Episode Transcript
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(00:00):
Hello and welcome to five thingsFriday.
It's the summer edition. I should give myself some slack.
We're in the in the midst in thelast froze of the summer holiday
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with my fantastic Co host SimoneOliver from Need it for Tonight
and Dave Simone, how are you doing?
I'm good, I'm very happy as I woke up this morning and it was
very gloomy and now it's very sunny finally with.
Fantastic. Fine in London, it's ice cream
weather. It's ice cream with waggon
weather. And as you as you've done your
(00:43):
spin class already, you know. I have, I have, I've done my
spin class so I'm feeling pumped.
I'm ready to go. Fantastic.
Well, listen, well, let me startbecause I think, I think there's
two sides of retail right now and we don't want to sort of
ignore what's going on. And so for all of them, is it
eagle eyed? Is it eagle eyed?
What's the same? It is eagle eyed, right?
(01:05):
That's what. I was going.
Yeah. What about eagle eyed though, or
I don't know. Anyway, eagle eyed retail
followers out there, we know that there's been a whole string
of insolvency happening in the UK.
So I don't want to negate that. But why?
Because but there are, you know,4000 jobs at River Island, 2000
and a bit jobs at Claire's and Hobbycraft has just closed some
(01:29):
stores as much as there's like upbeat loads of.
New things happening. And hopefully, you know, the
people that are transitioning from River Island or Claire's
will be able to move into new jobs.
I think there's a lot of uncertainty and I don't want to
ignore that. I think I've been in that
position when, when I remember they closed the, the, the thing
that I was working in and I had to go and there was all that
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what am I going to do? How am I going to pay rent,
blah, blah, blah. So I don't want to, I don't want
to miss that. So just a quick update on that.
Claire's has filed a notice intention to specifically
appoint administrators basicallyadmitting things have gone
wrong. Administrators are coming in the
jobs as I mentioned 2150 jobs are at risk 300 and stores 306
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stores potentially going to be. Shut but.
Again, that's down to the and I don't know who the
administrators are that come in.River Island has secured High
Court approval earlier this weekfor restructuring, which in
principle saves leaves the 4000 jobs that I just mentioned.
But it's like a cloud that, you know, was hanging over those
folks heads. But it's still going to close 33
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stores and look to cut rents wherever it can.
And yeah, and as I said, Hobbycraft closing 9 stores.
So I think retail and hence why I think it's so important shows
like ours that provide commentary on what's going on
provide both, both elements because now we'll go into the
(02:54):
the sort of fun element of what's going on.
And I guess with that, so why don't you tell us what what's
top of mind for you this week? Yeah, I, I wanted to speak more
about star openings this week because last week it was a bit
doom and gloom and I was speaking about all of the, the,
the star closures. There's been a lot of buzz.
Last week there was space and K,which everybody was talking
(03:16):
about. They opened up the new flagship
on Oxford Street. And I have to say I haven't
managed to get down yet. I've had a lot of formal looking
on Instagram and I will be goingdown at some point.
So hold me to that. But yeah, looking at the
pictures, it's honesty. It's a bit like, I'm going to
say Willy Wonka meets high end. Yeah, Playground.
(03:37):
They had, what was it? They have, like, gumball
dispensers. They had, like, viral drops
suspending from the ceiling. A cool A space for product
discovery. I've got a someone video.
Then I. Think you can even it was these.
Quizzes as well where you can find your I guess your.
Your lip. Or or sand vibe.
(03:59):
It's very cool. Look at it and look, it looks
like a beauty festival, not a star, which I'm a huge, huge fan
of. I think they've really nailed
making the. Store a destination, you know,
something to experience rather than just shop and look at that.
Yeah. And what I also liked as well is
obviously this is, you know, they clearly want to appeal to
the the 20 fives, which I assumeis that I assume at the fastest
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growing audience they've. Invited and curious.
And careful, but they're not ignoring the older shoppers as
well. And they have these expertise
pods for customers who want educating, who want debt.
So yeah. I just.
Thought it was yeah stand out tome.
Really loved. It it just been acquired and I
should know this because I spokeabout it on my US show, but I
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can't remember. But Space NK have gone into they
have been acquired. It's I have to Google who
they've been acquired by, but they've been acquired.
So this is interesting. You know, they're taking this
thing, but it looks super fun. And ultimately this is the other
thing, Are we going to see Superdrug and Boots now in
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trouble? I mean, Boots is an institution,
right? Because people go there for all
of their healthcare, pharmacy. But in the Avutin specifically,
beauty is such a fun thing. Sephora has done such a great
job. Are we going to see more change
in the physical side of beauty? They're frowning the broad
cornet now. Yeah, really, really treating to
see. But yeah, I mean, to me, they've
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nailed it and I'll definitely beheading down.
Just so much fun. Really is just a really, really
great balance. And to shout out to Chantelle
Pang who is the UGC creator for this only thing.
I'm. Not going to take credit for her
work. Please go to her page on TikTok,
watch her, she does like a weekly.
(05:48):
What's going on in London anyway?
And this was blessed. So OK, moving on swiftly.
We've got Currys and Corso Currys, the UK's.
Largest Omni channel tech retailer announced in a major
step in its AI strategy, partnering with retail
operations platform Corso, that they're rolled out Action AIA
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tool designed to turn the flood of store data into clear, high
value action. And here's how it works.
Action AI pulls sales, footfall,promotions, survey and customer
satisfaction data into one dashboard.
It then runs 1,000,000 of calculations across the store
network, flags the biggest opportunities and shows managers
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exactly where to act. Whether that's fixing an
underperforming category, replicating what's working in
top performing stores. It explains the root cause,
suggests the next steps and tracks the impact in real time
so every action is measurable. For Curry's, the potential
outcomes are significant. Faster decision making,
consistent, best practise sharing, sharper commercial
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performance, less time on admin and more time helping customers.
The tool has already been rolledout to 16 stores with a full UK
rollout in September, making making one of the most practical
and impactful uses of AI in British retail this year.
So that's Corso. Back.
Over to you. Simone, another fabulous store
opening. We use the word fabulous.
(07:15):
I have mine this week. Is Bershka's new start in
Manchester their new flagship? It's very, very cool.
Stand out thing for me was the. A Armour is which I will come
to. I think it's their largest store
that they've opened in the UK. It's in the in the Trafford
Centre and not quite the beauty festival we were just on about,
but instead it feels like a big tech playground.
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I think they have 3 zones, all of these distinct entrances,
sculptural checkouts. The biggie for me is the AR
mirrors. So customers can virtually try
on outfits via Snapchat, philtres, scan QR code and use
because app and then share theirlooks.
Interests share their looks instantly.
(08:00):
Which to me, if you're wanting to act, NZ.
Which they obviously do. So this to me, I mean, I, I was,
I'm probably not the right audience for this and I'm not
going to be using that. I don't use Snapchat, but but it
look, it signals to me that, youknow, bricks and mortars, they
need to breathe and a star, it'snot enough for a star to just
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exist now, you know, it has to do something, whether it's
digital or creative or shareablein this instance.
And I said it a lot. People are probably bored of
hearing me saying it, but I justthink when it comes to bricks
and mortars in the future of retail, I just think generic
isn't going to cut it I think. You know it's it's.
So much now about the experience, you know, whether
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it's a beauty playground or AR try ONS you know, I think
physical retail needs to be almost like a cultural theatre
and I just think, you know, whatwas the term that we.
Used. Last week it was that dead shelf
I can't realise. But it goes back to that oh God,
I've really got Friday brain today that shelf.
But if your. Star isn't a story, it's just
(09:04):
shelving. But yeah, I just think both
space and care and Bushka. Is a really?
A really nice example of how retail is evolving and just they
are setting the bar on on just how to do it.
And yeah, I mean, not chatting about obviously Claire's earlier
on, you know, sadly, nostalgia isn't enough to keep the lights
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on. You know, customers do expect
more. And especially when we're
looking to those future consumers, Gen Alpha, the bar's
only going to get higher. So I thought that that they both
done really well with that. I love that.
I think it's so funny. I always smile when I say they
must have obviously read my bookbecause I talk about social
validation and it's so on my mind How?
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What better way to create that social validation with your peer
group by being able to Snapchat your look?
And so I talk about that in the book in the sense that that's
really what people want and thatsort of existed in the Far East
with the different ways that they've incorporated that into
the shopping experience. But I think we were talking
about super drug or boots, whichI let both of them when I go in
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there to buy my vitamins, for example, in in boots, that's
looking essentially validate that I'm buying my vehemence.
But there aren't that many digital experiences unless you
go to the and. And so Boots has built their
beauty store in the Battersea Power Station.
Yeah, I've got a full. Beauty Focus.
Store there, but you know, I I think I think we're just going
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to reach headers really need to think at everything that you
said, Simone is absolutely spot on.
How do they maintain that relevance and also how do they
provide that social for their customers, their young customers
to sort of validate themselves with the brand?
And I think that's that's reallycool. 2 two more store openings
to just quickly come on to. So pop mark for all those.
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I think they've got avid followers because there's always
huge around the block when theirstores are opening, being their
largest store at Liverpool One Which?
I think. Speaks for itself.
They're going from strength to strength, opening up and down
the country and then yeah, that's it.
So great to see. I think for me having spoken to
a property asset manager how they were talking about how UK
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specifically retail is dead, I'mlaughing.
These new brands coming over andexpanding and opening and it
seems like the Arndale's, you know, going for like all of the
largest from what you're saying.E.
Largest burska and the final oneif you're in the mood for a bit
of a pop up party. Ticket numbers are limited, but
there's a Peter E pop up party which sounds what more could you
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want? You know, pizza and pizza and an
bop at the same time. Rave wheats are in a rave.
It's my kind of evening. They start carve up for the
spin, spin class Great. We're in central London.
There's a caller what's going on?
And the tickets are on Eventbrite.
If you're thinking how do I get tickets on Eventbrite, you can
get those tickets. So Simone, it's been a
(12:02):
whirlwind. I want to keep us to our 15
minute time frame that we work to.
Thank you so much. Thank you.
Around next week, I'm expecting you to say you're on holiday at
some point. Do you know what I am?
Which I'm very excited for. Next week.
I'm working from Italy. I'll be working from Italy.
Are you gonna, are you gonna be able to join us or should we
postpone for? I will be able to, I just might
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need to record a daily OK. All right.
Fantastic. Well, listen, we can work out
the, the, the, the details on that.
Thank you so much for joining me.
Apologies for the bit of the chaos.
And until next week, I'll look forward to speaking you too, in
whereabouts in Italy. I'm going to Sardinia.
Oh, lovely. Very nice.
Yeah. Very good.
Sardinia. We'll do Sardinia retail.
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Love it. Thank you.
Thanks, Alex. Bye.