GlobalShop, North America’s largest showcase for anything that happens in stores, happened two weeks ago. Attendance registrations were up 11% over 2011, a promising sign of renewal and growth in our industry.
I have attended these events for years. My, how times have changed! The events have become better-attended, more educational and more international. Ours is a vital, dynamic industry.
Why is our industry so dynamic? First, people buy in stores. Yes, yes, more and more online buying occurs but still 92%+ of every American consumer dollar in spent in a store, not online or through the mail. Stores matter to both buyers and sellers. It remains the only place where the shopper, product and mindset to buy coexist simultaneously. Instant gratification!
Second, while we serve the largest consumer packaged goods companies in the world, ours is a deeply entrepreneurial industry. Companies large and small compete on the basis of creativity, responsiveness, execution and value. Competition drives dynamism.
Third, buying and selling is rapidly evolving. Technology-enabled shoppers surf for information, seek & share recommendations and comparison shop. Online and in-store are converging. Stores deploy new technology to communicate and employ data-mining technology to predict and spur purchases. In-store dynamically unites consumers with the products they need and want.
The oil and gas industry is having a dynamic impact on our eastern Ohio region but in-store dynamism spans the globe. Ours remains a great industry with great opportunities.
Posted on 5/15/2012 at 8:00:00 PM