In this episode, Barbara and Americus are joined by Steve Sadove who is the former Chairman and SEO of SAKS and now the Principal of his own firm. Steve talks about the resilient consumer and how our buying habits have shifted to contactless (online, digital, and mobile) due to the pandemic, and that the underlying momentum for this shift was already there and majorly accelerated due to lock down and stay-at-home orders.
80% of commerce still happens in a physical location, so in-store shopping is not going away anytime soon. In fact, Steve predicts that luxury, fashion, and beauty are all going to make a big comeback.
They then switch gears to discuss the future of real-estate and how we are seeing a fundamental shift. Rental resets, shorter lease terms, pop-up shops, and businesses partnering together to keep their physical locations up and running are all emerging trends.
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