Future of Retail panel at the National Arts Club
October 17, 2018
Generally I never pass up the chance to attend an event at the National Arts Club because it is so old world chic and last weeks event did not disappoint.
The Paris American Club New York opened up the evening and as a francophile I was delighted to know of this club which organizes cultural events for French and Americans here in NYC.
On the panel was a lively group.
Hosted by @hec_paris at @nationalartsclub @parisamericanclub moderated by @michaelbodley of @digiday with Gaboucha Kretz, Julie Barbezat of @etsy, Jason Kim of @bombfell, Tom Dwyer of @taylrdclothing, and Jonathan Chanti of @influencerdbcom was lively and provocative.
My guest for the evening was Aleksandra Lacka @insights_atelier.
Wonderfully organized by Mike Paffmann @m_paffmann
Some points that were touched upon that stood out to me:
- Brand loyalty in mid market is declining
- In the future there will be way less brick and mortar retail.
- Brands will have everything online and then just the best sellers in their shops/showrooms to try on or see in person
- Luxury will be safe
- Marketing will by hyper segmented and almost 1:1 service so ads that you will see will only be of items in your style and size
- There will be tools to help you find your size online
- Brand direct to consumer will continue as a trend
- Consumers will favor ‘experiences’
- Potential for an airbnb of merchandise warehousing
- Customization and personalization will grow in demand
As a personal stylist here’s my wish list for the future:
- Size inclusiveness become the norm and all sizes are represented by all brands (no more segmentation of plus, petite, and petite plus)
- Global size standardization so that you can find your garments that fit well easily
- Custom made clothing for women where you scan your body, order your outfit, choose fabric, color, fit, details ect and it arrives perfectly at your doorstep
- All companies adopt a ‘try before you buy’ so that you can properly try on as many pieces as you like. Bringing the dressing room to you at no upfront cost. Amazon now let’s you try for free for 7 days which is huge!
- Free shipping both ways is standard for all companies
- Elimination of slave labor, poor labor conditions, and companies operate from a place of integrity
- Consumers become more conscious of their spending and stop contributing to the global waste issue
- Resurrection of artisans and one of kind brands
- More women lead fashion companies especially in shoe design
- Ability to find any style dress in any color. Trends fad into background the industry becomes more focused on consumer driven co designed product
- More styles that are done in toxic free fabric for those who are allergic to fabric
- Finding what you are looking for in 3 seconds or less. So a massive fashion aggregator