New Balance’s Post

Having travelled to New York, Las Vegas, Paris, Shanghai, Singapore, London, Madrid. Can you guess what the global Top 3 Retail trends are? Here are 4 to 10 4. Retail Media Expansion: 5. Tech-Enabled Workforce: 6. Data-Driven Decision Making: 7. Customer Experience Enhancement: 8. Evolving Consumer Expectations: 9. Global Retail Expansion: 10. Leadership strategies for fostering innovation and growth.

☕ Starbucks has "dropped" its global CMO role with the promotion of Brady Brewer to International CEO. There is, of course, more to this than meets the eye. While the company will not replace the global chief marketing position most recently occupied by Brewer, a leadership restructure will see regional CEO's take charge of the business in each market, working alongside regional marketers.  🌎 The aim is to realign Starbucks to balance "clear geographical focus with investing in functional capabilities to scale around the world, generating productivity and reinvigorating our employee culture". 📰 While many comments around this move are focussed on the demise of the CMO, here at Diplomat we see how this is a move by Starbucks to “think global, act local”. The company has clearly identified that its high growth regions, which are away from it's "home market", are going to be in markets in APAC where countries are far less homogenous. This decentralisation to regional marketing is a step to accelerate growth and ensure local relevance over a US-centric strategy. 🤳 Diplomat has expertise in helping brands navigate this complex area. What is right for Starbucks may not be right for your brand. Get in touch today to see how our team of global experts can help you with your international expansion #internationalmarketing #internationalexpansion #businessexpansion #globalmarketing

Is your brand ready to go global? International expansion offers incredible opportunities but requires strategic planning and execution. From entering new markets to creating a local physical presence, brands must choose the right approach to ensure success. In our latest blog, we explore the three key options for physical retail expansion: concession stores, pop-ups, and full-scale flagship stores. Discover which strategy best fits your brand’s goals, resources, and market maturity. Whether you’re testing new waters or ready to dive in, this guide will help you navigate your global growth journey! Read the full blog here: https://lnkd.in/etKVeXrH We are also hosting a webinar on international expansion with three industry leaders speaking on their journeys, sign up to reserve your space: https://lnkd.in/e2G2-dnU #InternationalExpansion #RetailStrategy #GlobalGrowth #PhysicalStores #BusinessExpansion

The H&M store's growth in China has increased by 10X after implementing only this one strategy (per CBS Research) They just introduced a picture-clicking setup outside the changing room. Problem: H&M, the global fashion retailer, faced a unique challenge in China. Customers there spent significantly more time in the changing rooms compared to other countries. The reason: 👉 Asian cultural norms dictate seeking approval from friends and family before making purchases. 👉 This behaviour led to long queues and frustrated customers, hindering H&M's growth in the Chinese market. 👉 After that, H&M's team recognized this cultural nuance and took an innovative approach. Solution: They designed more spacious changing rooms and created dedicated areas outside for customers to click pictures and share them with their loved ones for feedback. Result: This simple yet effective solution resonated with Chinese consumers. By catering to their cultural preferences, H&M experienced a remarkable 10x growth in their Chinese stores. H&M's success in China demonstrates the importance of understanding cultural differences and adapting business strategies accordingly. I find this case study highlighting the power of empathy and cultural sensitivity in the global marketplace. 👉 Companies which understand customers' unique needs and behaviours can turn challenges into opportunities for success. 👉 In today's interconnected world, businesses embracing diversity and adapting to local cultures will have a significant competitive edge. H&M's changing room strategy in China shows the importance of being a culturally responsive organisation. #consumerbehavior #growth #performancemarketing #culture #retail #strategy #success

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What a fantastic day at the Gamma 3 Forum (G3) in Mexico! It was an incredible event with the presence of renowned leaders from the luxury retail industry. We deeply appreciate their participation and valuable contributions to the insightful discussions about important topics in our industry.  Here are the highlights from our Forum: 📊 Economy & Consumer Trends - Presented by Prof. Eugenio Gómez Alatorre from Univ Panamericana - Positive outlook for Mexico over the next three years due to nearshoring and trading ties with the US. - Despite elevated inflation, Mexico maintains high import/export flexibility and robust consumption rate. - Insights on upcoming election strategies and the outlook for growth and investment. Regardless of who wins the elections, the economy is not expected to be significantly affected. 📈 Operating in Mexico: Changes Ahead - Presented by Fernando Castillo Aguila from Bakertilly - Overview of Mexico's Fiscalization Master Plan to increase revenue margins. - Future use of AI for tax auditing and proactive measures for companies to mitigate attention and audits. 🛍️ Leisure and Resort Retail - Presented by Rene Riedi from Int. Association of Airport and Duty-Free Stores - Evolution of travel retail in cruise ships and revenue growth projections. - Impact of new ship introductions on passenger capacity and expected growth by 2027. 🏝️ New Projects in the Region - Insights on luxury retail in the Cayman Islands and the upcoming Camana Bay 6-star hotel. 🚀 WOW Concept - Presented by Dimas Gimeno Álvarez, CEO/Founder - Innovative retail strategies focusing on the curation of emerging, international, and digital brands. - WOW Concept's branching out in Latin America & Luxury Brands expansion in the Region. 🏬 Palacio de Hierro - Presented by Werner Hirschi, Chief Customer Officer - Growth strategies of Palacio de Hierro in Mexico with a focus on phygital experiences. 🎓 Growth Through Talent and Education - Presented by Angeles De Tomasi from Morgan Philips and Juan Ignacio Silva Gasparoli, Global Executive - Strategies for talent acquisition and retention in luxury-oriented segments. - Training modules and salary band construction for key positions. Thank you again to all the presenters and attendees for showcasing their valuable insights and forward-thinking discussions that took place. And for your continued engagement and contributions to our community. 🌟 If you want to be part of the next G3 Forum, visit www.gamma3council.com See you at G3 FORUM MIAMI in October 2024! 🇺🇲 #miami #mexico #2024 #G3

Regional vs. Global Marketing Strategies (Which one is best for your brand) Hey everyone, Esther here! I recently came across an interesting shift in Starbucks's marketing strategy that got me thinking about the broader implications for businesses worldwide. Starbucks is moving from a global to a regional marketing model, and while it might seem like a smart move to tailor efforts locally, it comes with significant challenges. Here's what you must absolutely take into consideration: - Inefficiency and Misaligned Competition: Regional teams often duplicate efforts, leading to wasted resources and inconsistent execution. - Inconsistent Brand Messaging: Maintaining a unified brand experience becomes difficult with regional CMOs adding their personal spins. - Fragmented Knowledge & Expertise: Decentralizing teams can create knowledge silos, impeding learning and innovation. At Bleu Marketing Studios Pte Ltd, we believe in the power of a cohesive strategy that balances local nuances with a unified global vision. This approach ensures consistency, efficiency, and the ability to leverage centralized knowledge for maximum impact. For brands looking to expand in Singapore or explore new markets, let's chat about how to navigate these complexities and create memorable brand experiences that resonate globally and locally. Starbucks Coffee Hong Kong --- #marketingstrategy #brandmessaging #globalmarketing #experientialmarketing #BleuMarketingStudios

I have always enjoyed a bit of retail therapy and lately, I've embraced online shopping for its convenience – much to the pain of my 'significant other'! However, I still find that nothing beats the experience of visiting a store and engaging with a salesperson, especially when it's exceptional! I'm also finding myself increasingly mindful of ethical purchasing and making decisions that minimise climate impact. When I'm in a store, I tend to wonder what is it about this salesperson or retail brand that makes the experience exceptional or lousy!   Retail Leaders are focusing on customer experience and sustainability at NRF Asia in Singapore this week and we can look forward to hearing some great conversations about the future of retail. Despite tough trading conditions, the future does look bright with innovations like AI and VR and a focus on reducing environmental impact while still enhancing human interactions.   UNIQLO's Global CIO said it best: With more people becoming digital natives, the human touch at the in-store experience becomes increasingly essential.   So, how do we make sure our teams are ready to make those real connections?  • Prioritise skills transformation • Identify technology AND human skills gaps • Provide the right learning at the right time in the most engaging way • Cultivate a culture of continuous learning    💡In this changing and increasingly technology driven environment, the ability to learn, adapt and create genuine connection is our greatest asset. #RetailTransformation #FutureSkills #ContinuousLearning #DigitalInnovation #nrfapac

2011: I was building a sourcing office from scratch. 2023: I was featured by the Brands & Sourcing Leaders Association. Times have definitely changed but the feeling remains. It is an honour to be associated with the BSL. This is an organisation that I deeply respect. Some of the questions that they asked got me reflecting on my career path. Things I haven’t shared with you before. Such as: Building Falabella presence from the ground up as the first employee and Country Manager was that 1 opportunity that changed everything. Not only was it a thrilling experience but it was an equally difficult challenge. That’s how I could meet my incredible mentors and colleagues who've supported me every step of the way. Their belief in me was instrumental in establishing my own path. In the early phase, I have navigated all kinds of complexities in the industry over the past two decades. Looking back, here are some key lessons I wish to give anyone who looks up to me: 👉 Your efforts will matter if they’re consistent: Daily dedication truly pays off, leading to unexpected milestones. 👉 Make relationships your powerful ally: Building strong professional and personal connections fosters growth and achievement. 👉 Adaptability is key in any business: Staying on top of trends, understanding global dynamics, and acquiring diverse skills allow you to navigate industry shifts. Thank you to everyone who has been a part of this incredible journey. Here's to moving ahead with renewed passion towards exciting possibilities in the future! P.s. What’s your life-lesson for me? Share with me in the comments below.