Wednesday, 11 March 2015

Stephen I. Sadove Talks Top Retail Disruptors

NEW YORK — “We’re going through a change, the biggest change, more change than any of us think will happen.” Those were words of wisdom from Stephen I. Sadove, cofounder and head of Traub Accelerator, Wednesday night at a presentation sponsored by CIT at the Sofitel Hotel. Sadove discussed “Ten Disruptors of Retail.” He should know: In addition to his work at Traub Accelerator focusing on technology and innovation, Sadove was the former chairman and chief executive officer of Saks Inc. and saw some of the early trends first-hand. His top two disruptors are omnichannel and talent. According to Sadove, omnichannel, a term that didn’t exist four years ago, is being “driven by the consumer. Whether that’s buying online and shipping to a store for pick-up or buying at the store and having it shipped home.” The disruption for retailers concerns the difficulty in moving inventory from one store to another location. That’s because retailers have traditionally kept separate inventories for online and in-store operations. Investments are needed to have systems that can share inventory information. While many of the larger chains have adapted to the new reality, the shift now has smaller business operations capable of making that same investment to their systems,

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