Thomas Belk’s Five Observations on the Journey to Digital Retail Revolution

Very very good observations from Thomas Belk, CEO of Belk’s, INC.

Background :

Belk, Inc http://www.belk.com

We’re a (125 year old) department store (retail chain) rooted in timeless values and a rich heritage. We’re committed to delivering fashion and today’s top brands to the modern Southern woman.

 

The 5 key observations by Thomas Belk that all retail managers need to face

1.  (the technological journey) IS NOT A CLEAR PATH

2. Innovation is a skill that retailers have to build if they want to survive

3. Partnerships with technology providers and thought leaders are crucial for survival

4. Top Management has to take ownership if any venture is to have a chance of success

5.  The (retail) operator model is changing and will never change back, prepare for the future

For the full video , 2 minutes well spent, please click here

Thomas Belk’s Five Observations on the Journey to Digital Retail Revolution