As UK department store Debenhams announces it will be closing 50 stores, GDR CEO Kate Ancketill discusses the challenges facing physical retail
GDR CEO Kate Ancketill has called on traditional retailers to be brave enough to try out completely new retail models in the wake of more store closures being announced in the UK this week.
Kate appeared on BBC current affairs show Victoria Derbyshire and news radio station BBC Radio 5 today to discuss Debenhams’ announcement that it will be shutting 50 of its UK department stores.
She started by talking about the problems facing traditional retailers and revealed why she thinks store closures are becoming an inevitability, before highlighting a number of emerging retail models that offer a much more optimistic view for the future.
Kate championed Nike’s By You retail store, Macy’s Backstage and Nordstrom Local as formats that offer real solutions to the problems of legacy retail. And she believes more retailers need to start experimenting with new retail formats like these that are tailor-made for the next generation of retail.
Speaking about Nordstrom Local on Radio 5, she said: “This is a potential new kind of model for large space department store-style retail. It is about services and it is about integrating fully that online mass selection that you’ve got, while retaining that physicality that we all love.
“This is a completely new model and that’s something we need to see more of.”
To watch the video of Kate’s Victoria Derbyshire appearance, click here
To listen to Kate on BBC 5, click here