Communications is Everywhere: The Robin Report Webinar Series-Holiday 2020

In my retail buying and planning class, I was presented with The Robin Report Webinar Series- Holiday 2020 with Dick Johnson, Jennifer Davis and Steve Sadove which was moderated by my professor, Shelley Kohan. Jennifer Davis is the Managing Director and Head of Retail Investment Banking at Goldman Sachs, Dick Johnson is the CEO of Footlocker and Steve Sadove was the former Chairman and CEO of Saks Fifth Avenue. I was able to listen in on a discussion of where the retail industry stands currently with the political climate and COVID-19 and how these events will affect holiday spending.

One key takeaway from the webinar was that the election won’t influence consumer consumption, however the speakers claimed that the stimulus will affect retailers because it depends on how much money is allotted to companies, especially big box and “main street” businesses. I found this interesting because I thought that depending on whoever is elected president, they may have different ideas of what regulations would be for imports and exports. Going off of the idea of boutiques, or “main street,” retailers receiving a certain stimulus check, they’re more at risk of going out of business due to COVID-19. From a public relations standpoint, a way for these boutiques to avoid shutting their doors is to improve their social media presence and website availability. During all this time of not being in store, small retailers have the opportunity to figure out a way to have an online shopping feature, or more personal experiences like personal shopping via Zoom or FaceTime. Additionally, promoting your brand on social media is imperative in keeping customers up to date.

Another point that was discussed was the emergence of technology and its expanding abilities, specifically with new technology for analytical investments and data investments. This delves into the idea of analyzing consumer data to make the experience more personal for the customer. This also brought up the question of if Buy Online, Pick Up in Store will be popular in another five years due to this option not being very personal, and rather a task during the day. Of course data analytics is a large aspect of public relations, and it’s important that retailers take advantage of the data analytic tools to find what consumers respond most to,

especially when improving or introducing a new option to customers. This feedback allows for the retailers to promote their brand in different ways to appeal to a larger audience and market.

Something that surprised me from the webinar is that high-income families will be spending more on clothes because they aren’t spending money on vacations. This information follows the point of how holiday spending will increase by 1% according to Goldman Sachs. From a public relations attitude, retailers will have to promote their brands from a more affordable standpoint for the non high-income families. Of course, this also creates an opportunity for the retailers to work with wealthier customers in order to direct their attention from vacation attire to stay-at-home attire, for instance.

Retail and public relations can often go hand-in-hand. Especially for promoting brands during the holiday season, public relations comes into full play in branding and creating relationships with customers. COVID-19 may create new opportunities for retailers to re-evaluate their brand and improve themselves for the better of the people and to provide sympathy and aid during these confusing times.

https://www.youtube.com/watch?list=WL&v=xigchmCVA8E