STORES Magazine - January 2018 - 8

n

PRESIDENT'S PAGE

The Future of Retail
W

hen retailers from
around the world
gather in New York this
month for NRF 2018: Retail's
Big Show, most of the focus
will be on the big names
of our industry - people
like Walmart President and
CEO Doug McMillon as he
is honored by NRF as "The
Visionary," designer Tommy
Hilfiger, Macy's Executive
Chairman Terry Lundgren and
Chobani founder Hamdi Ulukaya, to name
just a few.
But there are two groups of
lesser-known individuals who also should
be receiving attention, because they are
the future of retail.
One group comprises eight teams of
semi-finalists in the NRF Foundation's
2018 Student Challenge, a business case
competition for NRF Student Association
members to demonstrate their business
acumen to retail industry executives.
Sponsored by KPMG, the Student
Challenge is intended to bring classroom
learning into a real-life business scenario.
Each team of two to four students
selected one of three sponsors - 3M,
Staples or CVS - and then developed a
25-page written pitch and a 90-second
video pitch to convince Rachel Shechtman,
founder and CEO of New York retailer
STORY, why their proposal should
come to life. Each proposal involves the
selection of merchandise, a marketing
approach, a social media campaign and
marketing events.
Following preliminary judging, the final
three teams will make their pitches in
person to a team of retail executives in
New York; the top team will be named
at the NRF Gala on January 14. Members
of the top team will receive $5,000 each,
the second-place team $2,500 each and
third-place $1,500 each.

8

STORES January 2018

The second group includes
25 semi-finalists for the NRF
Foundation's Next Generation
Scholarship program, which
provides financial support
to college students pursuing
careers in retail or majors
relevant to the industry.
The students were required
to submit an essay, video,
letters of recommendation,
resume and school transcript.
Retail executives will choose
four students to receive a $10,000
scholarship each and one to receive a
$25,000 scholarship. As with the Student
Challenge, the recipients will be announced
at the Gala.
Both groups of young people are
the industry's brightest rising stars. As
Millennials and members of Generation
Z, they grew up shopping on computers
and smartphones. For them, the
transformation our industry is experiencing
isn't a challenge for the future - it's a
way of life.
The retail industry takes pride in
reinventing itself. How better than
through young people who don't carry
the baggage of yesterday's ideas? Instead
of "We've always done it that way," they
ask, "How can we do it better?"
Retail isn't going anywhere. It is
changing, and a decade from now the
industry might bear little resemblance to
today. But retail will still be here; with the
help of bright young minds like these,
we can be sure the next generation is
here to help.

STORES is published by the
National Retail Federation Inc.
1101 New York Avenue, NW
Suite 1200
Washington, D.C. 20005.
202/783-7971
FAX 202/737-2849
CHAIRMAN OF THE BOARD
Terry Lundgren, Executive Chairman,
Macy's Inc.
VICE CHAIR
Karen Katz, President and CEO,
Neiman Marcus Group
PRESIDENT & CEO
Matthew R. Shay
SENIOR VICE PRESIDENTS
Cristina Ceresoli, Retail Strategy
Ellen Davis, NRF Foundation
Stephanie Martz,
General Counsel
David French,
Government Relations
Carleen C. Kohut, COO
Lisa Marzetti, Member Development
& Partnerships
Susan Newman, Conferences
Bill Thorne, Communications
& Public Affairs

EXECUTIVE DIRECTOR
David French 202/626-8112

VICE PRESIDENT,
MEMBER ENGAGEMENT
Artemis Berry 202/626-8118

1101 New York Avenue, NW
Suite 1200
Washington, D.C. 20005
All articles published in this magazine
represent solely the individual opinions of
the writers, and not necessarily those of the
National Retail Federation.

STORES.ORG


http://www.STORES.ORG

Table of Contents for the Digital Edition of STORES Magazine - January 2018

Editor’s Page
President’s Page
Retail Politics
NRF News
TRENDS
Retail People
Disruption Is the New Normal in Retail
20 Ideas Worth Stealing
Drug Store Cowboy
C2W
TECHNOLOGY
WORKFORCE MANAGEMENT
OMNICHANNEL
AI
MARKETING
FINANCE
BUSINESS OPERATIONS
STARTUP SPOTLIGHT
SECURITY
HUMAN RESOURCES
POV
Communities
End Cap
STORES Magazine - January 2018 - intro
STORES Magazine - January 2018 - cover1
STORES Magazine - January 2018 - cover2
STORES Magazine - January 2018 - 3
STORES Magazine - January 2018 - 4
STORES Magazine - January 2018 - 5
STORES Magazine - January 2018 - Editor’s Page
STORES Magazine - January 2018 - 7
STORES Magazine - January 2018 - President’s Page
STORES Magazine - January 2018 - 9
STORES Magazine - January 2018 - 10
STORES Magazine - January 2018 - 11
STORES Magazine - January 2018 - Retail Politics
STORES Magazine - January 2018 - NRF News
STORES Magazine - January 2018 - TRENDS
STORES Magazine - January 2018 - 15
STORES Magazine - January 2018 - 16
STORES Magazine - January 2018 - 17
STORES Magazine - January 2018 - 18
STORES Magazine - January 2018 - 19
STORES Magazine - January 2018 - Retail People
STORES Magazine - January 2018 - 21
STORES Magazine - January 2018 - Disruption Is the New Normal in Retail
STORES Magazine - January 2018 - 23
STORES Magazine - January 2018 - 24
STORES Magazine - January 2018 - 25
STORES Magazine - January 2018 - 20 Ideas Worth Stealing
STORES Magazine - January 2018 - 27
STORES Magazine - January 2018 - 28
STORES Magazine - January 2018 - 29
STORES Magazine - January 2018 - 30
STORES Magazine - January 2018 - 31
STORES Magazine - January 2018 - 32
STORES Magazine - January 2018 - 33
STORES Magazine - January 2018 - 34
STORES Magazine - January 2018 - 35
STORES Magazine - January 2018 - Drug Store Cowboy
STORES Magazine - January 2018 - 37
STORES Magazine - January 2018 - 38
STORES Magazine - January 2018 - 39
STORES Magazine - January 2018 - C2W
STORES Magazine - January 2018 - TECHNOLOGY
STORES Magazine - January 2018 - 42
STORES Magazine - January 2018 - 43
STORES Magazine - January 2018 - WORKFORCE MANAGEMENT
STORES Magazine - January 2018 - 45
STORES Magazine - January 2018 - OMNICHANNEL
STORES Magazine - January 2018 - 47
STORES Magazine - January 2018 - AI
STORES Magazine - January 2018 - 49
STORES Magazine - January 2018 - MARKETING
STORES Magazine - January 2018 - 51
STORES Magazine - January 2018 - FINANCE
STORES Magazine - January 2018 - 53
STORES Magazine - January 2018 - BUSINESS OPERATIONS
STORES Magazine - January 2018 - 55
STORES Magazine - January 2018 - STARTUP SPOTLIGHT
STORES Magazine - January 2018 - 57
STORES Magazine - January 2018 - SECURITY
STORES Magazine - January 2018 - 59
STORES Magazine - January 2018 - 60
STORES Magazine - January 2018 - HUMAN RESOURCES
STORES Magazine - January 2018 - 62
STORES Magazine - January 2018 - 63
STORES Magazine - January 2018 - POV
STORES Magazine - January 2018 - Communities
STORES Magazine - January 2018 - End Cap
STORES Magazine - January 2018 - cover3
STORES Magazine - January 2018 - cover4
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