How can retailers make shopping more convenient than ever before for their customers? Stephan Schambach, founder and CEO of NewStore, has some ideas. Listen to today’s episode to hear Stephan talk about the kinds of problems NewStore solves for retailers, why stores can do without traditional point of sale systems, and the trends that Stephan is seeing in retail today.
Topics Discussed in Today’s Episode:
✔ Stephan’s background
✔ The differences between locations that do and don’t have NewStore
✔ How Stephan got excited about NewStore and the problems it solves
✔ Working without a traditional point of sale system
✔ The biggest changes Stephan has seen in customer behavior pre-COVID
✔ The biggest changes Stephan has seen in customer behavior during COVID
✔ Whether the trends Stephan is seeing are temporary or permanent
✔ Whether we’re going to see a trend of smaller stores and fewer big department stores
✔ The best in-store experiences Stephan has seen
✔ Stephan’s favorite places to shop
✔ Key takeaways for retailers who are considering their strategies
✔ Technologies that were adopted faster than Stephan expected
✔ Fun recommendations for Boston
Resources:
QUOTES:
“The clever thing about the eCommerce piece is that the item doesn’t necessarily have to come from the website.”
“I think we will basically, in particular for vertically integrated brands, there will be no cash, there will be no terminals, no printers required.”
“I think cash is basically outdated.”