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Quartz – Retailers Implement New Strategies to Adapt to Disruption
Many retail executives continue to struggle to implement the digital transformation strategies necessary to combat the disruption increasingly inherent in their industry. One CEO admitted that despite extensive experience marrying technology and retail, he was unprepared for the changes wrought by online shopping. "Digital is not about selling goods on the ‘net; digital is about a cultural transformation,” notes Egon Zehnder CEO Rajeev Vasudeva. “It impacts every part of your business.” As mass-market retailers are shaken by seismic changes in the industry, in addition to bolstering their web presences, they are piloting new programs that take advantage of their physical stores. These programs include experimenting with grocery pickup for online deliveries and converting store associates into delivery drivers. Anxiety about the digital future offers an opportunity to implement changes. Egon Zehnder offers two-day seminars for board members called Digital Journeys, to help them understand that an online strategy requires more than a website.
Full story: “J.Crew’s iconic boss—a mentor to Steve Jobs—couldn’t adapt to the internet fast enough” in Quartz (06 June 2017).