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The Retail Revival: Reimagining Business for the New Age of Consumerism, by Doug Stephens
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Traditional retail is becoming increasingly volatile and challenged as a business model. Brick-and-mortar has shifted to online, while online is shifting into pop-up storefronts. Virtual stores in subway platforms and airports are offering new levels of convenience for harried commuters. High Street and Main Street are becoming the stuff of nostalgia. The Big Box is losing ground to new models that attract consumers through their most-trusted assistant—the smartphone. What’s next? What’s the future for you—a retailer—who is witnessing a tsunami of change and not knowing if this means grasping ahold of new opportunity or being swept away?
The Retail Revival answers these questions by looking into the not-so-distant retail past and by looking forward into a future that will continue to redefine retail and its enormous effect on society and our economies. Massive demographic and economic shifts, as well as historic levels of technological and media disruption, are turning this once predictable industry—where “average” was king—into a sea of turbulent change, leaving consumer behavior permanently altered. Doug Stephens, internationally renowned consumer futurist, examines the key seismic shifts in the market that have even companies like Walmart and Procter & Gamble scrambling to cope, and explores the current and future trends that will completely change the way we shop.
The Retail Revival provides no-nonsense clarity on the realities of a completely new retail marketplace— realities that are driving many industry executives to despair. But the future need not be dark. Stephens offers hope and guidance for any businesses eager to capitalize on these historic shifts and thrive.
Entertaining and thought-provoking, The Retail Revival makes sense of a brave new era of consumer behavior in which everything we thought we knew about retail is being completely reimagined.
Praise for The Retail Revival
“It doesn’t matter what type of retail you do—if you sell something, somewhere, you need to read Doug Stephens’ The Retail Revival. Packed with powerful insights on the changing retail environment and what good retailers should be thinking about now, The Retail Revival is easy to read, well-organized and provides essential food for thought.”
— Gregg Saretsky, President and CEO, WestJet
“This book captures in sharp detail the deep and unprecedented changes driving new consumer behaviors and values. More importantly, it offers clear guidance to brands and retailers seeking to adapt and evolve to meet entirely new market imperatives for success.”
—John Gerzema, Author of Spend Shift and The Athena Doctrine
“The Retail Revival is a critical read for all marketing professionals who are trying to figure out what’s next in retail… Doug Stephens does a great job of explaining why retail has evolved the way it has, and the book serves as an important, trusted guide to where it’s headed next. ”
—Joe Lampertius SVP, Shopper Marketing, Momentum Worldwide and Owner, La Spezia Flavor Market
“Doug Stephens has proven his right to the moniker ‘Retail Prophet.’ With careful analysis and ample examples, the author makes a compelling case for retailers to adapt, change and consequently revive their connection with consumers. Stephens presents actionable recommendations with optimism and enthusiasm—just the spoonful of sugar we need to face the necessary changes ahead.”
—Kit Yarrow, Ph.D., Consumer Psychologist; Professor, Golden Gate University; Co-Author, Gen BuY: How Tweens, Teens and Twenty-Somethings are Revolutionizing Retail
“Doug Stephens doesn’t just tell you why retail is in the doldrums, he tells you why retail is a major signpost for the larger troubles of our culture and provides a compelling, inspiring vision for a future of retail—and business, and society.”
—Eric Garland, author of Future Inc.: How Businesses Can Anticipate and Profit from What’s Next
- Sales Rank: #146580 in Books
- Published on: 2013-03-11
- Original language: English
- Number of items: 1
- Dimensions: 8.80" h x 1.00" w x 5.75" l, 1.04 pounds
- Binding: Hardcover
- 272 pages
From the Inside Flap
Traditional retail is becoming increasingly volatile and challenged as a business model. Brick-and-mortar has shifted to online, while online is shifting into pop-up storefronts. Virtual stores in subway platforms and airports are offering new levels of convenience for harried commuters. High Street and Main Street are becoming the stuff of nostalgia. The Big Box is losing ground to new models that attract consumers through their most-trusted assistant—the smartphone. What's next? What's the future for you—a retailer—who is witnessing a tsunami of change and not knowing if this means grasping ahold of new opportunity or being swept away?
The Retail Revival answers these questions by looking into the not-so-distant retail past and by looking forward into a future that will continue to redefine retail and its enormous effect on society and our economies. Massive demographic and economic shifts, as well as historic levels of technological and media disruption, are turning this once predictable industry—where "average" was king—into a sea of turbulent change, leaving consumer behavior permanently altered. Doug Stephens, internationally- renowned consumer futurist, examines the key seismic shifts in the market that have even companies like Walmart and Procter & Gamble scrambling to cope, and explores the current and future trends that will completely change the way we shop.
The Retail Revival provides no-nonsense clarity on the realities of a completely new retail marketplace—realities that are driving many industry executives to despair. But the future need not be dark. Stephens offers hope and guidance for any businesses eager to capitalize on these historic shifts and thrive.
Entertaining and thought-provoking, The Retail Revival makes sense of a brave new era of consumer behavior in which everything we thought we knew about retail is being completely reimagined.
From the Back Cover
Praise for The Retail Revival
"It doesn't matter what type of retail you do—if you sell something, somewhere, you need to read Doug Stephens' The Retail Revival. Packed with powerful insights on the changing retail environment and what good retailers should be thinking about now, The Retail Revival is easy to read, well-organized and provides essential food for thought."
— Gregg Saretsky, President and CEO, WestJet
"This book captures in sharp detail the deep and unprecedented changes driving new consumer behaviors and values. More importantly, it offers clear guidance to brands and retailers seeking to adapt and evolve to meet entirely new market imperatives for success."
— John Gerzema, Author of Spend Shift and The Athena Doctrine
"The Retail Revival is a critical read for all marketing professionals who are trying to figure out what's next in retail Doug Stephens does a great job of explaining why retail has evolved the way it has, and the book serves as an important, trusted guide to where it's headed next. "
— Joe Lampertius SVP, Shopper Marketing, Momentum Worldwide and Owner, La Spezia Flavor Market
"Doug Stephens has proven his right to the moniker 'Retail Prophet.' With careful analysis and ample examples, the author makes a compelling case for retailers to adapt, change and consequently revive their connection with consumers. Stephens presents actionable recommendations with optimism and enthusiasm—just the spoonful of sugar we need to face the necessary changes ahead."
— Kit Yarrow, Ph.D., Consumer Psychologist; Professor, Golden Gate University; Co-Author, Gen BuY: How Tweens, Teens and Twenty-Somethings are Revolutionizing Retail
"Doug Stephens doesn't just tell you why retail is in the doldrums, he tells you why retail is a major signpost for the larger troubles of our culture and provides a compelling, inspiring vision for a future of retail—and business, and society."
— Eric Garland, author of Future Inc.: How Businesses Can Anticipate and Profit from What's Next
About the Author
The founder of Retail Prophet, Doug Stephens is one of the world's most respected and influential retail industry futurists and advisors. His work and thinking have influenced many of North America's best-known retailers and brands, including Walmart, Home Depot, Razorfish, Disney, Loblaws, WestJet, Citibank and Air Miles to name a few.
Drawing on over 20 years of international experience in the retail industry, including the leadership of one of New York City's most historic retail chains, Stephens tracks key shifts in economics, demographics, technology and media to assemble a complete and credible picture of how retail and consumerism are evolving.
He is a highly sought-after keynote presenter, speaking regularly to diverse business and government audiences across North America and Europe about the key changes in consumer behavior and technology that are central to the success of organizations and entrepreneurs.
He is also a regular contributor on the acclaimed television series App Central TV, a retail business contributor for CBC Radio, and a frequent source of opinion for global business media. Stephens sits on the advisory boards of a mobile technology company and the Dx3 digital conference. Follow Doug on Twitter @RetailProphet.
Most helpful customer reviews
5 of 5 people found the following review helpful.
Doug Stephens, A Retailing Philosopher...with pratical ideas.
By Jose Ernesto Passos
The Retail Revival is a great book to understand the social, demographic, technological and economic trends that are changing the world in the last 30 or 40 years from the perspective of someone who is in businesses that deal with the general public. It is not a how to book, but a book that presents ideas and concepts that are used (or misused) by marketing and retail professionals and how they have been impacted by the current state of things like, social media, internet, demographics...
One of its key ideas is that what is happening in the current Developed World Economy is not only caused by the recent economic crisis, but is the product of a series of changes:
- some technological, like the brutal explosion in information available to consumers and the new media where consumers can post their opinions and impact marketing actions in unexpected ways.
- others are demographical in nature, like the quantity of households of single people, single parents and so on.
- the new internet retailers with new capacities regarding their ability to understand their customers through their systems (like Amazon here!)
- the destruction of valuable blue collar positions by outsourcing to poor countries and increase the income inequality.
In summary, economic power is changing hands...(from Walmart to Amazon) the big retailers are becoming history. New organizations are being born and becoming successful as the generations of customers are changing. (The baby bomers are retiring...)
It is a book to get new insights and improve your vision on what is changing that impacts your business. Doug Stephens not only analyses the recent past, but also identifies some of the new directions that retail companies should look into to create their new future. These are the most difficult to evaluate, for many ideas will have to be invented or discovered by entrepreneurs around the world, and when we talk about innovation its easier to see and understand them when they become history.
The book is well written, sometimes you will feel like as Doug Stephens is in the room giving a lecture on the subject.
3 of 3 people found the following review helpful.
The Shape of Retail To Come
By John Polyzoides
The first half of Doug Stephens' book fills in the socioeconomic and political background to the retail environment we find ourselves saddled with today. This discussion serves to provide a solid context for his later projections on the shape of retail to come. The good news he brings and clearly marks out is that the next 5 years will witness an utter transformation in the world of retail. This book is rich in detailing and illuminating cutting edge technologies, ideas and new theories that in many cases will revolutionize the marketplace. Stephens pushes the futurist envelope to the very edge and provides a much needed toolkit of actionable insights. I particularly enjoyed his discussion of a retail future defined by `surfaces and devices' rather than channels.
Stephens' book reaffirmed my belief that a considerable number of today's retailers sitting pretty or in most cases, not so pretty, in stores ill-suited to our new realities, need to quickly transition to more creative and experiential uses of space. The future belongs to those who best understand today's critical triad of space, experience and branding.
3 of 3 people found the following review helpful.
The middle-classes stats
By Fernando Monteiro
This book starts with the position that the demographics in America that led to the success of business such as Wal-Mart have been radically and irreversibly changed. Well, either they didn't or need re-interpretation because Wal-Mart is still a roaring success and expanding to other countries such as China. But this book is interesting in which it anticipates changing purchasing habits, the effects of automation, total personalisation of service, and the internet which opens many doors to imagination. In the whole its a good book to read which can make you think and enrich you.
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