How traditional retail thinking about influencers in the social commerce space, how retail is evolving from brick and mortar into commerce and the future of retail is digital but the future of brand is physical, and how transitioning into advisory and philanthropic roles has provided additional insights…
Marigay McKee, CEO and Founder at MM Luxe Consulting, and former President of Saks Fifth Avenue, and Former CMO of Harrods, shares her story with George Manley (CEO & Co-Founder of SOULER) in the MouthMedia Network studios. Presented by SOULER.
In this story:
- The modern transition from brick and mortar stores to online, and the collapse of iconic retailers such as Sears
- The future of retail is digital but the future of brand is physical, and preparing for the consumers of tomorrow
- The 3 E’s; Experience, Environment, and Emotion, the 3 H’s; Hard work, Humility, and Humour
- Marigay on running her two companies, MM Luxe Consulting and Fernbrook
- Being lost in translation, British humour
- Mohamed Al-Fayed belief that Theater and Activation of retail is what makes the magic happen
- The death of the old department store model
- The U.S. has the highest per capita density of Department Store in the world
- How do you merchandise 2,500 brands in a meaningful way.
- Department stores and their future, competing with Amazon
- China’s 500M millennials and the differences between US and international millennials
- America’s youth looking towards non branded goods, gift bags, saving the environment, wearing vintage, street wear: How do brands reinvent themselves for a younger consumer?
- The age gap between average department store consumers vs online
- Marigay’s vision for luxury retail in the future, catering to best in class, world class experiences. If you’re not focused on service, why bother?
- Inclusivity is the new exclusivity
- A mix of humanity and technology is the right equation for the future of the retail experience
- Showcasing the back of house, behind the scenes, and building a brand’s story, you should fall in love with the story and in doing so love the brand.
- Buying less while buying better
- Peter Marino and Michael Burke’s argument over experiential environments
- Charm and charisma, the two most underutilized instruments in business
- Marigay’s philanthropic work, and her marriage to an American and what he’s taught her about philanthropy
- Europe’s inverted philanthropy vs America’s external philanthropy
- The impact of The Gates Foundation, The Soros Foundation, and The Ford Foundation.
- The Rockefeller University and its place as a leader in medical research and roster of nobel laureates
- The Highline and opening The Shed, a new cultural institute which has raised $550 million privately
- Her role as a consultant for The Hudson Yards Project
- Investing in brands: what is it going to take to scale, what’s the wow factor, what’s the point of difference, what’s going to help that brand generate more revenue?
- What does experiential mean?
- Infrastructure, a way to prepare for the future. China has built 67 new international airports vs US’s 1 in the past 20 years
- Eyeing the Big 4: Amazon, Facebook, Google, Microsoft – their role in the future of consumerism
- The need for bipartisanship in dealing with prison reform, healthcare, the environment, and infrastructure
- Marigay’s father’s efforts to improve the lives of his constituents in his later years
- From tea to coffee, and Marigay’s love for America
- Getting out of your bubble and making a difference: how do you effect change?
- The power of dialogue, the need for proper civil discourse
