends and challenges, and why small businesses should be thinking about using alternative types of payment.
 
TOPICS DISCUSSED IN TODAY’S EPISODE:
✔ How Doron got to where he is✔ What types of businesses SpotOn brings on board✔ How SpotOn’s clients use SpotOn✔ Changes and trends that Doron has seen in customer behavior✔ How SpotOn helps brands with changes and challenges✔ Core technology needs that businesses have✔ What merchants get wrong about investing in tech✔ Why small businesses would want to introduce alternative payments✔ How smaller businesses can compete with bigger e-tailers✔ The big lessons that Doron has learned

Convenience Redefined: Pervez Pir on Loop’s Innovative Retail Strategies

Has the definition or expectation of convenience changed over time? The people who might best know the answer to this are people in the convenience store business – people like today’s guest.
Pervez Pir is the President of Retail at Loop Neighborhood Marketplace, and he has an important perspective on the value of convenience and convenience stores in the lives of the people who use those stores. Listen to the episode to hear what Pervez has to say about Loop’s retail strategies, what trends have changed in recent years, and what’s most important to creating the Loop experience.
 
TOPICS DISCUSSED IN TODAY’S EPISODE:
✔ What Pervez does now and how he got there✔ How Loop came about and how Perez got introduced to it✔ What Loop caters to✔ Why people love coming back to Loop✔ The strategy behind Loop’s locations✔ How the definition of convenience has evolved✔ Trends that have changed since the COVID days✔ What’s most important to the Loop experience✔ Why Loop’s customers visit so often✔ The lessons Pervez has taken from being in the convenience store business for so long✔ What’s going to change in convenience✔ Advice on how to grow in the convenience store business

Streamlining Business Operations: Tommy Yionoulis on OpsAnalitica’s Impact

When you’re a business operator, how can you make sure you’re on track, gather the information you need, and keep up with what your team needs and what they’re doing? The answer is good operations management. And that’s what today’s guest’s business does – operations management and analytics.
Tommy Yionoulis is the founder of OpsAnalitica. Previously he worked in restaurants and also did a stint as a stand-up comedian. Listen to today’s episode to hear what Tommy has to say about why he founded OpsAnalitica, what benefits businesses see from Tommy’s platform, and how his services work for brick and mortar businesses.
 
TOPICS DISCUSSED IN TODAY’S EPISODE:
✔ What Tommy is all about✔ What made Tommy start OpsAnalitica✔ Ops Analytica’s typical customers✔ The benefits of using Tommy’s platform✔ Changes that Tommy’s seen in the past few years✔ The data that helps operators manage their businesses✔ Challenges that Tommy sees operators facing✔ Tommy’s view of technology in the workplace✔ Operations management in brick and mortar industries✔ Advice Tommy would give to help operators streamline operations

Adapting to the New Retail Landscape: Dan Goldman on Customer Relationships and the Future of Retail

Retail has undergone a lot of changes over the past few years. In today’s episode, you’ll hear from Dan Goldman, strategic consumer and retail industry executive who explains what’s changed for the retail industry during the pandemic, the importance of focusing on creating closer relationships with customers and appealing to their motivations, and what Dan foresees for the future of retail.
 
TOPICS DISCUSSED IN TODAY’S EPISODE:
✔ Dan’s career and how he got in the clothing industry✔ Fun things Dan does in his current role✔ How things have changed for retailers during the pandemic✔ How to create a closer relationship with customers✔ Different motivators that are driving consumers these days✔ How store environments and associates interact with customers to build connections✔ Common mistakes that brands make✔ Dan’s definition of a great retail brand in 2022✔ Focusing on ways to connect with new customers✔ Dan’s suggestions for retail brands of the future

Navigating Franchise Opportunities: Lance Graulich on Assessing Readiness, Industry Insights, and Common Franchisee Mistakes

You can’t think about brick-and-mortar retail without considering franchises. Is a franchise right for you? Will a specific franchise work in your region of the US? How much work does it take to maintain a franchise? These are some of the important questions that a person must consider when thinking about franchising.
In today’s episode, you’ll hear from Lance Graulich, founder and CEO of ION Franchising. Listen to the episode to hear what Lance has to say about assessing whether a potential franchisee is ready, which industries are fun, challenging, or lucrative, and common mistakes that new franchisees make.
 
TOPICS DISCUSSED IN TODAY’S EPISODE:
✔ Lance’s background✔ What Lance does✔ Whether Lance has to assess whether people are ready to own a franchise✔ The most fun franchise brands Lance has been part of✔ When do you know whether to look into a franchise or start your own business✔ Whether some ideas only work in certain regions of the United States✔ How to test something that works in one region to see if it will work in other parts of the US✔ The most popular franchise categories✔ The most difficult franchise categories✔ Industries that are lucrative but challenging to get into✔ The right time to start franchising✔ Problems that up-and-coming franchisees encounter✔ Common mistakes of franchisee
✔ Advice for new franchisees

Sustaining a Century-Old Legacy: Jamie Richardson on White Castle’s Enduring Success and Family-Owned Resilience

White Castle isn’t as big as some other hamburger chains, but it is the oldest chain in the United States, and it remains family-owned even after 100 years, which is a big feat. In today’s episode, you’ll learn more about White Castle and why it remains a success so long after its initial appearance.
Jamie Richardson is the Vice President of Marketing and Public Relations at White Castle. Over the years, he’s also worked as a Regional Marketing Supervisor, Director of Marketing, and the VP of Public Relations, so he knows a lot about the company. Listen to the episode to hear what Jamie has to say about why he works at White Castle, why White Castle has stood the test of time, and why White Castle is a great place to work.
 
TOPICS DISCUSSED IN TODAY’S EPISODE:
✔ Jamie’s role✔ What brought Jamie to White Castle✔ What Jamie’s day to day looks like✔ Why White Castle has stood the test of time✔ Why the White Castle footprint is smaller than competitors✔ White Castle’s frozen food products in the grocery store✔ Initiatives that White Castle has been focused on✔ Changes to the brand over the last few years✔ The keys to a great dining experience✔ Advice for restaurants to grow and last as long as White Castle has✔ Why White Castle is a great place to work✔ How to keep a multi-location restaurant a desirable place for employees to work✔ White Castle’s new Strawberry-Swirl Cheesecake on a stick

Revitalizing the Department Store Experience: Matt Alexander on the Evolution of Multi-Brand Retail and Crafting Unique In-Store Experiences

What is different about selling your brand in a multi-brand, brick and mortar store? Is this a good idea for a direct-to-consumer brand that wants to add a brick and mortar option for customers? How does it work?
Today’s guest is Matt Alexander, the co-founder and CEO of Neighborhood Goods, a department store that sells a variety of different brands that fit the store’s guidelines and meet their customers’ needs. In today’s episode, you’ll learn about what led Matt to create a department store and how it works for brands.
Listen in to hear Matt talk about changes to the department store model, why a brick and mortar aspect is important for a brand, and how brands can build a better experience within a department store setting.
 
TOPICS DISCUSSED IN TODAY’S EPISODE:
✔ What Neighborhood Goods sells and how they work✔ How Matt started Neighborhood Goods✔ Use cases for brands that work with Matt✔ Why Matt thinks the department store model needs to change✔ Why online retailers are adding brick and mortar concepts to their strategies✔ Helping brands build experiences within the locations✔ The formula that makes brands successful in multi-brand stores✔ Matt’s advice for brands or people trying to get started in brick and mortar

Retail Robotics Revolution: Josh Baylin on Brain Corp’s Innovation and the Future Landscape of Automated Retail Spaces

How do robotics function in the retail world now, and how will they play into retail settings in the future? Today’s guest is working in the cutting edge of autonomous robotics and will explain a lot of the thinking around robotics in the retail space.
Josh Baylin is the Vice President of Product and Marketing at Brain Corp, a company that makes software that transforms manual machines into robots. Listen to the episode as he discusses how customers utilize Brain Corp products and who those customers are, what the use cases for Brain Corp’s products are, and what the future holds as more robot technology makes its way into the retail space.
 
TOPICS DISCUSSED IN TODAY’S EPISODE:
✔ Josh’s role at Brain Corp✔ Josh’s background✔ Brain Corp’s vision✔ Whether people are buying software, robots, or both from Brain Corp✔ Customers that utilize Brain Corp’s products✔ What the use cases for Brain Corp’s products are✔ Whether use cases have changed over the past few years✔ Things retailers should be thinking about when considering robot use✔ What the future holds for the adoption of robot technology in retail✔ What Josh has seem retailers hold in the front of their minds when thinking about robots✔ Misconceptions about robots✔ Initial challenges customers might have in implementing robot technology at their locations✔ How Brain Corp can provide a better in-store experience with robots✔ Whether Brain Corp has standard pricing, or if it’s more custom✔ What Josh sees for the future of robotic technology

Financial Fitness for Entrepreneurs: Tracey Bissett on Navigating Monetary Challenges and Building Sustainable Businesses

Having a great idea for a business doesn’t necessarily mean you understand how to best manage your money, make a financial plan, or handle cash flow. So where does an entrepreneur turn when they need to learn how to manage the financial end of their business responsibly?
They can turn to someone like today’s guest, Tracey Bissett. Tracey provides her clients with coaching. She prefers to frame it as teaching them how to become financially fit, rather than focusing on financial literacy. She helps her clients succeed by making sure that they understand how to manage their money in a smart way.
Listen to the episode to hear Tracey explain what her clients are looking for and how she guides them, the biggest mistakes she sees, and what main ideas she wants her clients to walk away with.
 
Topics Discussed in Today’s Episode:
✔ Tracey’s history and the company she runs✔ The types of clients Tracey works with✔ What clients reach out to Tracey for✔ What Tracey means by financial fitness✔ What are the “whys” Tracey gives clients to think about✔ Some of the biggest mistakes Tracey sees✔ Whether entrepreneurs know they are making mistakes by the time they come to Tracey✔ What most business owners are successful at when managing their money✔ Whether most business owners understand their financial statements✔ Whether Tracey has a few main components she wants clients to walk away with✔ Differences in how Tracey coaches from a geographic standpoint✔ Tracey’s process with clients✔ Why cash flow planning is important and how to set the price✔ Advice for growing a healthy and sustainable business
 
Resources:
Tracey Bissett
Money Meeting Agenda
 
QUOTES:
“I do have quite a few people reach out and start wanting to plan for a future-oriented business so they’re getting their business plan together.”
“Most people don’t decide to start their business not to get a paycheck.”
“It’s not that we’re solving all the problems immediately, but we’re quantifying them, and then they’re able to move forward with action steps to actually solve things.”
“If we’re trying to understand what they can or can’t afford, what I find is the easiest way to do that is build out a cash flow forecast.”
“If we can’t figure it out simply, with a piece of paper, we’re probably making it too complicated.”
“By knowing what we think is reasonably going to happen, either by looking at our historical results or what we have in our pipeline, or we know what trends are, we can start to see, are we going to have a need?”