Chen: Burden Is on Retail to Transform for Customers

The video discusses the future of bricks and mortar retail in the face of declining mall traffic and the rise of online shopping, particularly Amazon. It highlights the need for physical stores to transform by enhancing customer experiences and focusing on product curation. The discussion also covers the importance of product design in the competitive fast fashion market, with examples like Lululemon's innovative technology. Finally, it addresses Amazon's distribution challenges and the potential of a 'bricks and clicks' strategy.

What is one of the main challenges faced by traditional brick-and-mortar stores?

• Declining mall traffic

• Increasing rent costs

• Lack of online presence

• Limited product variety

What is a key strategy for department stores to attract customers?

• Lowering prices significantly

• Expanding store locations

• Creating exciting in-store experiences

• Offering free home delivery

Why is it important for stores to manage their inventory effectively?

• To increase product variety

• To meet customer demands promptly

• To minimize storage costs

• To reduce employee workload

What is a significant factor in the success of fast fashion brands?

• High-quality materials

• Inexpensive alternatives

• Exclusive designer collaborations

• Limited edition releases

What is the 'bricks and clicks' model in retail?

• A focus on physical store expansion

• Combining online and physical store strategies

• Reducing the number of physical stores

• Offering only online shopping options