What Just Happened

In this conversation between Christine Russo and Brandon Singer, CEO and founder of Retail by Mona, Singer discusses the inception of his company during the pandemic and its unique positioning in the real estate market, particularly in New York City. He highlights the resurgence of retail activity in the city, particularly among luxury brands, and delves into the trend of luxury brands purchasing their real estate rather than leasing, as a long-term investment strategy. The discussion also touches on the evolution of neighborhoods like Meatpacking District, driven by factors such as tourism, office presence (notably Google's), and the appeal to both locals and visitors. Singer further discusses Retail by Mona's innovative approaches, such as utilizing text messaging for communication and leveraging social media presence for property marketing. He emphasizes the company's collaborative internal structure, contrasting it with the traditional competitive model in the industry. Russo acknowledges the significance of Retail by Mona's approach, praising its ability to adapt to modern business practices and foster a more inclusive and effective work environment. Singer concludes by highlighting the practical success of these strategies and expressing gratitude for the insightful conversation. www.retailbymona.com

In this episode of "What Just Happened," Christine Russo interviews Pano Anthos, the Founder and Managing Director of XRC Ventures. Pano emphasizes the consumer-centric approach of their venture, highlighting their focus on startups at the intersection of consumer behavior and technological advancements. With a team of 12, they support around 140 startups across three funds, prioritizing innovations that directly impact consumers rather than enterprise-focused solutions. Pano discusses the current state of venture capital, noting the apprehension among VCs due to concerns about inflated valuations and market volatility. He emphasizes the importance of unique solutions addressing significant problems in today's market, as investors are becoming increasingly risk-averse. Despite the challenges, Pano remains active in early-stage investing, particularly in the retail sector, where he sees significant opportunities for technology-driven solutions. The conversation delves into various topics such as the evolution of AI, retail technology trends, and the importance of data-driven decision-making. Pano shares insights into the future of personalization, retail operations, and sustainability in commerce. He discusses the potential of AI-powered virtual assistants and the need for businesses to adapt to changing consumer behaviors and technological advancements. Additionally, Pano highlights innovative approaches to sustainability, including reusable packaging solutions and on-demand manufacturing, as part of their investment strategy in sustainable commerce.

Christine Russo hosts Cara Smyth, Global Senior Managing Director ESG, Responsible Retail at Accenture, on "What Just Happened." The conversation delves into the evolving landscape of sustainability terminology, such as ESG, corporate social responsibility, and sustainability itself. Cara highlights the risk of drifting away from profitability and stresses the importance of chasing waste out of the system to enhance efficiency and profitability. They also discuss the challenges and opportunities for businesses, especially in the retail sector, to align with changing regulatory landscapes and effectively engage with suppliers to drive positive change.   Cara addresses the challenges faced by small and large brands in navigating the sustainability journey. Larger companies, having already committed to science-based targets and ESG goals, are on the path to remediation and change. Smaller companies are encouraged to learn from the lessons of larger ones and leverage their agility to implement sustainable practices. The discussion underscores the necessity of collaboration, data-driven decision-making, and responsible retail practices for a more sustainable future in the retail industry. Christine raises concerns about the risks faced by smaller companies, particularly suppliers, in the evolving landscape of sustainability regulations. There is a perceived challenge for smaller suppliers to keep up with compliance requirements and sustainability standards, potentially putting them at a disadvantage compared to larger, more professionalized companies. The risk is accentuated by the possibility of bigger companies consolidating around suppliers that can efficiently manage data exchange and meet sustainability needs.   The conversation then shifts to the complexities of regulatory compliance, especially in the "messy middle" where the specifics of evidence and requirements for sustainability practices are not yet clear. The speaker emphasizes the need for a transparent and evidence-based approach to demonstrate compliance, particularly in areas such as labor conditions and environmental impact. The evolving regulatory landscape is noted, with government bodies, including the Securities and Exchange Commission, showing interest in sustainability reporting.   The emphasis is on the need for a multidisciplinary approach to drive responsible business practices across different sectors.   In the latter part of the conversation, the speaker reflects on the global landscape of sustainability, suggesting that Europe, driven by regulatory pressures, is ahead of the United States. The importance of a global baseline for sustainability practices is stressed, with the hope that European initiatives will catalyze change worldwide. The discussion concludes with insights into the Fashion Conveners report, which aims to address the fragmentation and lack of alignment within the non-profit sustainability community, ultimately working toward more effective collaboration and support for industry leaders.

In this podcast episode, Christine Russo welcomes New York State Senator Jessica Scarcella-Spanton, who has been voted the 2023 Staten Island Power 100. Senator Scarcella-Spanton's bill is aimed at making assaults on retail workers a Class D felony. This is for all retail workers; however, at the heart of it, is the small business. The Senator shares the inspiration behind the bill, recounting an incident during her campaign where a deli worker was assaulted during a robbery. She collaborated with a group called C.A.P.S. (Collective Action to Protect Our Stores) to address the increasing concern of assaults on retail workers across New York State. The proposed legislation seeks to make assaulting a retail worker a Class D felony, aligning them with other frontline workers' protections. The Senator emphasizes the importance of safeguarding those who were deemed frontline workers during the pandemic, drawing parallels to protections already in place for bus drivers and other essential workers. Additionally, the podcast touches on a broader legislative approach to address organized retail crime, including bills targeting repeat shoplifting offenses and the sale of stolen goods online. The Senator emphasizes the need for nuanced solutions and an educational campaign to deter potential offenders. Listeners are encouraged to visit Senator Scarcella-Spanton's Senate website and social media for more information and support for the proposed legislation. https://www.nysenate.gov/senators/jessica-scarcella-spanton Bill: https://tinyurl.com/fb3dphcx @nysenator_jss

In this interview with Assemblyman John McDonald on "What Just Happened," the focus is on his bill addressing organized retail crime in New York. The bill proposes the creation of a retail organized crime task force, acknowledging the widespread issue of organized retail theft, amounting to $100 billion nationally and $4.4 billion in New York alone. The task force, with a bipartisan composition, aims to bring together various stakeholders, including representatives from the governor's office, Retail Council, Retail and Wholesale Union, and law enforcement, to collaboratively address the problem.Assemblyman McDonald emphasizes the impact of organized retail theft on businesses, taxpayers, and employees, underscoring the need for a comprehensive approach. The bill seeks to bridge the gap between different levels of government and stakeholders, fostering communication and cooperation to find effective solutions. McDonald also addresses concerns about the urgency of action and the potential effectiveness of proposed measures, highlighting the importance of evidence-based decision-making.The fate of the bill hinges on Governor Hochul's decision to sign it by the week, with McDonald advocating for a thoughtful and comprehensive approach to address organized retail crime in the state.

In this episode of "Fad, Trend and Strategy on What Just Happened," Christine Russo hosts David Marcotte from Kantar Consulting and James Tenser from VSN Media to discuss various trends and strategies in the retail and supply chain industry. The conversation begins with a focus on the challenges in the supply chain, particularly the impact of weakened demand. David Marcotte highlights the ongoing chaos in the supply chain, attributing it to unexpected disruptions like the Panama Canal issues. He emphasizes the return of challenges similar to those faced two years ago, with disruptions in rail, seaports, and altered supply chain timelines. The discussion then shifts to the failure of the trend towards digitalization of the supply chain, with various solutions, including blockchain, not living up to expectations. The persistence of paper-based documentation and a lack of trust in digital solutions are identified as obstacles. Russo steers the conversation to delve into the issues of sustainability regulations in the apparel industry, pointing out the contrast between genuine efforts and challenges in implementing effective controls across the supply chain. The conversation touches upon the lack of uniform regulations and the need for companies to stand up and enforce ethical practices. The episode concludes with a discussion on the concept of near shoring as a strategy to address supply chain challenges. Tenser sees it as a moderate trend that gained traction in response to lessons learned from the early days of COVID-19 disruptions. The hosts express varying views on the effectiveness of near shoring, emphasizing the need for a more resilient and adaptable supply web. The conversation also briefly explores the concept of "Just Walk Out" technology, considering it a fad in certain contexts, while self-checkouts are viewed as a growing trend with potential iterations to come. The hosts touch upon concerns related to organized retail crime, changes in retail store structures, and the potential shift towards a membership-based system. In the end, Christine Russo thanks the guests for their insights, highlighting the engaging and informative nature of the discussion, and expressing her desire to continue such conversations in the future.

In this conversation between Christine Russo and Giovanni Zaccariello, Giovanni discusses the Coach's approach to physical experiences and emphasizes the importance of localization, adapting formats for different regions, and using modularity to design for longevity. Giovanni provides examples, such as the Tabby pop-ups and the Coach Play stores, where experimentation and testing of new ideas occur. Giovanni elaborates on the Coach Play stores' purpose as testing grounds for new concepts, emphasizing the importance of community engagement and localized experiences and highlights the success of Coach Play stores in terms of increased traffic and extended customer stay. The discussion also touches on Coach's celebrity endorsements and a "constellation approach,". Christine draws parallels to the beauty industry's strategy. Giovanni explains the uniqueness of Coach Play stores, their flexible design, and the emphasis on creating a central community hub. Giovanni addresses sustainability within the brand, detailing initiatives like Tomorrow's Vintage, Coach Reloved, and Coachtopia. He shares the brand's circular ecosystem in Coachtopia, where stores are made from scrap materials, creating a unique and sustainable retail experience. Lastly, the conversation explores Coach's approach to apparel and its regional variations. Giovanni explains how the brand balances its core identity as a handbag company while expanding into other categories like apparel and footwear based on regional preferences. He also highlights the importance of omni-channel strategies, especially during the pandemic, and the success of live streaming in China. In summary, the conversation provides insights into Giovanni's role, Coach's innovative approaches to physical experiences, sustainability efforts, and the brand's strategic expansion into different product categories and regions.

In this discussion, Christine Russo hosts Andy Lautato, COO of The Vitamin Shop, and Chris Silver, a Customer Technology Executive, to explore various topics within the retail industry. Both Andy and Chris bring valuable insights from their extensive experience, emphasizing the significance of understanding the retail environment and the challenges faced by employees in stores. They underscore the idea that success in the retail sector hinges on empathizing with the team, listening to their experiences, and recognizing the integral role of the people within the organization. One central theme that emerges is the importance of agility and adaptability. Both guests acknowledge the rapidly changing landscape of the retail industry and advocate for being responsive to customer needs and market trends. They highlight the need for flexible strategies that can evolve with the business. Andy and Chris argue for the incorporation of innovation throughout the company, as opposed to isolating it within a separate department. They suggest that fostering a culture where innovation is part of everyone's role, alongside embracing risk-taking and learning from failure, can lead to successful, continuous innovation. Moreover, the discussion highlights the power of leveraging the wealth of knowledge and experience within the organization. Chris shares examples of how some of the most innovative ideas at Urban Outfitters originated from employees working on the front lines. These individuals, with their deep understanding of the business's daily operations, were best positioned to identify areas for improvement and innovation. By involving employees from various departments and actively listening to their insights, companies can harness the creative potential of their workforce and drive meaningful change. In conclusion, the conversation underscores the vital role of employees and team collaboration in shaping a company's strategies and success within the ever-evolving retail landscape. It highlights the need for a dynamic and adaptive approach to meet customer demands and adapt to changing industry trends while maintaining a strong focus on the people who drive the business forward.

In this conversation between Christine Russo and Barbara Thau, Editorial Director at Co. by the U.S. Chamber of Commerce, Barbara discusses her publication's unique approach to journalism and their focus on small businesses. Co. by the U.S. Chamber of Commerce is an independent publication, separate from the Chamber itself, and it emphasizes providing insights and support to small businesses. Barbara highlights their recent achievement of hosting the first America's top small business gala, with thousands of applicants, regional finalists, and one winner. She also mentions a panel discussion with Meta and Walmart on how large businesses are supporting small businesses in scaling, reflecting a broader industry trend of big businesses seeking growth through partnerships with small businesses. Barbara elaborates on how platforms like Walmart and Meta are providing opportunities for small businesses to grow by leveraging their resources and ecosystems. These platforms offer marketing, marketplaces, and other tools for small businesses to expand. She also notes the changing dynamics in the retail industry, with a focus on local and small businesses becoming increasingly popular, especially in light of the pandemic. Finally, Barbara discusses her role in bridging the gap between big and small businesses, sharing insights from executives of large companies to help small businesses learn and compete effectively in the market. In summary, Barbara Thau and Co. by the U.S. Chamber of Commerce are dedicated to supporting small businesses and promoting their growth by facilitating connections with major corporations and sharing valuable insights on the evolving business landscape, particularly in the retail industry.

In this conversation between Christine Russo and Simeon Siegel, they discuss various aspects of the retail industry, particularly its presence in the stock market. Siegel emphasizes the importance of agreement between retailers and consumers regarding service and value.Siegel also delves into the concept of gross margin as a measure of a brand's health and value, contrasting it with revenue. He discusses the challenges of publicly traded retail companies, which are heavily influenced by consumer spending, and highlights the need for a balance between short-term and long-term financial strategies.Furthermore, the conversation touches on distribution strategies, with Siegel advocating for the importance of wholesale and the need to carefully consider various channels for reaching customers. Overall, the discussion centers around the dynamics of the retail industry and its complex relationship with the stock market.