In their previous book, The New Rules of Retail, Dart and Lewis predicted nearly every defining characteristic of today’s marketplace. Here, they do the same for the next era, in which retailers will have to be ready for anything.
For one hundred years, retail was designed for the car—buildings and malls to travel to. Now it is designed for the mobile smart device—for consumers to travel with. In a world with an overabundance of material goods, consumer values and the drivers of retail success are being radically redefined. The smartphone has created a world of limitless expectation and logistical possibility: What will the retail experience look like in ten, twenty, or even fifty years—and how should all companies be preparing?
Industry experts Michael Dart and Robin Lewis identify the major trends in our economy that will shape the future of retail and determine who wins. Imagine aworld where entertainment, experience, or values matter more than the product. We are approaching the time in which distribution begins and ends with the consumer, mass markets give way to fragmented markets, and the necessity of entirely new business models is paramount. Amazon, Uber, and AirBnB are just the beginning; new technologies will continue to grow and uproot existing business models. And now, with the emergence of the technology-empowered young consumer culture, retailers will be forced to transform their offerings.
Michael Dart is a partner with A.T. Kearney in the Private Equity Practice and co-author of Retail’s Seismic Shift and The New Rules of Retail. He is an accomplished consultant and advisor with a wealth of experience leading major strategic transformations and due diligence studies for many of the largest private-equity funds and global retailers. He also has extensive experience leading the development and implementation of business strategies and growth efforts. Michael is based in A.T. Kearney’s San Francisco office. Michael has been recognized by Consulting magazine as one of its top 25 consultants. In additional to being frequently quoted in the press, he has spoken at major conferences and delivered keynote speeches at the Women’s Wear Daily Apparel & Retail CEO Summit in New York and the Global Department Store Summit in Paris and Beijing.
Before joining A.T. Kearney, Michael was a senior partner in the strategy and private equity practice at Kurt Salmon, where he led engagements for seven of the top 10 private equity funds and multiple retailers in the United States. He was also a partner with Bain & Company. Michael earned a bachelor’s degree in history and economics from Oxford University and an MBA in finance and strategic planning from the Wharton School of Business.
Michael is the coauthor of The New Rules of Retail and Retail's Seismic Shift with Robin Lewis.
“As retailers grapple through one of the most fraught times in the industry’s history, they would do well to heed the insights of retail luminaries Dart and Lewis." —Phil Wahba, senior writer, Fortune magazine
“The book’s title: Retail’s Seismic Shift says it all. And we are deep into it. Dart and Lewis nail the enormous challenges we must address to transform our businesses. They provide insights into today’s tech-empowered young consumer, and how they are driving retailers to respond accordingly, both online and in the store. In fact, the whole retail eco-system needs to change. This book connects the dots.” —Jeff Gennette, CEO, Macy’s
“A real eye opener and page turner—a must read.” —Mindy Grossman, CEO, Weight Watchers
“All retailers who want a sneak preview of what's to come in the world of retailing, both brick and mortar and the internet should read this book.” —Gerry Rittenberg, chairman, former CEO, Party City
“The term ‘retail apocalypse’ exaggerates the state of our industry. Retail’s Seismic Shift does not. It provides a clear picture of the technology era as the catalyst forcing the seismic transformation [and] adds the impact of a supply and demand imbalance, the fragmentation and polarization of society, and the enormous cultural and consumer shifts. Fortunately, Dart and Lewis give us a path forward to success!” —Jane Elfers, CEO, Children’s Place
"A must read for anyone leading a retail business today who expects to be in business tomorrow." —Mark A. Cohen, Director of Retail Studies and Adjunct Professor, Columbia Business School
“A smart and insightful look at the so-called retail apocalypse. This book goes beyond the rise of e-commerce to truly understand the macro and sociological forces driving the changes and ultimately what these changes say about where we are as a society.” —Lauren Hirsch (M&A / Retail correspondent) Reuters
“A terrific job of capturing the seismic changes taking place in the retail landscape. Dart and Lewis’s insights provide a framework for understanding who will be the winners and losers in the new world of retail.”—Steve Sadove, former Chairman and of CEO Saks Inc., and chairman of National Retail Federation