A company called McFayden Solutions hosted this session and they showed an excellent video with shocking statistics about the influence of social media on the industry. The session was based around three specific questions that retailers should be asking themselves:

• What is it? (Ratings and Reviews, Forums and Communities, Blogging, Social Bookmarking, Group Buying)

• Why do I need it? Social commerce is a major element in the consumer cycle. “Fish where the fish are”

• How do I do it? Attract –> Convert –> Increase AOF/LTV = SALES!

I found this session to be fascinating and extremely relevant to the industry and what is currently taking place.

Clements Inhouse Consulting, the selected name of their store, presented their program which used mobile devices and new technologies to enhance their customers’ experience and promote loyalty to their company. Clements’ main goals on accomplishing these achievements were to:

1. launch a new mobile application

2. engage in social media initiatives

3. introduce a new store layout

Aside from the basic uses of mobile devices such as, marketing, payments, and gaining product information, Clements was a visionary and came up with abstract ideas to combine the mobile technology with the use of QR codes. The most innovative idea that was presented was the idea of having a virtual fashion runway and closet, where the customers could scan the QR code of the item they like and see themselves, after uploading a scan of themselves within the store, walking the fashion on the runway. This not only enhances the customer’s experience, but also their likelihood to purchase the product. Clements also presented a neat outline for their new store layout, where there would be up-beat tempo playing and each department would appear to be a “mini” store of its own.

At the completion of their presentation, the team were asked a difficult question from one of the audience members, regarding excluding certain customers with their new customer service enhancements and technology, which they answered with great knowledge and poise. If winning, attending the BIG Show, and being able to present their project challenge wasn’t enough, each of the six team members were awarded with a trophy and a $2,500 scholarship from each of the company sponsors. If these students are the future of retailers, then the retail industry has a very bright future ahead of them.

Watch a video of one of the winning students talk about their participation in the 2010-2011 Intercollegiate Retail Challenge.

What will cause the dramatic changes in consumers and the way they shop in the next ten years?

• As “Boomers” grow older, they will purchase less

* This creates a higher dependency rate
* Also creates a higher tax burden

• Generation Y will begin using their smart phones more often to make purchases.
• There is a shift in geographical spending, which is creating a new type of middle class.
• In the change of the global economy there is evidence of a retrenchment in the U.S.
• China is moving towards consumerism

* Minimum wages are up 45%
* Consumer GDP is up 35% and will continue to rise

• In order to engage the consumers in the next ten years, retailers must:
• Align their values with those of the consumer
• Go to where the money is
• Lead AND Listen!
• Take care of your people, treat them with respect so that they will take care of the customers

Driving Factors of Retail in the Next 10 Years:

• The entire world will become mobile
• Simplicity is crucial
• Consumers want a retailer they can trust completely, be that retailer!

This session was jammed packed with important information about the future of retail and the how to adapt to the upcoming changes.

Later in the day I got the chance to walk around the Expo Hall to check out the booths and learn about the new technologies that are being implemented to continually update the retail industry. I greatly enjoyed today’s events and am looking forward to the final two days of the NRF Big Show!

In relation to this topic, “The Crowdsourcing Game Changer: Merchant Instinct vs. Consumer Sentiment” was the BIG Show session which really caught my eye today. It had an outstanding panel of speakers – from Alexis Maybank, founder of the online sensation Gilt Groupe, to Michael Mendenhall, the marketing guru of Hewlett-Packard Company.

During this highly engaging session marketers voiced their opinions on the future of social media, the use of marketing data and the best practices, which companies should employ when developing an online marketing strategy. Despite some differences in professional backgrounds, the speakers were able to reach a consensus on a number of important points:

1. Think of your employees as the people who you need to convince first. In a pilot project, Hewlett-Packard conducted a test marketing campaign among its employees, and the results didn’t disappoint. When the campaign was finally released to the general public, it instantly became a success. The volume of positive response doubled the expectations.
2. Develop a good understanding of your brand and its content before you communicate anything to consumers. Hamilton South from HL Group pointed out, that some of his clients are willing to spend a hefty portion of their marketing budget on social media, yet they have a vague idea about what the consumers are interested to hear about. Thousands of Twitter followers may be totally useless, unless a retailer communicate information that is meaningful to the consumers.
3. Utilize different marketing channels to learn about your target customers. For decades, fashion companies have been relying on tradition media to obtain marketing data, but the game has changed. Alexis Maybank of Gilt Groupe shared with audience a new transparent model of vendor-to-retailer collaboration. In addition to purchasing overstocked merchandise, Gilt also provides their vendors with information about the brand’s target customers, their geographical locations as well as online behavior. This invaluable information enable vendors to gain a better understanding of their target customer and possibly introduce the brand to new subsets of the American population.
4. Use the available data to create an online community around your brand. Nike is perfect example of a company, which was able to analyze massive amounts of customer data and use it to build a community. Niketown Running Club not only provides the devoted runners with ways of customizing their sports attire, but also informs them about the latest news in running and the upcoming marathons.
5. Engage with your customers through storytelling. In the age where consumers are bombarded with excessive information and often know more about a product than sales associates, there is no much room left for authenticity and originality. To grab the elusive consumer attention and go beyond a one-time transaction, retailers need to get creative about the message they send. A compelling story about the brand will not only help to lure the customers into the stores, but also ensure that they will come back in the future.

We’re thrilled to introduce the following students, who you’ll be hearing from over the next few days.

Nekiya Covington
Florida State University
Graduation Year: 2011
Major/Degree: Retail Merchandising and Product Development
Twitter Account: @nec72288

Why are you attending NRF’s BIG Show?
As a participant in the NRF’s 2011 Aspire2Retail Intercollegiate Retail Challenge, I was provided the opportunity to attend the BIG Show this year. I am excited about attending the NRF’s educational sessions, exploring the expo’s floor, and being able to attend the largest retail conference in the world. I am honored to be one of few students to represent my university here at the convention.

What are you most looking forward to?
I am most looking forward to exploring the EXPO Hall. I have never been to a retail expo before, so I am ecstatic about seeing the new technologies and innovations that will be presented on the expo floor.

What’s your dream retail job?
My dream is to become the CEO of my own chain of children’s wear boutiques.

Jena Glick
LIM College
Graduation Year: 2013
Major/Degree: Fashion Marketing
Twitter Account: @jenaleslieg

Why are you attending NRF’s BIG Show?
To learn, to network, to be up-to-date in the retail news, and to educate others who couldn’t attend by blogging.

What are you most looking forward to?
Hearing what everyone has to say about the generation of techies. The big focus seems to be about mobile devices and their use in the retailing industry.

What’s your dream retail job?
Run a retail blog. I’m working on it, I currently write for Racked NY, a blog about retail and fashion in the New York City area.

Tatsiana Yafremava
Fashion Institute of Technology
Graduation Year: 2010
Major/Degree: Fashion Merchandising Management
Twitter Account: @Tatsiana_Y

Why are you attending NRF’s BIG Show?
It is an honor to represent my school, FIT, at the Big Show and raise awareness about its outstanding academic program and instructors. I also look forward to attending NRF’s educational session about the innovations and the current trends in the retail industry.

What are you most looking forward to?
As a recent graduate pursuing a career in fashion, I definitely look forward to networking opportunities. Attending the Big Show is a also a great chance to learn about the future of retail directly from some of the most prominent industry leaders.

What’s your dream retail job?
My dream is to become a Buyer for a specialty retail company.

Maria Roberts
Fashion Institute of Technology
Graduation Year: May 2010
Major/Degree: Fashion Merchandising Management (FMM)
Twitter Account: @mariarobertsFIT

Why are you attending NRF’s BIG Show?
I am always looking for extra curricular activities to better myself. Attending the NRF conference is a great opportunity to listen to those that have earned the right to be listened to and I believe that is the best way to learn.

What are you most looking forward to?
I am looking forward to hearing from some of the greatest individuals in the industry so that I can be up to date with the changes that are occurring, as well as networking with as many retailers as possible.

What’s your dream retail job?
I aspire to work with a recognized company that has an admirable history that I can learn from, as well as a positive potential future that I can contribute to so that I can make a measurable difference within the company to create a win-win-win for the customer, company, and myself.

Maddi Weinstein
University of Arizona
Graduation Year: 2012
Major/Degree: Retail and Consumer Sciences
Twitter Account: @maddiweinstein

Why are you attending NRF’s BIG Show?
I am attending NRF’s BIG Show as a representative of the University of Arizona’s Retail and Consumer Sciences program, as well as a member of the Student Advisory Board for the Terry J. Lundgren Center for Retailing. I am here to not only network and listen to guest speakers, but to learn from the best of the best in the Retail industry.

What are you most looking forward to?
I am looking forward to gaining insight to the industry as a whole from the people whose actions affect it daily, as well as being able to learn something new from each person I have the opportunity to speak with and get to know.

What’s your dream retail job?
My dream retail job is becoming a Buyer for a national, retail department store.

Adena Stein
University of Arizona
Graduation Year: 2011
Major/Degree: Retailing and Consumer Sciences
Twitter Account: @adenastein

Why are you attending NRF’s BIG Show?
I am attending NRF’s BIG Show as a Student Advisory Board Ambassador or the Terry J. Lundgren Center for Retailing and NRF Collegiate Blogger. I am here to broaden my professional network and represent the Retailing program for the University of Arizona.

What are you most looking forward to?
I am looking forward to meeting all of the people who paved the road I am taking toward my career. I am eager to watch, listen, and learn, while also networking and broadening my horizons.

What’s your dream retail job?
My dream retail job would be in Marketing and Event Coordination for retailers in American and European metropolitan venues.

Peter Sachse, Chief Marketing Officer of Macy’s and panelist at today’s Super Session, Consumer 2020: What Lies Ahead for the Retail Industry, hit the theme hard on the head when he said, “The millenials are going to take us just as hard as the baby boomers, I’m sure.” What Peter Sachse and others mentioned at the Super Session was mind-boggling. I couldn’t wrap my head around the conversation about my generation and that’s because it was about me. Retailing towards Gen Y/Millenials seems simple when you are one. The steps any retailer should take should allow them to interact with us on a personal level because we have been growing up in an age of technology and simplicity. We rely on our crackberry, our Facebook, and our Twitter accounts to not only build our social networking opportunities, but really to build ourselves as a brand.  The way we represent ourselves online shows retailers who we are and what we want. It’s easy for retailers to log onto a customer’s Facebook to see what pages he/she likes and then customize ads that represent the users web-surfing needs.

To be quiet frank, that idea scared me at first. I didn’t want to have advertisers that were omniscient of my every move. But now, I think it’s pretty amazing. The thought that I can with ease have a virtual personal shopper who knows my needs and wants is something that my generation is embracing fairly well. The world of retailing has taken on quite a challenge trying to target my generation and the ways in which the industry is changing are pretty incredible.

In the Big Show Pavillion Session named Showers of Creativity: Rays of Retail Inspiration, Kate Ancketill, Managing Director of GDR Creative Intelligence showed a slideshow of innovations that retailing has done visually to appeal to the technology-obsessed, simplicity-driven generation I call my own. In the show was a screen shot of a website, Clikthrough.com. On the left of the screen was a video of one woman speaking to another woman who was wearing a green shirt. On the right of that screen was that exact shirt with all the details of its design as well as the option to purchase it all while the video continues playing on the website. If that’s not simplicity, I don’t know what is.

Taking it back to the Super Session, that’s what another panelist, Cathy Green, President of Food Lion Family of Banners also mentioned. She said, “Our opportunity is to educate and gain consumer trust.” She continued that retailers need to do this with use of “deep personalization and simplicity.” She mentioned that there are two opposing camps to the availability of simplicity. Camp 1 is afraid of lending the competition a helping hand by offering the customer to research products of the same type from their mobile phones, while the second camp believes that mobile phone applications and in-store wifi will benefit the retailer because of its simplistic use to the customer.

What’s rather funny is that retailers really don’t have a say in the matter. Andrew Higginson, Chief Executive of Retailing Services and Group Strategy Director at Tesco PLC put it best when he said, “Let them choose.” My generation already knows how to research on the internet. As college students, we know to check Amazon or Chegg for college textbooks because we’re 99% sure that we can find cheaper prices on those websites than in our own college bookstores. For those of us who have smart phones, we know to check retailmenot.com before shopping because there’s an opportunity to get a great discount on the dress right in front of our faces or at the click of our buttons. We Millenials are eccentric and motivated to shop, and if retailers can continue to address our needs, well then, as cheesy as it sounds, it’s going to be a beautiful friendship.

For us, student bloggers, this first day was filled with exciting events: breakout sessions starting as early as 8:00 AM, a speed networking luncheon with the retailers, brainstorming during NRF Student Association meeting and much more.

Here is my first day at a glance.

Best Quotes of the Day:

“Keep playing with your matches… But don’t burn the barn down” – Bob Thacker, Office Max via Today’s Mounting Influence of Marketing Technology: A Collision or Collaboration?

“Consumers are 51% more likely to purchase from retailers that have mobile-specific websites” – William Rosen, ARC Worldwide and Arunabh Das Sharma, Whirpool via Marketing to the Mobile Shopper

“If you want change, failure is part of the deal” – Dan Heath, author of “Switch” via The Rise of the Individual: Understand and Respond to Smarter Consumer’s Wants and Needs

Most Talked About Breakout Session of the Day:

Nobody can resist the mobile shopping hype. Sessions exploring online consumer behavior attract some of the biggest following so far. Marketing to the Mobile Shopper, one of the most popular sessions on Sunday, barely had any room for people to stand. Speakers provided some interesting statistics on the mobile behavior and shared the results of their research with the audience. Some of the major points touched upon:

• Comparative analysis of “light” and “heavy” mobile shoppers
• Category-specific mobile activities and the necessity of thinking outside the category norms
• Enhancing collaboration between manufacturers and retailers
• Raising awareness about the benefits of mobile shopping
• Creating fluid and functional shopping experience

Web Application of the Day:

A lot has been said today about the necessity of optimizing web experience for mobile users. My personal favorite of the day was the user-friendly web version of NRF’s website. As somebody who is new to the Big Show and unfamiliar with the layout of the Javits Center, I found it very easy to look up sessions, navigate the halls of the Javits Center and even create my own agenda for the day. To stay organized during the Big Show, you can type the following URL into your mobile browser: marketart.com/nrf11/ or check the web version directly from your computer.

The Biggest Networking Event of the Day:

During the Retail Networking Luncheon, students from NRF Foundation Partner College were able to mingle with company executives and HR representatives. Among retailers to participate in the event were Macy’s, L’Oreal, Container Store, Collective Brands, H&M, and J Crew. Students shared their background and academic experience with future employers, whereas the participating retailers had a chance to talk to the next generation of retail industry professionals.

Network while you wait: the coat check line was an unexpected networking spot at NRF’s BIG Show

The Least Expected Networking Spot of the Day:

For those of us who didn’t make it to the Hard Rock Café tonight, the coat check at the Javits Center provided plenty of opportunity to catch up on networking. As my fellow blogger Maria Roberts and I were standing in line, we noticed that spontaneous conversations with other attendees transform a 20-minute wait into a worthwhile networking session.

There is a great atmosphere in the busy hallways of the Javits Center, and I think most of us will agree that the 100th Anniversary of the Big Show is off to an amazing start. More exciting news and networking opportunities to follow!

I started the day off by exploring a couple of breakout sessions. First, I checked out “What Operations Executives Want and Need,” where Ben Tiecher, SVP and CFO of Ratner Companies, and Sharon Leite, Executive VP of Stores were the key speakers. It was structured as a panel discussion, which was very effective in getting the information out to us. Although there were many questions thrown their way, I do feel like majority of them were focused on how their companies responded and maintained their customer relations, store operations, and partnerships in result of the downturn in the economy.

The second breakout session, “Marketing to the Mobile Shopper,” was beyond interesting. As a participant in this year’s Aspire2Retail Intercollegiate Challenge, one of the main challenges that we find a solution to was mobile commerce. Arunabh Das Sharma from Whirlpool Corporation Ad Center and William Rosen from Arc Worldwide presented the research from a study that they had been conducting to measure who, what, when, where, and why shoppers used mobile shopping. They provided us with the top 10 findings and how each of those will be implicated from their research

Finally, the highlight of my very first day was the NRFF’s Networking Luncheon. This event was very beneficial and provided us, students, and a great opportunity to network with a few of the companies who are NRF members. Move over speed-dating, speed-networking is the new black! While the students remained at their seats, retailers moved around from table to table, and were able to speak with the students for 8-minutes. DING! Time to change. Following the luncheon, the Inaugural meeting for the NRFSA, National Retail Foundation Student Association, was held. We were provided with the drafted proposal for the association and a few questions regarding the important aspects of the potential NRFSA. As a group table, we were able to brainstorm and present what we would want as a student.

All in all, my very first experience with the NRF’s The Big Show has started off with a great experience and I am looking forward to exploring the exhibition hall floor and hearing more speakers!

First thing on the agenda was a Student Networking Luncheon. Even at midnight, the excitement hadn’t subsided. I got to speak to industry recruiters from a ton of different companies who came just to talk to me and other students like myself.

One of my biggest mottos is to network until I die. Everyday is an opportunity to meet someone new and truthfully, you never know who you’re going to meet or where you’ll meet them, so be open-minded. Sure, I may not want to be a Visual Merchandiser or a Buyer, but I do believe in connections. I aspire to become a writer and any connection I can make with anyone could pave the path for my future. As many retailers are starting their own blogs or need copy-editors for catalogs and things of that nature, the retail industry is full of opportunities. Today was all about those networking opportunities and it was fantastic.

The luncheon was a speed-networking event in which retailers came to our tables for a set amount of time (much like speed-dating, or what I assume speed-dating is like, considering I’ve never gone speed-dating). Myself and the other five students at my table were greeted by so many friendly, energetic retail representatives I was all smiles when I left the event. Plus, the opportunities for internships were almost endless.

Here are some highlights:

• Industry professionals gave their time to come speak to students like myself and I came away with so much more information about not only internship and job opportunities, but also management. Collective Brands, the company that owns Payless, Keds, and Stride Rite (just to name a few), spoke about the ease of moving from one brand to another. There were a plethora of internship opportunities in just about every position in retail from Visual Merchandiser to Store Manager.
• The Container Store talked, jokingly, about the positives of being a little obsessive compulsive while working at The Container Store. They mentioned the one equals three motto that the company has. Essentially, it means that one amazing employee accounts for three great employees and that the company would rather give a higher salary to that one incredible employee who does an amazing job than settle for three employees. They appreciate the people who work for them and when hearing that type of energy and trust in your employees makes me feel like I’m networking with the right people.
• L’Oreal told us about their rotational internship program that exposes you to the multiple aspects of the company as well. It was so refreshing to hear that employees truly want the best for their interns. We have the old saying “We are the future” to explain why.

It was flattering to know that the NRF Foundation would put together an event such as this for us because they have faith in us, the future of retailing. The NRF has so much faith in us, that they even gave us the golden opportunity to help them in creating ideas for forming an exclusive student membership which will be named, National Retail Federation Student Association (NRFSA). Individual tables brainstormed on topics ranging from the expectations of an organization to the requirements for entry. And, my favorite part, is that we were automatically inaugurated! We’re the first in what will become an exciting chance for students to get their foot in the door and have real-world encounters with retailing.

So, in short, it was a lovely start to my visit at the NRF’s Big Show. The centenial birthday will be the greatest one in my history of attending (this is year two for me!). Taking a look at the schedule, there are many shows that seem to revolve around the transformation that retail has taken with the aid of mobile devices, so I look forward to seeing what retailers have to say about my techie generation.

Kip Tindell, CEO of The Container Store Kicks Off the First Annual Retail Talent Networking Luncheon

After the welcome message, the students were assigned a specific table with approximately seven to eight other college students. No time was wasted once everyone finished eating. The speed networking began right on time with the retailers starting at a designated table. Eight-minute intervals were given for each retailer to speak about their company and background before opening up the discussion for specific questions from the students.

Some companies that were present include: J. Crew, Macy’s, L’Oreal, The Container Store, Five Below, Sears Holdings Group, H&M, Toys “R” Us and Sleepy’s. By the end of the session, each table of students was able to hear from six different companies. Resumes were exchanged for business cards and everyone walked out of the conference room with more knowledge than when they came in. This speed-networking event was incredibly beneficial for both the students and the retailers.

Retailers Speed Network with Students from NRF Foundation’s Partner Colleges

Name: Molly McKenna

College/University: University of Michigan Stephen M. Ross School of Business

Graduation Year: 2011

Degree: Bachelors of Business Administration

Why did you attend NRF’s BIG Show?

I learned about NRF’s BIG Show through competing in the NRF Intercollegiate Retail Challenge.  As a student interested in pursuing a career in retail, I knew attending the conference would be a great opportunity to learn about career paths in the industry and to talk with current retail professionals.

What was your favorite Super Session and why?

My travel schedule prevented me from attending a Super Session, but I greatly enjoyed “The Power of Retail Design” breakout session.  The panelists’ creativity in overcoming diverse challenges in store design and visual merchandising was inspiring.

What was the most exciting thing you saw or learned?

I enjoyed the Intercollegiate Retail Challenge team presentation during the “Where In the World Is Tomorrow’s Retail Talent” session?  It was interesting to see another team’s take on the challenges presented in the prompt.

What other fun things did you do while in New York City?

Although my trip was short, I had the opportunity to visit family living in the area.

What’s your dream retail job?

I hope to someday work as a buyer for a major department store.

Check out other student profiles from Dartmouth, the University of Wisconsin-Madison, the University of Arizona.

Name: Stephanie Olinski

College/University: University of Arizona

Graduation Year: 2012

Degree: B.S. in Retail and Consumer Sciences, General Business Minor

Why did you attend NRF’s BIG Show?

I attended the NRF Big Show to expand my knowledge of the industry I am passionate about. I thought it would be a fantastic chance to network and meet some of the most powerful people in retail. Plus, it was in New York. How could I not go?

What was your favorite Super Session and why?

My favorite Super Session was the New Luxury Paradigm with Tory Burch. It was great to hear the affects of social media today as a blogger and Twitter-er myself.

What was the most exciting thing you saw or learned?

The most exciting thing was the whole BIG show itself. I especially like the Design studio since my career interests are in visual merchandising and fashion marketing.

What other fun things did you do while in New York City?

I met up with a friend that had recently moved there and explored the magnificent 5^th Ave. I literally could have spent hours in all those stores just staring at everything. I also went shopping at Uniqlo after hearing so much about it.

What’s your dream retail job?

My dream retail job would be being CEO of a fashion and design magazine while living in New York.

Check out other student profiles from Dartmouth, the University of Wisconsin-Madison, and the University of Michigan.

This was my first day EVER in New York City. I came with the University of Arizona’s NYC Study Tour and according to my itinerary, this was the only day I had to explore. We had a jam packed week ahead of us filled with super sessions, networking opportunities, and sponsored dinners.  Of course, I hadnn’t had any sleep the day before my flight (because I was so excited!), and didn’t sleep on the plane. Let’s just say coffee became my best friend again.

Under my motto of “sleep when you die” I thought it was the best decision to drop my bags at my hotel and explore the city as much as possible. That I did. I saw Times Square (very touristy), slightly overrated, but something I needed to check off my list. Then explored a little of Chelsea, experienced the Subway, caught a taxi (on my own!) and passed out knowing that the week of a lifetime was about to begin once I woke up.

Day 2

The first day of the convention was slightly overwhelming, especially being a measly college student in the world of REAL retailers. I attended the Power of Retail Design session which was very interesting because it is an area of study I want to go into after college. It was interesting to hear about the subjects we learned about at school being discussed as real ideas and projects to be implemented into stores. For instance, they spoke about brand imaging, and how to reach the international market.

I also attended David Wolf’s give his presentation on “A New Fashion Perspective.” Can I just say that he is amazing?! I completely agreed with his ideas about rethinking trends. It was so unbelievably refreshing to hear someone speak out against new trends and fashion shows unlike the teen bloggers today that pretentiously gawk over every new fashion line they see. Finally, someone who has credibility to speak about fashion!!  Wolf predicted fashion will have a new emphasis in fabric manipulations, pastel colors, rustic fabrics, and flower prints. It will be interesting to see what happens to fashion in the coming years. So pretty much, I loved his presentation.

Day 3

The U of A Study Tour and I pretty much got to walk to Expo floor and see all the booths. It was a great opportunity to network and get to know retailers and presenting companies. It was interesting, though, because people either thought we were high-schoolers, or other retailers. Obviously, they didn’t read our badges. Some people would approach us and be like “oh the University of Arizona…” and some would mention they didn’t realize that college students attended the convention.  Despite some puzzled looks we got, I still thought it was a great experience for us to meet people who could potentially hire us one day. By the way, I loved the Design Studio. If I come again next year, I will spend all my time there instead.

Day 4

LOVED!! the supper session “The New Luxury Paradigm” with designer Tory Burch and CEO of Saks Steve Sadove. They spoke about surviving the recession and adapting to the new environment to remain successful. It was reassuring to hear that retailer’s have a plan B for their company. This then brings potential to us college students to find a job out of college. Likewise, the feeling of satisfaction spreads to the consumers who get to see their favorite stores still open while the economy takes a turn. I found it funny that there are probably so many consumers who don’t even realize the behind-the-scenes of retail companies, and there I was exposed to it all. The luncheon we attended was phenomenal to be a part of. I was surrounded by some of the most powerful people in the retail world! And I got to meet Terry J. Lundgren…the namesake of our retail school!  Very many 20 year olds can tell people that they did what we did.

Day 5

The saddest day of the trip…we left for Tucson. Flying home made me realize the life changing opportunity I was a part of. It was totally worth missing the first day of school for, totally worth not sleeping all week for and totally worth all the money I worked hard for to attend. I was so incredibly grateful for the opportunities I was given through this trip and the NRF convention itself. The sessions and networking made me realize that I made a great decision to become a Retail and Consumer Sciences major.

Stephanie is a student at the University of Arizona, one of the Foundation’s college partners.

Home.

I’m sick…

I know, sad story.

But, I realized something while chugging orange juice for potential Vitamin C power to chug through the day – I’m not going to let being sick get me down.

Just as retailers are being optimistic that the worst is over, I’m going to be optimistic that I’ll get better by tomorrow and will be able to sit in on some more interesting sessions at the show.

As I mentioned in Bringing Back the Buy, that is the key to being in business. Optimism is the light of life that should guide all actions of retail. It is something that is going to get me through today and get me through the rest of my life in a world of business.

There is so much optimism behind that and it is the same optimism and drive that keeps retailers afloat throughout the changes in multi-channel retailing.

E-tailing has become a way of the present. Years ago online retail seemed something from the movie Back To The Future, but now you can make purchases from your cell phone! Online, convenient shopping is more popular than I ever could have imagined.

What does that mean for tangible, walk-in stores?

That means that fewer customers will be making their purchases in person. It is easier to sit at a computer and choose at the click of a button what you want to buy rather than travel the distance to purchase it.

What can retailers do to convince customers that getting out of their pajamas to travel to stores is a better experience?

Give them the visual experience!

Peter Graf, Chief Sustainability Officer, Executive Vice President of Sustainable Solutions, and speaker at the Sustainability in Retail session said, “Visuals drive change.”

He and Andy Thaemert, Associate Principal at retail design firm Callison and speaker at the Visual Merchandising: Infusing Artistry in Retail Design session spoke on the same topic – the theory that stimulating the customer’s experience visually can draw the customer to a store and away from a computer.

Having a strong market that is driven to shop in store is just as important as having a strong online presence. Finding the balance is what retailers need to do to maintain positive growth for both channels of retail. But, as of now, the bigger focus is keeping the attention of customers in person. That can be done through the visual merchandising.

Thaemert showed a number of slides giving a walk through of the newly opened Harvey Nichols flagship store in Jakarta. Instantly, even though I was not physically in the store, I saw through the photos a fantasy world made of unbelievably exciting visual merchandising. Looking at the photos left me breathless.

That is the effect that every retailer wants to have on a customer. That awe that draws them inward so that once they are inside, the real magic can begin.

One of the things that Harvey Nichols design team did was recycle things that were a part of Jakarta, such as steel oil drums, scooter tires, and glass bottles. They used those items to become part of the design of the store and it worked. Recycling is part of the restructuring of retailing and the way that it was shown in the Harvey Nichols store blew me away.

Without a doubt, retailers have to connect with their customers. The way to do that is through the visual merchandising. It is always going to be about the product itself, but instead now retailers need to spend a little more time focusing on how the product is showcased. That is what is going to bring the target customer into the physical, retail, store and keep them from the competitors.

If you can capture your audience in that way, you have done your job as a retailer and will capture audiences for years to come.

Jena Glick is a freshman at LIM College, one of the Foundation’s college partners.

I am a fashion scholar student at LIM College, which is located conveniently a hop, skip, and jump away from the Javitz Center in lovely Manhattan. As a scholar, I had the privilege of attending this major retail conference. Although my major is Marketing, and I do have knowledge about the global state of things, the visit to the show was no possible way in vain.

What I realized is simply this…  We must be ready for the change that retailing must undergo to survive.

In a man eat man and girl buys leather world, it’s survival of the fittest and retailers are duking it out to attain high profit amongst competitors. Now that’s nothing new, but it’s how they’re doing it – how the retailers are competing and what new techniques they need to adopt to stay in business through tough economic times.

What retailers need to do worldwide is evolve to meet the customers’ most basic needs. And in 2010, what can we predict those needs to be? Well, location and product differentiation for sure, but what about customer service? Product sustainability? It’s all that and more. In a world of evolving retailing, the business is not the only one changing; it is the consumer as well.

I know I’m a fashionista and of course my main line of thinking may be skewed towards…well, fashion, but in a realistic world, even fashionistas must think objectively and on a much larger scale. Fashion is a retailing business and retailing is the business of fashion.  Fashion will not survive if a retailing shift does not occur.

Dr. Ira Kalish, Global Director at Deloitte Research and speaker at the Global Powers of Retailing 2010: From Downturn to Uptick, noted that at last year’s retail conference, the topic was the recession and staying alive during it and that this year, the topic is along the lines of emerging into the shift in retailing that had begun after the recession.

There were a few major points that Dr. Kalish noted as key to turning the retail industry back into a booming business globally. But, in all honesty, none of it matters unless you get inside the psyche of the customer.

1. Customer behavior – understand how a customer thinks and how they behave, then you can have the slightest power as a retailer.

2. Quality over cost — Customers are a little more leery, now, to buying big ticket items, than before the recession which means that retailers need to give the customer what they want – more bang for their buck. Ensure that products are of top quality and made with ultimate satisfaction in mind, even if its retail value is only a dollar.

3. New structure – Dr. Kalish said that this is the turning point. We had an old structure for retailing and it worked for as long as it did, but now, after the recession it is time to adopt a new structure that will revolutionize retailing for the long haul. With that in mind, retailers have begun doing market research to better understanding how, why, when and all the other w’s of consumer buying habits.

4. Convenience — More so now than ever before, buying is done online. The introduction of e-tailing has revolutionized the entire retailing experience. What retailers have to understand is why?  The answer is pretty simple. Convenience. But, convenience for the customers may come at a price for retailers.

5. Risk taking — Of course there will be risks along the way, in what situation are there no risks? Well, no situation. Risks offer opportunity to see what works and what does not work with a retail business. If risks are not taken, how will businesses know what is possible to increase profitability and what will not work, without even trying? Today, retailers must try something new to get customers back into buying.

So here’s what you have to do as a retailer to stay in the game: adopt a new theory (if the old one does not work). Perhaps increase customer service. Increase the amount of diverse products. Or maybe just increase the amount of expansion that your retail is undergoing. Perhaps expand internationally. Go abroad, but without a question begin an online retail channel, it is not the future of retailing – it is the present!

Jena Glick is a freshman at LIM College, one of the Foundation’s college partners.

In the wild world of wondrous retail, optimism is the biggest ticket to staying afloat in a tough sea of market and competition.  But even more substantially important to maintaining a successful retail business is the actions that are backed by that optimism. The question remains, “What actions do you take as a retailer?”

Although it sounds pretty ridiculous to reduce inventory if businesses are so sure of an increase in demand, it is done with the greatest intentions of all.  “I’ve never seen anyone go out of business because they didn’t have enough of something. However, I have seen someone go out of business for having too much,” said Questrom.

It’s all in the product management. The chain of operations, after optimism is linked in to your retail, begins when inventory is reduced. More money is saved and can be used to differentiate products or to hire more employees. So the old moniker less is more, holds truth for the present and future of retailing as less inventory results in more profit and more jobs.

Job growth of course was a core subject during the Super Session. How can you create job growth? Well, for starters, be happy! That seems to have done the trick for all three of the speakers at the session, who have the experience in long lists of retail corporations.

But much more can be done. For example, decreasing multiple expenses in a number of ways, as Tracy Mullin, President and C.E.O. of NRF said to open the session. If retailers can learn to allocate their money properly, more money can be spent of providing income to employees, which in turn provides job growth.

“The economy today is measurably better than it was a year ago and will be measurably better a year from now,” said Mark Zandi, Chief Economist of Moody’s Economy.com, another speaker this morning.

With that being said, of course retailers have “happy” written all over their foreheads. Now that does not in any way mean that change will come as fast as a headache. As usual, things will take time. The entire world is recovering from one of the greatest recessions anyone has witnessed since the Great Depression and it is a no-brainer that recovery will take a few good years. But as businesses are already seeing changes in profit since last year, the outlook of retail in general is landing upon the stars that they are shooting for now.

Howard Levine, Chairman and C.E.O. of Family Dollar Stores, referenced that Family Dollar’s business is doing well compared to this time last year. They kept in mind the focus of customers during this past holiday season, and that focus, they noticed, was value. You have to focus and know your customer no matter what the times are like. When it came down to Family Dollar, Levine said that much time was spent on researching and gaining knowledge on the demographical customers that shop at the stores. He noted that a store must be adaptable and relevant to the customers’ needs, which are currently prevailing over their wants.

In conclusion, take account of what procedures work for your business and which ones do not. Use the proper techniques to fuel the changes that will present more opportunities to increase profitability and a loyal customer base. But most of all never let the failures get you down, be optimistic and see the sunshine over the cloudy days. Yes, we went through our rainy days of recession, but it is time to come out of the dark and adapt to the new retailing world, and if that means that a little extra work must be done by retailers, such as deeper research into demographics, then so it shall be.

And if a business does not see the immediate results it may have been waiting for, have no fear because retail is on the right track with new technology and innovations coming into light.

Jena Glick is a freshman at LIM College, one of the Foundation’s college partners.

The session that stuck with me the most was “The Power of Retail Design.” Two panels spoke to the unique challenges faced and innovative solutions found in the completion of various store design projects.  What made the discussion so enjoyable was a balance between the familiarity of the brands discussed, and the newness of the interpretations of those brands for different markets and formats.

One such brand was Neutrogena.  As an avid health and beauty consumer, I’m well aware of the brand and its positioning in the United States, but during the session I learned that to introduce the brand in India, an “education mall”, complete with magazine cover-inspired displays featuring layered imagery and text to attract shoppers was developed.  Private consulting and a one-on-one selling process were used to educate shoppers on product skin care and cleansing capabilities.

Another thought-provoking topic was the sustainable L.L. Bean store.  To again reference the session’s interesting paradox of the familiar and the new, I’ve always been an L.L. Bean catalog shopper, but didn’t realize they had brick-and-mortar stores.  Speaker Joseph P. Nevin explained that natural light, high recycled content materials, and repurposed materials were used in the store, paying homage to L.L. Bean’s penchant for stewardship and sustainability.  The store also includes a multi-channel hub where customers can access the company’s website and physical catalogs.

As these two examples illustrate, the projects discussed during “The Power of Retail Design” were quite diverse.  Despite the variety, all of the speakers proved that a multitude of challenges can be overcome with innovative store design and visual merchandising, a lesson I’ll have no trouble applying to situations in my future retail career.

Molly McKenna is a student at the University of Michigan.

Being in New York City is reason enough to write this, but as an added bonus (or should I say main reason for coming) I am attending the NRF Big Show. As a college student, this is a glimpse into the world I hope to be fully submerged into within the next couple years.  

I attended a super session called “The Power of Retail Design” by Joseph Bona and John Wilkins. “Take the product out of the store, and you should still be able to tell what the store represents.” This is a quote that took me by surprise; the design of retail embodies everything from the clothes itself, to the walls and flooring acting as a backdrop to sell the clothing. It’s about creating an atmosphere overall, that creates a good shopping experience. At Ben Sherman stores, they take an anti-retail design approach. The store is plastered with British flags anywhere from the floors to the walls. In one room there is wooden table and thick leather studded chairs, with a chandelier hanging above. Supposedly this pays tribute to when Ben Sherman himself, swung from a chandelier at a party. In this scenario, the clothes are the backdrop, while the focus is on creating a sense of loyalty and leisure. It’s almost like an odd version of your own house, except your house filled with fashionable clothing, who wouldn’t want that?  

I love New York City, I love being at this convention and I love working and being student within the retail industry.  All three of these reasons confirm I am on the right track, unlike many other unsure college students.

Maybe one day, you will be seeing me at the NRF Big Show, not as a student, but representing a company and coming to find the latest and greatest within retail. See you there!

Kalie is a junior at the University of Arizona, one of the Foundation’s college partners.

I am a college student who does not have any household bills to pay, does not have children to support, does not have any regular monthly expenses. Period. I have a job, which means I have the money for the frivolous spending that my age group is so well associated with.

What’s the problem with that?

Well… I’m not spending.

I sat on the outskirts of the recession and watched as it hurt countries and nations. Many have lost their jobs and the income that they once believed would withstand any recession. It did not quite affect me. I grew up in a middle-class family and my mother has always had a stable job. Luckily, she is the only one who can do her job. Simply put, I’ve got the money, but I’m not using it.

Well, what am I waiting for?

I’m waiting for prices to drop. I’m waiting so I can have money in case of crisis. I’m waiting to save. Save for what? Well I’m not quite sure yet. As of now the only major expenses I’m concerned about is the price of college textbooks. (Really? $ 200.00 for a book I’m only going to use once?)

I’m waiting for a good enough reason to spend – like a nice new outfit and an amazing pair or turquoise heels to wear to the NRF’s Big Show.  I am the potential buyer which retailer’s love. But, when I don’t make any purchases, retail dies a little.  How can retail survive if many are waiting it out to spend their disposable income instead of spending it right now?

That is the question that speakers at the Big Show have posed various answers to. Some said give change – introduce something new to entice the target customer. Some said it is not something new that should be the focus; it is the quality of a product or service. Sustainability of a product is the key to selling it.

And then, there is the opposite approach…the answer is not in the product at all, it is in the service. Showing expert customer service no matter what item you are selling will prove to be a top technique for retailers worldwide.

As mentioned by Mark Williams, President of Financial Service for Best Buy Co., Inc., the “blue shirts” are memorable not only because of the uniforms, but indeed because of their product knowledge that is reliable and helpful.

During the Super Session, Execute or Be Executed, Williams noted that there were challenges that  Best Buy Co., Inc. faced during the worst points of the recent recession. Those challenges were faced and dealt with when they adopted and perfected the theory that high quality customer service wins the hearts of a potential buyer. Even if the customer opts out of making the purchase today, they will stick with that retailer in the long run, because they know that the retailer had expertise knowledge of every product.

Well, here’s what I have to say. One answer cannot stand alone as the key to the revival of our economy after a recession – it is the combination of all of them. (The combination of having a helpful employee sell me some lovely turquoise high heels that will not hurt my poor feet and will be durable for many years of wearing). That is what is going to bring back the buy.

Jena Glick is a freshman at LIM College, one of the Foundation’s college partners.

If you are attending NRF’s BIG Show in New York City and are interested in blogging for our Retail Careers Blog, then we’re looking for you!

We’re looking for college students to recap the educational sessions, share their experiences, and provide a glimpse of the conference from a student’s (and future retailer’s) perspective.

The conference educational tracks and topics for blogs include:

• Global Outlook
• Information Technology
• Marketing and Brand Management
• Merchandising
• Online Retailing
• Store Design
• Store Works
• Sustainability
• Supply Chain

Blogging provides great recognition for you and your college/university program. Plus, it’s fun! Let us know that you’re interested by posting a comment below or sending an email to Angela Elder, Director of Certification and Career Development Programs, for more information.

We’re looking forward to reading your posts in NYC!