SMITH BRAIN TRUST – The coronavirus pandemic has changed so much about the way we live and work. And some of those changes are here to stay. Maryland Smith experts explore a few of them.
Jie Zhang is a Professor of Marketing and the Harvey Sanders Fellow of Retail Management at the Robert H. Smith School of Business at the University of Maryland. She received her Ph.D. in marketing from the Kellogg School of Management at NorthwesternUniversity. She was a faculty member at the Ross School of Business at the University of Michigan prior to joining the Smith School. Her general research interest is to apply advanced econometric and statistical models to study consumer purchase behaviors and retail strategies.
Open discussion with participants about the challenges and issues they face in the retail industry.
Facilitated by: Jie Zhang
Utilizing Data Analytics to Build A Winning Retail Business
This session will cover retail performance metrics and how to utilize them to diagnose problems and improve retail decisions. It will focus on those performance metrics that can be implemented using a retailer's existing inventory management and bookkeeping infrastructure (so that they can be easily adopted by SMR's). We will also discuss more advanced metrics and frameworks that have been utilized by sophisticated retail operations and the additional data/resources required.
Retail industry trends and implications for small and Mid-sized Retailers (SMR)
This session will focus on 1) the "big picture" and major trends of the industry, more or less organized by different retail sectors; 2) the implications for SMR's; 3) discuss strategies to address these challenges from the perspective of SMR's.
Facilitated by: Jie Zhang
SMITH BRAIN TRUST – Lockdowns, high-profile bankruptcies, surplus stock spilling out of backrooms – the pandemic has rattled the already struggling retail sector.
SMITH BRAIN TRUST – Few sectors of the economy have been as resilient as retail during the coronavirus pandemic.
The latest indicators show retail sales rising for a third-straight month in July, climbing at a strong but slower pace, even amid high unemployment, the continued spread of the deadly pandemic and decisions across the country to cancel in-person schooling.
SMITH BRAIN TRUST – Every July and August, parents across the country prepare their school-age kids with some traditional back-to-school goods: gleaming new sneakers, a fresh backpack, binders, paper and packs of bright yellow pencils. Not so much this year.
SMITH BRAIN TRUST – The expansive parking lots are empty, and those wide glass doors are shut tight and locked. But what will happen to the shopping mall when the coronavirus crisis eases, when the stay-at-home orders are lifted and non-essential businesses are able to welcome customers back?
SMITH BRAIN TRUST – Holiday shopping has always required some imagination and a bit of guesswork. But these days, retailers are turning to augmented reality to help consumers eliminate some of that guesswork.
SMITH BRAIN TRUST – With avocado tartines and shrimp poke bowls, Crate and Barrel’s new upscale restaurant probably will make you feel hungry. The home-furnishings retailer is hoping it will also make you want to shop.