Luxury retail is about ‘emotions, not transactions’

The physical shopping experience matters more than ever, says Value Retail founder Scott Malkin, whose company owns some of the world’s best-performing luxury shopping destinations.See www.mckinsey.com/privacy-policy for privacy information

Some consumer companies have simultaneously increased sales, cut costs, and reduced carbon emissions. Their secret? Paying closer attention to the design of their products and packaging.See www.mckinsey.com/privacy-policy for privacy information

Retailers need a data-informed, collaborative, store-by-store approach to combat shrink. The payoff: higher profits and better customer experience.See www.mckinsey.com/privacy-policy for privacy information

In search of the best deals, US consumers are spreading out their spending across several months this holiday season. Here’s what that means for retailers.See www.mckinsey.com/privacy-policy for privacy information

The most successful retailers will be those that undergo a full reset—by harnessing new technology, creating ecosystems, engaging their workforce, and investing in private brands.See www.mckinsey.com/privacy-policy for privacy information

Which sustainability attributes matter most at the point of sale? Do consumers pay attention to sustainability claims? A new report from McKinsey and NielsenIQ provides answers.See www.mckinsey.com/privacy-policy for privacy information

What does purposeful growth look like in the retail sector? Christiana Shi and Stuart Hogue, former senior leaders at Nike, speak with McKinsey’s Brian Gregg about the company’s formula for serving customers—with a focus on digital transformation and the direct-to-consumer model.See www.mckinsey.com/privacy-policy for privacy information

The department-store veteran explains how retailers can become more consumer-centric, experiential, sustainable, and diverse than they’ve ever been.See www.mckinsey.com/privacy-policy for privacy information

Read more >    Listen to the podcast (duration: 25:07) >  A survey of 30,000+ consumers and 100+ grocery CEOs reveals the challenges—and opportunities—that grocery retailers face today.See www.mckinsey.com/privacy-policy for privacy information

Read more >    Listen to the podcast (duration: 22:07) >  With inflation persisting, consumer-packaged-goods manufacturers can’t rely on the strategies that got them through the past two years. It’s time for a reset.See www.mckinsey.com/privacy-policy for privacy information