In this episode, Marco Zanardi, President of Retail Institute Italy, explains how to keep your audience’s attention, how to match your company’s values to those of your customers, and what trends are emerging in the retail space.
Welcome back to Season 2 of Elevating Brick and Mortar! The podcast about how operations and facilities drive brand performance.
In this episode, we talk with Marco Zanardi, President of Retail Institute Italy. Retail Institute Italy is a non-profit Association Focused in the Marketing at Retail field. Their mission is to promote the culture of the point of purchase and retail business. There, Marco manages global innovation projects, multi-functional teams, and oversees strategic plans and executions.
In this episode, Marco explains how to keep the attention of your audience, how to match your company’s values to those of your customers, and what trends are emerging in the retail space.
Guest quote
“The new generation, by and large, has an attention between eight and 10 seconds. We are in an attention economy. Attention economy because you have to get the attention of your client in 10 seconds!”
Timestamps
00:56 - How Marco got to his current role
03:56 - Marco’s retail outlook
08:52 - Competing in an attention economy
18:16 - Living up to customer values
24:16 - Merging the digital and physical environment
31:00 - Looking forward to the future
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Links
[00:00:00] Welcome to Elevating Brick and Mortar, a podcast about how operations and facilities drive brand performance. On today's episode, we talk with Marco Zanardi, president of Retail Institute, Italy. Retail Institute italy is a non-profit association focused in the marketing at retail field.
[00:00:17] Their mission is to promote the culture of the point of purchase and retail business. Today, Marco will explain how to keep the attention of your audience, how to match your company's values to those of your customers, and what trends are emerging in the retail space.
[00:00:31] Sid: Hello everyone. Welcome to the show. Thank you for joining us. I am here today with Marco Zanardi, president of Retail Institute of Italy. Marco, welcome. Thank you for being here.
[00:00:41] Marco: Thank you very much. Appreciate it, your invite. Thank you.
[00:00:44] Sid: Thank you, Marco. So Marco, you are the president of the Retail Institute of Italy, but can you tell me about your journey? How did you start and, and how did you end up in your current role?
[00:00:55] Marco: first of all, um, we have a yearly, uh, journey. So in that, in during the year, we have different events. We are a content creator, so we can develop survey, we can develop a webinar, we can develop events. Bigs small events. We can develop, uh, business, um, training, business training for retailers, for manufacturers or for retail services solution provider.
[00:01:19] Yeah. But you know, I'd like to know about you, Marco. Like, what was your journey like getting to where you are? How did you join Retail Institute? Yes, of course in retail institute there are the election every four years. So, uh, every four years we can have the opportunity to present ourself to the audience. So I have presented myself with other of course competitors and all the audience has decided to elect myself for the next four years. So I, I am the president in charge and, uh, I used to manage the association in Italy and of course in combination with our association in Europe and also, uh, with us, uh, point of sales.
[00:02:03] Sid: Got it. And were you always involved in the association and in retail specifically, or, or did you join over the past you know, few years?
[00:02:12] Marco: No, I was, uh, before I was vice president as retail institute, and also I am an entrepreneur in the other side of my, of my life. I have an retail design agency developed. The, uh, retail concept is developed. Big chain or small stores? It depends. The clients and we are connected with different international and local companies. Just an example, Vodafone is our client here in Italy.
[00:02:41] Sid: Love it. So tell me about the Retail Institute of Italy. Like what is your north star of the organization? What do you do? What's your main objective? And you know, what is the kind of impact that you want to have in the retail landscape?
[00:02:57] Marco: Thank you very much for the question. It's relevant. Appreciate it. And we would like, as a propose to, uh, have a long term, insights from our industry and for our members. So we would like to do the midterm, the long term, and the short term we would like to share with the retailer industry the news, we would like to discover the trends. We would like to produce content strategy, and we would like to share with them, uh, what's happening around the world. Just to have an idea. We have 14 cities around the world that we use to, uh, monitor every week.
[00:03:38] Sid: Yeah.
[00:03:39] Marco: and physically, because we have there a lot of cool hunter or other, uh, trend analyst that gave us, uh, insights directly from the region. So we are a sort of content creator, culture, uh, creator for the digital industry. We would like to share with the retail industry, which are the directions they have to, to take or the opportunity to, to, to analyze.
[00:04:06] Sid: No, that's perfect. So, what are your views of the retail landscape today? When you look at, you know, the global retail industry. What's your outlook? Do you have a positive outlook on retail in general, or do you think that we need to do some significant transformation to help stay relevant as and also excel?
[00:04:28] Marco: Really awesome question. Thank you very much. Great question. Um, so we are, we have two, uh, two souls. In one side, we are totally positive because I would like to share with you and a couple of data, uh, the global turnover of the world is 100 US trillion dollars. The retail industry has the weight around 28 US trillion. So we are a big industry in the GDP worldwide. We have a, we have a trend. Very interesting because until 2050 we have to, uh, gain, uh, 180 US trillion dollars about worldwide, uh, gdp. And also the retail industry became more and more big. So we are of course, in a positive environment. In other side, of course, because you know the geopolitics economy, there are a different problem about the switch that we have from old economy to the sort of new economy. We are more hype in hybrid economy, so digital and physical. We are in seven generation around the world from the retired to the Gen Z. Through the millennials, through the boomers, through the X Generation. So see this, it's very important to understand, seven, I would like to sign with you seven different generation around the world. So, We have really, uh, to understand the behavior, the consumer behavior through seven generation.
[00:06:10] Sid: That's pretty interesting. We have to all keep in mind that we are catering to, they all have different needs. They all have different outlooks, and it's very interesting, right? Because we're competing for mind space, we're competing to ensure that we connect with each generation in their own way because you know, they all have a different expectation from the brands they love.
[00:06:33] does your outlook change when you think about global brands and then you can just. Narrow down and look at Europe specifically, cuz Europe is not just one culture, one kind of point of view.
[00:06:45] And you kinda have to cater your values and what you're offering your consumer based on each country. Right. What is, what's your outlook on that?
[00:06:55] Marco: Yeah, so we are of course in, uh, the retail Zeit guest to the spirit of the time. We are in a hybrid situation because we have the technology that is running very fast and with an intensity very, uh, tough. So we have also a lot of new generation, they have got the technology in so quickly way you can guess. You can imagine your children,they are managed the tablet or the smartphone in a very quickly, fast way, in a very clever way. So we are in front of a very, how can I say, strategic shift. In the other side, you can find also in Europe, in Asia, in Australia, in US, north, south, et cetera.
[00:07:45] We can, you can find a very relevant uh, impact from the mobile phone. The mobile phone is the new gate for information. By and large, you have 85% of the sales that comes through from the physical store. So the bullet that the physical store is need to change. The physical store need to change because, of course the new generation, the globalization, the matching, the different culture around the world, they would like to receive, of course, services in a quickly way, just one bullet for, for all. Google said that if you have a website that doesn't answer in three seconds, the people leave your website. So just an example, if you are a Walmart and your website doesn't answer, doesn't respond, doesn't give the information. In the slot in the range between three and six second, you lose your finalists.
[00:08:48] There is a very interesting, um, bio, uh, technology research. The new generation, by and large, has an attention between the eight and 10 seconds. So they would like to receive your information physically or digitally by and large seats in a range between eight and 10 seconds. So you have to catch the attention for that. We are in a economy, an attention economy. Attention economy because you have to get the attention of the, your final client generation, et cetera, et cetera, in 10 seconds.
[00:09:25] Sid: Yeah. we're competing for mind space, right? Somebody is looking at your site, they're in front of your store, you have a certain amount of time to grab their attention. And if you don't, they're gone. And they might, and they don't have to go somewhere else.
[00:09:42] They just don't have to do anything. Like, they just can walk away. And, and that's the challenge. It's just like, how do you make, you know, your digital experiences, respond fast enough to the consumer attention, you know, and, and how do you ensure that if you're someone who's in front of a store, that the physical space is inviting and grabs your attention and says, come in, walk in, as opposed to just continuing to walk down the street.
[00:10:08] So all of that is connected. And what's interesting, uh, Marco, I was at the, at euro shop early this year where you and I met. and it's amazing to see all the different things that the innovation, that is being tested to try and do exactly that, which is have this convergence of the digital experience, but in a physical environment.
[00:10:31] In the one example that I thought was fantastic is, if you're gonna buy wine, right now, today you just go and you into a store. And there's thousand bottles of wine. But you know, you have to look up on your mobile phone, uh, about the wine, what it is, what it goes well with, where it's from to like educate yourself.
[00:10:53] But some of the innovation that's, that I saw at the show was phenomenal in the sense that, you're in front of a screen and depending on what you pick up, it showcases on the screen, what the wine is, where it's from, what kind of food it pairs with, why you should like it.
[00:11:11] And immediately you are informing the customer about something that they have to then go and find, and now they don't have to because you, you're presenting it in a proactive environment and now you've grabbed the attention of the consumer.when you think about all the C-level execs you interact with, like you meet a lot of C-level execs, um, and you hold events where you've got, uh, leaders of these, of these concepts and these brands coming and having conversations and having panels. Can you share with us, what are the hot topics that they care about? What excites them and what worries them?
[00:11:50] Marco: The new generation and the new leader are very, very, very, I would try to underline three times.
[00:11:57] Sid: Yeah.
[00:11:58] Marco: Focus on the customer centricity to redesign the retail environment because you can't maintain the same retail environment for your entire life. So you can't redesign a store every 15 years. You have a retail design cycle every 3, 4, 5 years. So means that you have to set up and you have to, uh, have the ability to, um, how can I say, manage your, your in store. Just an example. The Nike store has to, can manage through the digital signage. Just an example. Or through the digital communication or through the physical communication. Every week they have to insert in the store events. Walmart has developer, the new, uh, in store activation for plus 3% .In respect to the last year, so in comparison to the last year. So you have to maintain the soul of your store at the level that your final customer would like to see, because as we told before, we have a sort of attention that, uh, is very fragile. So now the new generation and also the old generation are received a lot of overwhelming of information and insight. So if you wanted to get the information, the attention the mindset of your client, you have to reset your install. The retail dynamic environment means new communication, new activity sites, new experiments. Nike, just an example. They can do also, not just automation, but they can do test for your foot. Which type of, uh, foot do you have? In which way you can have the foot or the shoes right for the sports that you do. And you That's right. Yeah. You can analyze in details, which type of shoes is the best for the style that you have?
[00:14:06] Sid: What I also hear you say is you have to adapt and keep improving you. You can't just have one design, one style, and then sit on it for 15 years and build the same type of store. You have to keep exploring, adapting, experimenting, because the consumer expectations and the consumer.
[00:14:28] idea of what a retail environment is, is changing constantly, and the ones that are gonna do well are the ones that are just continuously experimenting, improving, and, and also preserving what they already have, right?
[00:14:43] Marco: We are in a world more, of course, contaminated. We are in a world where the, the, there are two billions of person that, um, bring the plane every year. Two billions. So we are eight billions in the world. So there are, there is a share of person around the world in a very high quantity.
[00:15:06] So they see, they receiving insights, they have a contamination from different cultures. They see a lot of, uh, insights from the media. So for that day of mind is changing every week. Another points, we are more emotive.
[00:15:24] It's very relevant to today. You can't just have a vision, mission, and marketing strategy. You have to share with the final client, which is your propose, and they would like to see in your point of sales, you would like to see in store. They would like to see that you are engaged.
[00:15:44] In, in a brand operation and the brand, um, op and strategy. So just an example. They would like that you respect the area around your stores that you would like, that you respect, and you have the, the wonderful facilities. Because today, as I told you, the level of the cognitive, emotional and effective is raising every day.
[00:16:09] We are a new area. So as I told you before, every, every, uh, generation would like to receive more attention today. Today's statement, their declaration through their rights in what they believe, and they would likely you believe on that.
[00:16:28] Sid: That's right.
[00:16:29] Marco: So
[00:16:30] Sid: Yes. I love that. Yes.
[00:16:31] Marco: patient, you have to put patient, I, I, I give you another point. The point of this, as I told before, is not a transactional point. Until, I dunno, five 50 years ago was, wasn't that way now. No. Now we are in a shopping area. In a shopping era, means that I would like to stay in a beautiful environment.
[00:16:51] That feel myself, very, very, very comfortable with the, with the place, with the brands. And for that, if you display this, you can receive the loyalty from the client. Cause it's true. You can receive, because, just an example would for market, Nike.
[00:17:10] Nike is growing every, every year, of course for the product, but not just for the product. They can stay with the old, uh, approach, with the old mindset.
[00:17:20] They have to change, they have to reconnect with the new society. The society is changing, as I told you, every day, every week, every year. So
[00:17:32] Sid: That's a hundred percent right. Consumers today expect that their brands stand for something, right? You can't just have a great product. It's not enough. You have to do the right thing. You have to have some beliefs as a company, because that will invoke sentiment, that'll invoke loyalty.
[00:17:51] You mentioned about sustainability. Companies have to have clear goals as it relates to E S G, and they have to execute. It can't, they just can't greenwash it. Sustainability is a real, real issue in, in the sense that if we don't do things in a sustainable way, we're gonna have a massive crisis, even more than we already have today. This is already happening. It's already here. Um, I'd love to hear from you about, the crisis that's happening in, in Europe right now because there's a energy crisis there.
[00:18:24] Brands are, are taking action in Europe more, ahead of the curve, if you may, than I think brands around the world. So I'd love to hear on what you are seeing brands do to get ahead of it and to do things in the right way and to be more sustainable from how we build, how we manufacture, and how we maintain, so on and so forth.
[00:18:48] Marco: So means that you have to manage the values, you have to manage the consumer image, the brand image you have to manage, of course, the services you have to manage your environment, that that is in line, with your values. So you can't speak in one, one hand in one way, and in the other hand you do another point to another no for the new generation, it's not more acceptable. This type of approach because they have comparison.
[00:19:18] We have more information. We are not in a low or scarcity information so we can match. So they can match Adida and Nike. and also it's relevant to gather data. Because we can gather a lot of data from a lot of different customers.
[00:19:37] Because you have a lot of millions of person people that come inside your store. So you can gather from store analytics through interview from your store associates. You can gather day by day insight from your products, services, marketing sites, brands, sustainability approach, export or post store services, nudging, nurturing. Drive to store. In which way can I explain? If you don't know, if you are not a geek, if you're not a technology nerd, just an example in which way I can teach to you to set your email. In which way can I please brands help me because I'm not able to set my email or to download the WhatsApp, oh, I don't know, telegram or whatever you want.
[00:20:30] Just an example. So that's what I mean about advice companion. In New York City, in every exhibition that you can do, you can do or you can go, you can, um, listen from different speakers or different research company, et cetera, that you have to do a lot of training to your store manager, to your store, uh, assistance because the, they are the first relevant technology between your customer and your brand.
[00:21:03] That's the point. They have to manage the technology. They have to understand the church, G p T, but in store, because I told you, 85% of the sales comes from the physical store. So the physical store just influence it from the digital environment, not by space. So you have to manage, I was with the fashion company last week and they would like to insert to put in in a, to the storefront to, how can I say, enhance the store manager approach.
[00:21:38] But they would like to training because Chat GPT is a resource, but it's also brown research. Because you can receive not the right information for chat g P TT is not a gold, it's just a, a clever, a clever pc. It's a artificial intelligence. You know what I mean? So you have to manage, you have to understand which type of answer and feedback chat g PT gives to you and just if you are a very, how can I say, train it a retail manager. You can manage the technology in store and you can give, to the final client, to the right services.
[00:22:15] Sid: Absolutely. I think it's gonna be amazing to see one, how chat G B T kind of changes the world of AI. And it's gonna be interesting to see how brands leverage aI going forward to augment the customer experience.
[00:22:30] You can't lose the human element. You have to leverage the new technology and the, and the AI to actually make it easier for you to deliver the best kind of customer experience.
[00:22:42] Marco: Totally agree 110% with you. That's another framework, another mindset that the C level and also the BA level. So the other level of the organization, they have to understand, you have to teach to, to, to train your managers in store, to manage, to enhance their ability to define our customer. If I can storage your feet details, For me, it's a very, an advantage, it's a competitive advantage because I can remember you, when you come again, I can say hello since how are you?
[00:23:19] Blah, blah, blah, blah, blah. So that's the, the points.
[00:23:23] So services, we are now shifting a little bit, not 100% from g D l, good dominant logic. So the logic dominant on the, on the goods. Two service do logic. The acronym is sdl, so means just an example, apple. You have to give more services because the products are respected. The products are respected.
[00:23:48] Sid: Hmm. Interesting. Yeah,
[00:23:51] Marco: Services. Services. Also Sky, also a lot of Netflix. I can, I can share with you thousands of of cases, business modeling that are surviving Also, Walmart also.
[00:24:07] Also are adults also Nike. A lot of store brands or retail brands have to share their experience through the technology. Because the, the final client would like to receive the service.
[00:24:21] Please teach to me and that way I can do, I can do my loyalty. I can share with you my stickiness.
[00:24:28] Sid: Absolutely. Uh, Marco, let's, let's pivot a little bit. You talk about two concepts that I'd like to get your thoughts on. One is you talk about the concept of the retail loop I'd, I'd love to understand what that means. And you also say retailers today must also become publishers. Can you explain that as well?
[00:24:47] Marco: Wow. Beautiful sense. Beautiful question. I love you very deeply. Because retail now is, as I told you before, it's not a transactional point. So as an experience point, as a shop, uh, point, you have to engage the client before that client client's personas.
[00:25:09] Because today the digital, influence the physical environment. Just an example, we would like to find through Google a lot of information before to go inside. We would like to have some ideas about my, I dunno, reach before to come in to, to Best Buy. Just have an idea. So it's really one that as retail marketing, I can start from home. To share my information so I can share through retail media. That is one of the new frontier that we have. Your social, your same sales. So, the searching engine optimization, so the, the technical, the some market marketing techniques that able to you to find your customer from home and drive to store. You can share with them that there is some promotion, that there are some events. So in that way, you can engage the client before, from the, the, the home to your point of space. When they are in store, you have to manage their in store. So in physical way, through events, through experience, through metaverse, in store, whatever you want, physical or digital way or hybrid way.
[00:26:26] But you can, and enhance they're emotional, engaging with your brand. And after that, when the final customer jumped to all or leisure time, you can also follow them with just an example with nudging, with the nurturing. So
[00:26:44] We are changing the approach because as I told you, we are in a retail is brand we need to share more content. So we have to become more a brand journalist. We have to share. Uh, some, uh, details about our statement. Just an example.
[00:27:00] Samsung is talking about the balance between, uh, your private life and your work life. The work-life balance to manage in the right way. So they don't want that you have some problem about to, how can I say, to manage a lot the mobile. So it's a, uh, how can I say the approach, just to have an idea. In the other side, there are a lot of retailers that are suggesting, uh, the way that you can, uh, bring your foods, uh, in different way and to, um, how can I say, to manage. All the, uh, pipeline, the food. So you can also buy a yogurt two days or one day before the, the yogurt, um, will, um, will die. Will die because the date of expiring date is coming.
[00:27:49] So that's in a sustain, in a sustainability way. So have to teach to share with the final client through a brand journalist, through content, not just through some bullets. Bullets is just through the managers, but just sids as, as final client. I have to share with Sid stories, storytelling, have to share, uh, notice, have to share, uh, of course emotional side, but also cognitive sites in Japan, there are some retailer that are, that are explain explaining to the final customer in which way to have to manage the bananas from the early stage to the maturity stage. Because in that way you can manage the bananas or the fluids at your home. Si. You know what I mean? That's a new as is a. Uh, brands and has more content, more sharing information in detail and elevate the culture of final client because as I told you, not all the client has the same level and the same interest, of course to follow everything because they probably has, uh, some passion, I dunno, in marginal and not, and not in, uh, to understand the bananas lifecycle. You know what I mean? So that's
[00:29:09] Sid: total sense. I love it. I love it. It's a journey. the transaction doesn't stop at sale. It continues. And, and the relationship you have with your consumer has to not just be about the transaction, it has to be about educating them. like you said, the storytelling, giving them the opportunity to understand what to do with the banana too. Like not, don't just sell them the banana, tell them that they can make banana bread with it.
[00:29:37] Marco: exactly.
[00:29:38] Sid: That's
[00:29:39] Marco: That's true.
[00:29:40] See, That's true. I believe because I'm, I have passion on my work and I know very well that a lot of survey that you can do for different research companies for can Nielsen, iri, whatever you want. They all says that you have to manage to bring your client before to go in store, in store, out of store, to share with them culture, to share with them storytelling.
[00:30:07] Italy in us. It's a case of sis because they explained Italian products. Is just an example of mozzarella or pizza or spaghetti, whatever you want. But in that way, because the final client can understand which are the origins, the history of that, because in that way, also they can share with the friends, with the family.
[00:30:32] This type of story. So you have to talk with your kind and it kind give you an answer. So for that, you can also manage the data through the social listening. Just an example, because they are talking about the social, about my store. Oh, my store has given to me a new received, and I have shared with my friends this evening everything was well, blah, blah, blah, blah, blah, blah.
[00:30:55] So it's a, it's a very, how can you say, stickiness strategy. It's sort of black hole strategy. Know what they mean. In asic, black hole is an energy that can get you, and after that they can maintain you in the.
[00:31:13] Sid: Yeah, I, I get it. I get it. For sure. Marco, let, let's, let's, um, talk about the future, right? When you look at the future and you look at, what's going to happen and the outlook for the next three to five years and beyond, what excites you? What should we be conscious of?
[00:31:32] Marco: Because it's important, the data driven and it's important the forecasting. And the forecasting, so the data. Really Well, you have, you must have. No, you have to have, you must have, because it's relevant as we told until now.
[00:31:47] To understand your final client to manage and through the data you can to improve the daily operation. You can more efficient and efficacy, but you can stay just in this closed fortitude because from the data you have the experience done what SEED did yesterday, two days ago. Wonderful. But you have also to project to, to put in the midterm division of seed.
[00:32:18] Just an example for all the audience, all the generation would like that the store became more sustainability, more sustainable. That's a mega trend that you have in front of your brands for the next 10 years. So in which way can I set up of course design and after that set up and display a midterm sustainable, sustainable strategy?
[00:32:45] Just an example, IKEA with singular university that is a particular university based in US and Houston. Uh, they have managed a point of six, a new generation of point of six. They did one experiment in Austria, Indiana, and then with no park inside with just trees inside with a lot of services at all. So, Just to understand in which way the customer can appreciate the mid longterm, because you can't do every day the same.
[00:33:18] Just would like to put the banana in one side, in the other side, another banana or tomato and side. Okay. It's a merchandising environment. Wonderful. But you have to understand through the four sides that are some techniques that able to you to understand which are the trends. In the middle of, I told you, sustainability, social sustainability is another point.
[00:33:43] Content strategy, a lot of, uh, digital strategies says that through the content you can manage the audience and you can drive to store the audience. So you have to understand in the mid, long term, which type of environment, the design, you have to set up services, the facility services, not just the daily operation.
[00:34:05] So from my perspective, we will have a less. all the point of sales, a new generation of point sales with inside a lot of experience because the final client would like to have experience. Just an example for all in Verizon store. Just an example. You can receive now, today, a signature on your, on your phone That's a good point because the, the, the cast final customer would like to have a mobile phone personalized, not customized. It's different. Customized. When you have a group of personalized is just for seed. The daughter of seed on my mobile phone, you know what
[00:34:49] Sid: Yes,
[00:34:50] Marco: So for that, you have to implement this type of Sephora is saying, is doing this type of personalization. So you have to implement a new generation of stores, this type of personalization because you have also to do an organizational process to answer to the final client requirements.
[00:35:14] So for that, I suggest from my perspective, three dimension. In one side, forecast, data, data, data, data, data from digital, data from storing sites, data for computer vision, data from social data, from everything from mobile, uh, um, flow, people, flows, et cetera. In the other side, flow for, um, four sites, that means to scan the medium long term.
[00:35:39] Another example, the quantum computing that a lot of retailers doesn't mind or doesn't know. It arrives in eight years. So you have to understand, first of all, what is quantum computing and what does quantum computing, first of all, because after that, after your, um, mindset about that you can deploy in the organization a quantum part.
[00:36:03] And last but not least, the anticipation. So if in one year I will have a quantum computing, I have to set up a backwards. From eight years to until to today. So in which way I will be futureproof operative in eight years. With Quantum, you have to set up your it, your IT environment, your people. You have to train your people.
[00:36:27] to have a mindset in the culture, what it means. Shift from the actual, uh, PC code to the quantum code. So to code, it's a different type of approach to the, so that's from my perspective.
[00:36:48] Sid: That's amazing. I mean, I, I see you're very passionate about that topic to the point where, from what I understand, you are getting your PhD, congratulations, by the way. And you are working on this very topic, right. Can you, can you talk a little, little bit about the thesis of your phD?
[00:37:05] Marco: I'm, now, I'm running the, the, the thesis about corporate for sites and retail. So I'm focused because I'm, I used to work in a retail environment, retail industry, so I'm focusing which way the retailers, all the retailers, not just, manufacturers or from pure retailers or digital retailers.
[00:37:22] So whatever in, in every categories in which way they have to understand. The new competitive advantages. Just an example for all, because I know that a lot of audiences would like to understand if Amazon was just a library and Amazon was just following the data, Amazon, uh, would have just a beautiful library.
[00:37:46] Sid: Right, right,
[00:37:47] Marco: know what. Amazon has understood through the four sites that they have the, they have had the necessity or the needs to develop the aws.
[00:37:57] Sid: that's right.
[00:37:58] Marco: So through the ForSight, you can scan the environment and you can understand which will be. The competitive advantages for you. Just an example, through the political insights, through the social insights, through the competitive insights, through the technology insights, there are a lot of will that can help you to understand the macro environment, not just the micro environment, not just the merchandising, but the macro environment around you and in which way you can.
[00:38:30] Choose the possible future or the preferable future for your brands because just an example, not all the brands can adopt the technology that will can adopt of. But probably if you are a medium retailer, you can adopt a sustainability strategy. Just an example, you can adopt a sort of rec recycled strategy.
[00:38:51] You can adopt a new, just an example, energy management in your facility through the panel. So the corporate sites help. To understand the competitive advantage in your corporate strategy, in your processes, in your innovation. So which type of product you have to launch if you are a private label, in your corporate strategy, retail, which, which type of private label you have to launch in the future, you know what they mean?
[00:39:18] Sid: Absolutely. I love it. I wish you the very best Marco with that. let's, let's end with a, with a fun question, Marco. putting your consumer hat on, what brand is your favorite, like what is your go-to brand that, that you think pulls on your heartstrings and, and gets a lot of loyalty from you and your family?
[00:39:40] Marco: From my perspective. I love Apple. From my perspective, apple serve the final client. They have, uh, how can you say in their mind the customer experience they have in their mind services?
[00:39:53] Just an example you can receive from Apple, all the updating in your software without any problem. So you don't have to manage your software through yourself. Of course it's beautiful also because we are not all equal in the world. So just an example. Si love Samsung or I dunno, other brands in any case, because probably you are more than than me or more geek than, than me and you like, but from my perspective, I love to receive insights advising for the brand, also from Nike, also from Best Buy. Best Buy goes to your home to understand which type of monitor you have and you would like, and you could have, and you should have in your, in your ho at your home because probably you don't know that you are bringing, I dunno, a too big monitor and probably for your space, for your, uh, diano so far, something like that.
[00:40:50] We are in world service based.
[00:40:53] Sid: I love it. That's fantastic. Well, Marco, this is a fantastic conversation. I truly, truly appreciate it.
[00:40:59] Sid: That was Marco Zanardi, president of Retail Institute of Italy. What is abundantly clear from our conversation is that brands today understand that they're all competing for consumer attention and loyalty. And the way to gain this is to not only give them great experiences, but also to build a relationship with them, not just up to the point of sale, but also beyond.
[00:41:24] With personalization, with great service, but also doing the right thing, being responsible, having values they can resonate with. Some brands are doing this successfully already today, and some are gonna have to just figure this out to stay relevant and to stay on top. . With that, I'm your host, Sid Shetti, and I'll see you on the next episode of Elevating Brick and Mortar.