The Vue On Sunday, October 14

Welcome to The Vue This Sunday!

Starting this Sunday, Vue45 will have a bi-monthly digest of all that’s shaking up retail. Think of The Vue This Sunday as us catching up with the retail industry over coffee and cookies. Everything we discuss will be from the perspective of small-medium businesses and as always, we are open to feedback so please leave a comment or get in touch if you have anything to say!

Without any further ado, here’s what we’re talking about this week –

Shopify Opens Its First Brick and Mortar Store in LA

If you have an e-commerce site for your business, chances are that you’ve definitely heard of Shopify (if you’re not using it already). Shopify’s simplified payment/logistics platform has been a game-changer for small-medium businesses and the physical storefront that it has opened in LA is proof of its success. The company plans to use the store to not only demystify the platform, but also equip entrepreneurs with the tools and know-how to make the best of the platform. The COO of Shopify, in a statement, has also said that they intend to make the store a “hub where business owners can find support, inspiration, and community”. Kind of like Vue45, then. *wink*. You can read the entire story on TechCrunch, here.

How Artificial Intelligence is Disrupting The Retail Experience

From virtual assistants to driverless cars – there is no doubt that the robots have arrived and are going to change our lives in ways we haven’t imagined. There are plenty of robots in the retail industry as well. Sephora, for example, has started using Augmented Reality in its apps to show how their customers would look with their selection of makeup products on. IKEA is another brand that uses Augmented Reality to show how their products would look in a space. Other retailers use AI to make better recommendations, create accurate visualizations, visual merchandising, and more. If you think AI is only for the Sephoras and the Macy’s and the Tatas of the world, think again! There are AI solutions for small-medium retailers, like VueTag which can help you create better catalogs with its powerful image recognition capabilities. For the complete scoop on how AI is disrupting the Retail Experience, check out the story on Retail Week, here. 

Bring On The End Of The Romance Apocalypse!

India is seeing its own bright and belligerent #MeToo movement. Prominent men across media houses, businesses and entertainment industries have been named and we say, bring it! Women, especially young women, who have no choice but to work with manufacturing units for their retail stores have plenty of similar stories to share. Unfortunately, it is all wiped under the carpet as a part of the industry and its risks. As is usual in movements like these, many men have berated that such allegations would signal the end of the ‘romance’. Aww! As Nisha Susan says, “Almost all the time, what they think is a cool move that impresses the ladies are often moves that only baboons would appreciate.” You can read her sharp, scathing and undeniably witty piece, here. 

Why Rick Carruso Is The Walt Disney of Retail

Rick Carruso, number 179 of Forbes’ 400 Richest Americans in 2018, is a real estate moghul, but more notably, is the owner of The Grove, a 575,000 square foot mall in Los Angeles. At 575K, The Grove is its own country. And when everyone talks about the downfall of traditional retail, the Grove is doing remarkable business – the mall welcomed 58 million visitors last year – more than the Great Wall of China, more than Disneyland. A lot of The Grove’s success owes itself to the amount of effort that Carruso puts in on Customer Experience. The copper garbage cans are always polished, the staff are dressed impeccably and fallen ice cream cones magically replace themselves. “If you provide something that is unique and relevant, in a setting that people find captivating, you will do well”, says Carruso. His story and words of wisdom, which you can read in Forbes, apply to retailers of all shapes and sizes and makes for great inspiration!

How WeWork Wants To Rejuvenate Retail

WeWork, the global mobile workspace giant is now looking to expand into retail by setting up stores, called WeMRKTS, in its buildings. The selection of products in each of the markets will vary by the needs of the members in each location. While we might not entirely agree with Julie Rice’s ‘retail is dying’ statement (listen to this podcast for more insight!), there is no doubt in our minds that retail curation and giving your brand a voice is definitely a way forward for retail success, especially if your target audience is the millennial. Having a good brand is one thing, but a brand with personality? Priceless. You can read the report on WeWork’s entry into retail, here.

The Unglamorous Reality Of Being A Stylist To The Stars

This isn’t particularly retail news, but it is relevant all the same. As the number of stylists in Hollywood increase, they are becoming more and more dispensable. This translates to ruthless working hours, near impossible demands and a plethora of extra costs. Interestingly enough, the article also talks about how social media has opened up new avenues for stylists and helping them create their own brand instead of just being someone who is behind the scenes. This brand, this ephemeral quality that sets you apart, in our opinion, is what every small and medium retailer should strive for. Find your own voice – conquer the world! Here’s the link to the article on Business of Fashion. 

And that’s it for this week! What have you been reading?