This week's episode marks the second edition of "The Analysts" once again bringing together the sharpest minds in global retail. This time we welcome Sucharita Kodali, Vice President & Principal Analyst at Forrester Research, and Neil Saunders, Managing Director at GlobalData Retail for a lively, insight rich discussion about the future of retail.

The episode kicks off with U.S. retail sales results from the NRF/CNBC Retail Monitor and the US Census Bureau, which showed surprisingly strong growth despite inflation, tariffs, and shaky consumer sentiment. Neil and Sucharita explain why inflation-adjusted numbers tell a more modest story, while digging into the growing disconnect between historically low consumer confidence and healthy sales. They highlight how wealth concentration and media filter bubbles distort the economic picture, making retail performance appear stronger or weaker depending on perspective.

"The Analysts" then turn to the state of mega-brand retail turnarounds. Neil delivers a tough assessment of Kohl’s—calling it the “turnaround that never happened”—while offering cautious optimism on Macy’s and Gap, which are showing small but real signs of progress. Sucharita points to structural weaknesses in department stores but also notes resilience in Walmart, Costco, and dollar stores. Together, they weigh how tariffs, operational missteps, and consumer shifts complicate recovery.

Next up: AI in retail. Sucharita underscores that artificial intelligence isn’t new—retailers have relied on it for years in pricing, supply chain, and labor planning. The novelty lies in generative AI and so-called “agentic AI,” which she characterizes as incremental rather than revolutionary thus far. The panel agrees that while these tools can deliver efficiency, they’re unlikely to transform the top or bottom line soon—though Amazon’s deep AI and automation investments continue to give it a strategic edge.

Looking ahead, holiday forecasts are mixed. Deloitte predicts growth under 3.5%, while eMarketer forecasts just 1.2%. Neil and Sucharita expect more resilience driven by consumers’ determination to celebrate. The panel also highlights Amazon’s bold logistics move to fulfill orders for Walmart and Shein, underscoring its unmatched infrastructure advantage.

The discussion closes with Steve, Michael, Neil and Sucharita each offering what's on their radar screen, including Saks Global’s financial turbulence, macroeconomic signals like inflation and jobs data, and AI’s potential labor impacts.

About Us

Steve Dennis is a strategic advisor and keynote speaker focused on growth and innovation, who has also been named one of the world's top retail influencers. He is the bestselling authro of two books: Leaders Leap: Transforming Your Company at the Speed of Disruption and Remarkable Retail: How To Win & Keep Customers in the Age of Disruption. Steve regularly shares his insights in his role as a Forbes senior retail contributor and on social media.

Michael LeBlanc is the president and founder of M.E. LeBlanc & Company Inc, a senior retail advisor, keynote speaker and now, media entrepreneur. He has been on the front lines of retail industry change for his entire career.

Michael has delivered keynotes, hosted fire-side discussions and participated worldwide in thought leadership panels, most recently on the main stage in Toronto at Retail Council of Canada’s Retail Marketing conference with leaders from Walmart & Google. He brings 25+ years of brand/retail/marketing & eCommerce leadership experience with Levi's, Black & Decker, Hudson's Bay, CanWest Media, Pandora Jewellery, The Shopping Channel and Retail Council of Canada to his advisory, speaking and media practice.

Michael produces and hosts a network of leading retail trade podcasts, including the award-winning No.1 independent retail industry podcast in America, Remarkable Retail with his partner, Dallas-based best-selling author Steve Dennis; Canada's top retail industry podcast The Voice of Retail and Canada's top food industry and one of the top Canadian-produced management independent podcasts in the country, The Food Professor with Dr. Sylvain Charlebois from Dalhousie University in Halifax.

Rethink Retail has recognized Michael as one of the top global retail experts for the fourth year in a row, Thinkers 360 has named him on of the Top 50 global thought leaders in retail, RTIH has named him a top 100 global though leader in retail technology and Coresight Research has named Michael a Retail AI Influencer. If you are a BBQ fan, you can tune into Michael’s cooking show, Last Request BBQ, on YouTube, Instagram, X and yes, TikTok.

Michael is available for keynote presentations helping retailers, brands and retail industry insiders explaining the current state and future of the retail industry in North America and around the world.

S03 - Wrap Up Discussion with Pete Peppers

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