Brands and retailers have to accelerate their digital processes to face a new reality.
That’s what fueled entrepreneur Liz Bacelar to start Decoded Fashion in 2011, a series of digital summits that aimed at bridging that chasm.
“Products have been exploding around the world, so if you decide you wanted to do tech, how the hell do you do it? There are thousands of chatbots to pick from, so how do you pick what’s good for you?” added Bacelar, who went on to work with the likes of Cartier, Mulberry, Tiffany & Co, Swarovski and Burberry, among others, via The Current Global.Liz Bacelar hosting Innovators, a podcast in its fourth season.
“We are now in a position to be able to go to these brands and say, ‘Let’s face this new normal and do more challenging things together,'” said Bacelar. Zoom may well be a great business conferencing tool , but she would argue that it’s limiting with regard to consumer-facing events, and brands should embrace more up-to-date tools and understand that there’s “a rainbow of possibilities.”
“The moment you remove the physical stores and social media, brands don’t know what else to do, because that’s all they think about.” “We’re going to see a lot of closures in retail, especially in the United States. There are a lot of nonstrategic physical spaces. When you see how a start-up opens stores, they look at the data first to decide where they’re going to open the store and how big it’s going to be. That’s not how most stores have been opened. Data has never been there, so those stores are going to close, but you’re not going to see the removal of physical retail,” said Bacelar.
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