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Barbara Kahn

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2018-10-17
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2018-10-17
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  1. Yeah, if the market gets competitive enough, if you don't have enough competition, and that's why whenever I give a talk on any of this stuff, I ask the room, is Amazon a good guy or a bad guy? And it's always 50-50. If you're a customer, if you're a customer, you say Amazon's a good guy. Right. If you're a competitor, your face gets red and you just hate Amazon because competing against Amazon is so difficult. But most people will agree what Amazon has done is raise the bar.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  2. You know, like I said, when I was writing this book, it was shocking to me that I have been teaching marketing for a hundred million years and we always cheaped these principles of customer value, differential advantage. And the third one is selectivity and concentration, which has to do with segmentation. And that I did not realize until I sat down and wrote this book and thought about what Amazon did that retail was not customer focused. That is like so amazing to me because retail is about selling to the consumer. How could they not understand that the consumer input is important and it shouldn't just be a push strategy? It's amazing to me.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  3. Do that, you're in the right place at the right time for potential promotion because a lot of movement in firms are not so systematic. It really is an accident or somebody got hurt and someone needs to step in and do something. These opportunities come up and they say luck is hard work or however they say that someone's lucky was working hard for that lucky opportunity

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  4. Well, one of the things, you know, when I was the dean of Miami, I talked to a lot of successful deans always talked the successful alums. And I asked around what advice would you give students? And from talking to all those people, I came up with three things that they said really made a difference. The first one, and they seem obvious, but sometimes people don't know this. The first thing is work hard. You know, don't take it for granted. You're given a job, a job that maybe you like, work hard at it. The second one is be nice to people, be nice to everyone, from the receptionist all the way down up to the CEO, pay attention because people watch that behavior, you know, going back to this notion of self-monitoring, understanding how you come off to all these other people, and that matters. And the third piece of advice that people said over and over was don't just learn what you do, learn what your people on both sides of you do also. So learn other skills, and then when you...

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  5. Apple Watch on the same hand. At least I have things on two different hands. Why both? I like when I'm working out to self-quantify. So they measure different things. I have social networks that are connected in different ways. I compete on all of the stuff. I love it. I love to see how my heart rate was today, how well I slept, all of that stuff.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  6. You know, the more the older I get, it's interesting for this, the more important I find running, working out, being outdoors, walking. I could spend when I was younger long times at a desk. Now if I do that, I go crazy. I just can't stand it. That's why I'm glad I teach because you walk around a classroom. But I really like the outdoors. I like running. I like working out.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  7. Well, uh, you know, there's a couple times they're difficult to talk about. But what characterized the times at several points during my life that I failed where something came as a surprise to me, that's what I would say. It's a function of mine not being a very good self-monitor. And what I mean by that is I think I have a lot of empathy and I can see what's going on. I look around, I see a lot, I can feel people's emotional reactions and things. But what I am not good at is... Understanding how I come off to other people. So that's called self-monitoring. I don't anticipate, maybe if I get angry how people will feel about that, or if I'm short or say something very in a quick way, I don't appreciate that. And that's gotten me into trouble to not understand it's not just what I see, but it's how people see me.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  8. Well, some people have tried to do it. I guess some people like the game of that. I don't know. Very few. You know, it should be disrupted then. That's what you're looking for. Things that are not pleasant that people don't want to do. Somebody's going to come in and do it right.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  9. I think we're going to continue to see retailers that just don't cut it go out of business, and I think that's okay, you know. And I think Amazon's going to keep pushing. They're going to go into other businesses. I'm really interested to see what happens. They're talking about the retailization of healthcare. Talk about a situation that is so not customer focused, is healthcare. I mean, you can't get worse service in a health, you know, in a health cable is probably your closest bet. So I think you're going to see changes in all of that. And the idea that this retail model has legs, that it should apply to lots of different ways of thinking, I think that we're going to see big changes there.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  10. You can wear goggles and see what people look at at the store. You can see what they look at online. We start to see what automatic reaction to visual. You know, you said your wife was a designer. It's kind of interesting to see what people are struck by, how they scan a product. So this new neural marketing idea, the idea of new ways to collect data, new ways to get in people's heads, or to see what they automatically and can't tell you they appreciate, when you start to care about what customers want in retail, these different ways of measuring it is pretty exciting

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  11. Well, one of the things I'm starting to do, I'm thinking of working with a partner to develop a new course on visual marketing?

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  12. Yeah, yeah, right, yeah. Those are the two ones I read. I have to read so much academic stuff that it's sometimes hard to read books.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  13. Related or not? You know, I was an English lit major, so I read lots of fiction for a really long time. And my favorite books would be The Classics or some of the best-selling fiction. But most recently I have been reading more nonfiction. So I really like, you know, Malcolm Gladwell, Michael Lewis. I also like to read female comedians, so I like Sarah Silverman and I like Tina Facebook. I like I read both of those books.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  14. Well, I've obviously Starbucks invented customer experience. The third place and all of that stuff. I can't tell you how many Harvard cases are written about Starbucks. Yeah, so that whole idea, when they described experience is different than the way Amazon described it, but they understood that also. So I also like TJ Maxx in Burlington, the notion of the treasure hunt in those stores and how they keep the prices weigh down and still understand scarcity and exclusivity. You know, that's kind of interesting. You don't want to go into a store and see 20 different of these dresses on a special price. You want to find one that's just for you. You know, that's an interesting idea.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  15. Yeah, and small businesses like it, but it's also the, you know, they sell gas, so you have to drive there anyway. They have the in-store sampling. There's a bit of a treasure hunt feeling in Costco. So the point is that there's something they're doing right in the physical store to make people... Have two memberships. I'm really impressed with them. I visited Costco in Seattle, and I just loved that. I loved their philosophy. I love the way they think.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  16. And there's a data point I saw that said 60% of Costco members are Amazon Prime, which means they're holding two memberships. And that means, and Amazon sells the same things Costco sells. So Costco's doing something right.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  17. Yeah, politics Well, you know, that was one of the things I tried to do in my book also to look at who's winning, and that's what I focused on. Who's losing? I wasn't as interested in. And so the retailers, I think, are doing a great job. Of course, Amazon. I'm really impressed with Walmart. Costco is a very interesting retail.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  18. Very recently, she won the Democratic primary for that seat, which I think was held by a Republican, but so hopefully she can still win it. And she's 77. And I got to say she's an amazing role model. She really taught me what it was like to be a leader, taught me how to face adversity to figure out what you should do. She taught me the importance of low-hanging fruit, visible signs, and long-term strategy. She was really amazing.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  19. Yeah, she was the Secretary of Health and Human Services under Clinton for the longest serving health and human services. And then she was also had a big career in academia. She was president of Hunter College, and she was president at University of Miami. More recently, she headed the Clinton Foundation when Hillary was running, which was kind of an interesting place to be. I would imagine. And now she went back to Miami and she just won the Democratic seat for Congress, for a council. Yeah.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  20. Well, you know, if you're a doctoral student and you get a PhD, which I did a lot of times, your dissertation advisor is a big mentor. And I got my PhD at Columbia. And my dissertation advisor was Don Morrison, who just recently retired. And he calls himself a full-service advisor. He advised everything in my academic life and my personal life. So he made a really big difference. More recently, I left Wharton for a few years to go down to University of Miami to be the dean of the business school there. And when I was there, Donna Shala was the president of the University of Miami.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  21. On the With that particular bridge. It's funny. I can be a passenger in a car driving over a bridge. I just don't want to drive it myself. I don't trust myself, even though I don't know what I could do. I'm afraid I'd freak out. But, you know, if you have to have that fear now, I didn't have it when I was younger, I haven't now. If you have to have it now in the land of Uber and Driverless cars. So how easy? I'm okay. It's not as bad as it could be.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  22. It seemed crazy to me to drive home for a bridge. I don't know. I can walk over bridges, but I don't like to drive over bridges. And as a result, it's limited how much I drive now. Really? That's not a...

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  23. Well, I don't know if my students, but one of the things that's happened recently to me is that I can't drive over bridges anymore. Why not? I'm scared of driving over bridges.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  24. Yeah, you can figure out why this item is not selling. Maybe it's not sized right. Maybe it's too much money for this. You know, you can figure out reasons why people are choosing not to sell. I mean, so one of the things, if things aren't making it into the dressing room, maybe they don't look good on the rack. Maybe they're in the wrong place in the store. All of a sudden you can fine-tune your merchandise to be what customers want. You're getting customer input right there at the store, which they didn't used to get.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  25. Mild, so to speak, of the cart. Well, in the physical store, if you went to the trouble of bringing something into the dressing room, you must have liked it. And then if you didn't buy it, why did you not buy it? What was wrong with those items? That data was never collected in a physical store. Now that we're taking this into the dressing room, I can see what you bring into the dressing room and what you purchase or what you don't purchase. And that's very useful information.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  26. Now, the thing about that that's interesting is it makes perfect sense and apparently has increased sales. It's got to be expensive. It is expensive, but apparently the upsell has worked very well on that. But more importantly is collecting the data. Online, if you go online and you put something into your cart and you don't buy it, you get all these ads for the next two months, right? Because they figure if you went all the way through what's called the purchase fund.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  27. Mentioning Rebecca Minkoff, she does that in her own stories. If you go to the SoHo store, you'll see it, which is where all the items in the store are coated with RFID codes. And when you walk into the dressing room on the mirror in front of you, they show the items you're bringing into the dressing room. It's right there on the mirror. And then if you want a different size, you can push on the mirror and the salesperson. They'll just show up with. They'll also give you suggestions if you bring in a pencil black skirt. They'll say this blouse will go with it, this purse will go with it. All of that sitting. That makes perfect sense.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  28. Well, one of the things I think is interesting is how important in-store tech is. I think about, yeah, you know, like the beacons in there or the smart boards and the magic mirrors.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  29. Any sense. No, and that now that customer's pushing back, that's again what the millennials are doing. One of our young designers, Rebecca Minkoff, which is, she's considered a millennial designer, she was one of the ones on that New York fashion week saying, you know, I'm going to start showing during fashion week what people want to buy now. And that was considered revolutionary. Right. It makes.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  30. Ken, see what I mean? It's like that should have been obvious to people. But they looked at it from the product and operations side. I mean, obviously there was a logic to doing it, getting, you have to manufacture it, you have to get the supply, you have to do all these things. It took a long time to get the product to the store. But guess what? Zara figured out how to do it in a way that took a lot less time.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  31. Yeah, so if it's fall, I want to buy fall now. Where the luxury houses were teaching you to buy fall, you know, before it was falling.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  32. Well, I mean, Zara sometimes called fast fashion, but it's a higher a little bit higher price point fashion. But that is the idea. Instead of, like you said, waiting the 18 months for luxury to come in, let's get, people now want to buy in season. That's a very big difference.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  33. Well, Zara was one of the first ones to do it, and then they do a very good job, and they're doing very, very well. But again, this gets back to like, this shouldn't have been rocket science, that you should ask the customers what they actually like before you just load up on inventory in your store. You know, but that just didn't happen until recently.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  34. Well, that's the data, but also the operations. Like, don't order things. See what's selling and then order it rather than. And the other thing that Zara did, they also were customer focused. We're the design luxury houses or product focus. So the luxury housers say, I'm the designer. This is what you like. What Zara says is, I'm going to look and see what the customer's like. And then I'm going to put what the fashionista's like in my store. So they have their sales associates at the end of every single day report back to headquarters what they've observed their customers are coming and wearing what they've observed their customers ask for and they use that customer data in addition to what the fashion houses are doing to try to better predict what customers are going to like or what they're not going to like

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  35. Yeah I agree, but that's what you're seeing with Macy's and stuff. When you talk about their new strategy they're announcing, one of them is much more meticulous forecasting of product assortment, having a better idea before you put excess inventory in the store.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  36. 18 months in advance typically. Crazy. So now that's changed. And this is another thing. This is not just Amazon has done that. Zara has changed this a lot. Zara's changed. They do a lot of turnovers in the store. They don't have this 18-month lead time or anything like that. And there's all this pressure. The part of the disruption is to give customers a better experience. So they have to be better at forecasting demand. They have to get the right product in the store so they don't have leftover inventory at the end because the process you described, you could see, you know, long term it's not going to work. People understand it. You know, everybody knows that happens. Why wouldn't they wait for the discount price?

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  37. Because you don't know what the consumers are going to like or not like, so you overorder certain things, and then you've got extra inventory that you've got a discount at the end of the season.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  38. Yeah, when that started, it made sense, you know, because you would target people at different willingness to pay. And so you get the people who are willing to pay at the beginning of the season to pay high, people who couldn't afford it or didn't want to would wait till the end of season and pay low. Unfortunately, people got addicted to those price promotions. They could predict those price promotion. And consequently, they were very reluctant to pay full price. And it got really bad around holiday seasons where it's big, you know, that's the big bonanza for retail, where it said if you waited long enough, you know, you're going to get the discount or Black Friday and all these other things people got addicted to the discounts. And that was very bad. It undermined the value of the brand. It is what hurt Michael Kores for a while. Michael Kors has pulled back on that so they can be seen as more luxury now. And part of the reason for it was the price sensitivity or price discrimination. Another reason was if they didn't forecast demand correctly. And it's hard to forecast demand for a fashion product.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  39. But that was what Coach did wrong. See, what your wife said is the right strategy. You have to keep it separate. Because why would anybody pay full price if you get the same product in an outlet? But Coach had some of the same product in their outlets. And what that did was undermine the value of the brand. If you're paying a high price and someone else got the same product, the exact same product at an outlet price, why would you want to pay the higher price? And Coach was hurt by that.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  40. But, you know, Coach that you mentioned, that was an American brand, but they're now starting to copy the European strategy. So they changed their name to the holding company Tapestry. And now they have a house of brand. So they have Coach, they have Stuart Weitzman, they have Kate Spade all under the house tapestry. And so they're moving and they're trying to take back too much outlet selling and trying to resurrect the grandeur that Coach used to have. And they're doing well. Their stock prices went up. Their sales are going up. They're doing very well with that strategy.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  41. Europe. So the traditional luxury brands are French and Italian. That's where you made in Italy Gucci's off the charts right now. Gucci's crazy doing crazy well. Louis Vuitton Hermes, those are French brands. Some of those. But Ralph Lorraine had this, what I call a branded house strategy, which is what you described. Under the same brand name from purple label or collection all the way down to Outlet, you could tell it was all Ralph or Polo. Whereas the luxury houses in Europe are House of Brands. And each house is a special brand. They don't have one brand name over all of their different offerings.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  42. Yeah, right. So now they still sell some silver, but it's a very small part of it. And they've really tried to re-up the luxury vision of Tiffany's, make it, you know, what Audrey Hepburn saw in it. Nothing can go bad in a Tiffany store.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  43. I really buy into that. The That the public doesn't get to see. Experience, of course. Tiffany's is an interesting example. They're coming back up. Tiffany, some people say, is the only true American luxury brand. It started in, I think, 1857 or something. The same year Hermes started, so it's been around for long enough. Luxury really has to have history. It has to have legacy to be a real luxury brand. And Tiffany's really the only American brand that can claim that credit. But they kind of lost their way maybe 30 years ago when they had too much silver in their store and they had all these young adolescent teenage girls coming into the store right next to these very rich people buying diamonds in private rooms. And that was not a good juxtaposition. Yeah. That's what should have been.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  44. A personal shopper or something like that. And so they've been trying to do things. And then when they ship you the product, the packaging is beautiful, you know, some of the luxury comes in the packaging that goes around the product.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  45. It is ongoing, but I think that Amazon has now acknowledged that they're going to have to control their counterfeit issue or they're not going to get the luxury brands to come on. You know, we're talking about luxury. It was interesting, this notion that accessibility makes luxury less desirable because, as you said, scarcity or exclusivity is what luxury is. And yet, people still want to buy online. Now, online makes it more accessible. So that's another paradox. Luxury had to figure out how can I have the luxury experience and still have the convenience of online. And they've been doing all sorts of experimenting with how to keep the convenience of online, but keep the exclusivity of luxury. So, for example, they'll have specialized buyers or personalized buyers where you can talk to them online and do the business online, but it's still a one-to-one luxury experience.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  46. So, in that case, the counterfeit and the real product was actually the product was the same, the brand, it just wasn't authorized. It didn't have the paperwork, the certificates, and things like that.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  47. She's very excited about it. But that's a real big problem. It's a big problem, particularly in China, where a lot of these things are manufactured. And some of the luxury products would be the branded products would be done during the day. And after hours on the same manufacturing, some of the counterfeits would be done.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  48. Well, they do both. Some of them are marketplaces, some of them have their own inventory, some of them concatenate a lot of little stores on their platform. There are different models there. But luxury is a really interesting business. There's catches on it. One of them is this whole counterfeit market. Oh, for sure.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  49. Amount versus Japan and the UK. Yeah, right. Substantial. So even if you didn't see all this change, those stores were going to have to go out of business. We had too many. And if you look at the malls that are going out of business, they're called the B&C malls. They were terrible malls. You know, when the Macy closed down as the destination of those, all those stores in the middle had to go out. There was no traffic. So that's what's going down. But just as those malls are going down, some exciting, beautiful new flagship malls are being built. Look what's happening in New York City. There's some beautiful stores being built that should attract a lot of traffic.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source

  50. Think Do anything to Yeah, no, I think that that's what's happened. Like it got stale. So we have way too many stores in the US. It's called overstored. I like a substantial.

    2018-10-17 · Masters in Business · Barbara Kahn Discusses the Retail Revolution (Podcast) · IDENTIFIED FROM THE TRANSCRIPT · source