Steve Goldberg, President of The Grayson Company, attended the January 2019 ICR Conference in Orlando.

The Conference provides highly efficient opportunities to learn about major consumer and retail brands, as well as emerging digital natives, brands and industry sectors, both public and private.

This year’s conference came on the heels of a very unique year where Consumer sentiment and confidence was high, and overall retail performance was in positive territory. However, at the same time, it was against the backdrop of some major changes in the Consumer marketplace, and the political environment as well.

Here are the Top Learnings from ICR:

  • Consumer Experience counts!
    • Companies like Tilly’s, Lovesac, Yeti, Salt Life, Aritzia, Faherty, Five Below, Tommy John, Urban Outfitters are all outperforming largely because they have created unique ways of engaging the Consumer with unique product and shopping experiences while building fierce loyalty.
  • Speed to Market is crucial
    • The most successful companies we met have recognized that they need to continue to bring newness to the market faster, and execute in tighter time frames
  • Digital Meets Physical
    • “On-line” versus “off-line” shopping is past; harmonized digital consumer experience is now. Order on-line, pick up in store, while such an obvious opportunity, is working and driving consumers back into retail stores. However, it has taken some time for retailers to make this capability seamless and operational.
  • Cannabis is here to stay
    • Multiple companies at ICR presented their vision for building Cannabis retail environments, and positioning Cannabis as a future CPG business model
  • Blockchain will become foundational across retailing and manufacturing
    • It’s complicated, but Blockchain solutions are removing friction from Supply Chains, while creating more securitized methods of communicating
  • Retail and Distribution Channel Opportunities are Evolving… Fast
    • Retailers and Brands are rapidly moving to new and evolving distribution channels ranging from Alibaba’s Singles Day to Travel Retail on new Mega Ships to super sophisticated Vending Machines
  • The Amazon Effect
    • It continues to dominate almost any conversation about Retailing and Brands. With over 100 Million Prime Members, and now four different “brick and mortar” retail concepts, it has to. In short, Companies are grappling with how to deal with Amazon profitably, or what the alternatives are