STORES Convention Daily - 2018 Big Show Day 3 - 4

2018 TUESDAY

4

Doing Well by Doing Good

R

ecent disasters may have directed that included no less than 2,450 pounds
the spotlight to companies willing of turkey, 2,450 pounds of ham, 1,200
to help. But the disasters didn't pounds of mashed potatoes and 6,000
necessarily inspire the response; in many dinner rolls, among other items.
cases, businesses that "do good" have
McIngvale did it all because it was
been doing good all along.
simply the right thing to do, he said. But
Consider Houston-based Gallery along the way, he's discovered that "if
Furniture, where
you do good, you
owner Jim "Mattress
get good back."
"We can always make
Mack" McIngvale
"A thousand
money
back.
But
you
shot to national starpeople walk in
dom in the wake
the store every
can't save people's
of the Hurricane
day and say, 'We
lives but once."
Harvey flooding in
heard what you did
- Jim "Mattress Mack"
2017. McIngvale
during Hurricane
McIngvale, Gallery
opened his stores
Harvey. We don't
Furniture
to people needing
care what the price
shelter, and encouris. We're not going
aged anyone with a
anywhere else.'"
commercial license to use the company's
As thought-provoking as Mc24-foot cube trucks to rescue survivors.
Ingvale's story was, he was just one in a
"People said it was miraculous what trio of speakers for "Investing in Social
I did," he said. "To me, what was miracu- Responsibility: How Retailers are Dolous was that people thought that was a ing Well by Doing Good." Moderated
big deal. What was I going to do? My by Anne D'Innocenzio, national retail
people were drowning. We had a couple writer for The Associated Press, it also
of trucks totaled out, $60,000 apiece. We featured Dave Schneider, vice president
can always make that money back. But and chief marketing officer for Red Wing
you can't save people's lives but once." Shoe Company, and Marc Brown, senior
Later that fall, the company also hosted vice president of store operations with
a Thanksgiving feast for the community The Home Depot.

The Home Depot's Marc Brown shares the company's efforts to help homeless veterans.

Each spoke of the various ways their
companies found alignment with good
deeds. But they also talked about doing
these things without fanfare; when it's
standard operating procedure, it isn't a
gimmick.
"One of my mentors was W. Edwards Deming, and he said we all have
a responsibility for the well-being of the
community, so we've been doing that
since 1981, when we started," McIngvale

said. "That really hasn't changed. If anything, it's grown over the years as we've
seen more and more social problems in
Houston. We continue to do what we do
... I'm about half capitalist and half social
worker." The company has given away 30
households of furniture for people whose
lives have been dramatically affected by
fires, floods or other disasters every year
See "Doing Good" on page 30

Three Paths to Product Nirvana

I

n a brisk, high-speed panel discussion on Monday afternoon, the heads
of three small companies discussed
highly disparate approaches to the same
goal: product nirvana - defined as the
moment that occurs when the product, the
channel, the presentation and the perceived
value of the whole offering attain a kind
of perfection in the mind of the consumer.
Moderated by Corinne Ruff, editor of Retail
Dive, the panel consisted of Oliver Bogner,
founder and CEO of Brandable; Cricket
Lee, founder and CEO of Fitlogic; and
Kevan Wilson, general manager for retail
partnerships with b8ta.
The session began with a brief overview of each company, beginning with
Cricket Lee of Fitlogic. The company, Lee
said, was created to solve a problem that
bedevils the vast majority of female shoppers: Finding clothes that fit. The current
sizing system for women, she said, was
established in the early 1950s; it is not standard, and is based on physical proportions
that are actually found only in a relatively
small percentage of women shoppers. Her
solution is a three-part set of different overall body type characteristics, within each of
which any woman can derive a two-number
body code that precisely describes her body.
Lee's overall goal, and that of Fitlogic,
is to see this system adopted by all vendors
of women's apparel, so that shoppers can
focus on style and other aesthetic elements,
knowing that the garment - regardless
of maker - will fit. To demonstrate the
possibilities of her system, she created a
company called Little Black Pant, based

Kevan Wilson, general manager for retail partnerships, b8ta

on the ability to provide any woman of
any size with at least one pair of pants that
fit. "I've sold $10 million worth of black
pants," she said. "It works."
Brandable, based in Los Angeles, operates a little like a Hollywood television
studio, except that instead of matching
up actors, writers and producers to create
programs aimed at a certain demographic
(interest, enthusiasm, whatever it might
be), it matches up products with "influencers" - people with a large fan following
who are interested in promoting a certain
product to a certain demographic. There
are Brandable influencers for toys and
games, cosmetics and wellness, pets, food
and drink, and numerous other categories.

"We're talking about product nirvana
here," Bogner said, "and what is that? It's
the perfect product. The perfect product
today is a product that consumers love,
appeals to the masses, sells for a price
where everyone can make money, is a
value to the consumer, achieves merchant
objectives and so on. The great thing
about partnering with influencers is that
we're able to create products that people
are talking about, that trend online - and
part of what we do is create a demand for
those products."
How do influencers help achieve
product nirvana? Bogner uses the example
of Kanye West. "He's a musician, rapper,
icon, husband to Kim Kardashian, a topic of

conversation - he's a spectacle. He helped
save Adidas, right? Adidas gave him a seat
at the table, and together they created a
product that became Yeezy by Kanye West.
According to Forbes, Yeezy helped save
Adidas. Yeezy became product nirvana."
Last up was Kevan Wilson of b8ta,
which operates actual physical stores
- nine flagship stores and 70 boutiques
within Lowe's home improvement
stores. b8ta specializes in new Internet
of Things-related products, and has a
strict try-before-you-buy policy. The basic assumption is that, while people like
online shopping, they are reluctant to use
the online channel to buy new, somewhat
experimental products that they don't really know how to use. At a b8ta location a
consumer can get a thorough demonstration (by an associate who actually understands the product) and the chance to try
it for themselves. "We know there's going
to be showrooming," Wilson said. "We're
fine with that. We don't care."
To make this work, b8ta first of all
selects their associates carefully and
treats them well. Secondly, the company
has removed from its business model any
incentive to do other than what it says.
The manufacturer (b8ta calls them "makers") pays a flat monthly fee to have its
product displayed and demonstrated in
the store. If it sells, they get 100 percent
of the proceeds. The salespeople are not on
commission; if you play with something
for an hour and don't buy it, they make
just as much money as if you bought four
of them.



Table of Contents for the Digital Edition of STORES Convention Daily - 2018 Big Show Day 3

STORES Convention Daily - 2018 Big Show Day 3 - 1
STORES Convention Daily - 2018 Big Show Day 3 - 2
STORES Convention Daily - 2018 Big Show Day 3 - 3
STORES Convention Daily - 2018 Big Show Day 3 - 4
STORES Convention Daily - 2018 Big Show Day 3 - 5
STORES Convention Daily - 2018 Big Show Day 3 - 6
STORES Convention Daily - 2018 Big Show Day 3 - 7
STORES Convention Daily - 2018 Big Show Day 3 - 8
STORES Convention Daily - 2018 Big Show Day 3 - 9
STORES Convention Daily - 2018 Big Show Day 3 - 10
STORES Convention Daily - 2018 Big Show Day 3 - 11
STORES Convention Daily - 2018 Big Show Day 3 - 12
STORES Convention Daily - 2018 Big Show Day 3 - 13
STORES Convention Daily - 2018 Big Show Day 3 - 14
STORES Convention Daily - 2018 Big Show Day 3 - 15
STORES Convention Daily - 2018 Big Show Day 3 - 16
STORES Convention Daily - 2018 Big Show Day 3 - 17
STORES Convention Daily - 2018 Big Show Day 3 - 18
STORES Convention Daily - 2018 Big Show Day 3 - 19
STORES Convention Daily - 2018 Big Show Day 3 - 20
STORES Convention Daily - 2018 Big Show Day 3 - 21
STORES Convention Daily - 2018 Big Show Day 3 - 22
STORES Convention Daily - 2018 Big Show Day 3 - 23
STORES Convention Daily - 2018 Big Show Day 3 - 24
STORES Convention Daily - 2018 Big Show Day 3 - 25
STORES Convention Daily - 2018 Big Show Day 3 - 26
STORES Convention Daily - 2018 Big Show Day 3 - 27
STORES Convention Daily - 2018 Big Show Day 3 - 28
STORES Convention Daily - 2018 Big Show Day 3 - 29
STORES Convention Daily - 2018 Big Show Day 3 - 30
STORES Convention Daily - 2018 Big Show Day 3 - 31
STORES Convention Daily - 2018 Big Show Day 3 - 32
https://www.nxtbook.com/nxtbooks/nrf/STORES2019_tuesday
https://www.nxtbook.com/nxtbooks/nrf/STORES2019_monday
https://www.nxtbook.com/nxtbooks/nrf/STORES2019_sunday
https://www.nxtbook.com/nxtbooks/nrf/STORES2019_preview
https://www.nxtbook.com/nxtbooks/nrf/STORES_bigshowdaily20180116
https://www.nxtbook.com/nxtbooks/nrf/STORES_bigshowdaily20180115
https://www.nxtbook.com/nxtbooks/nrf/STORES_bigshowdaily20180114
https://www.nxtbook.com/nxtbooks/nrf/STORES2018_preview
https://www.nxtbook.com/nxtbooks/nrfe/STORES0415
https://www.nxtbook.com/nxtbooks/nrfe/STORES0315
https://www.nxtbook.com/nxtbooks/nrfe/STORES0215
https://www.nxtbook.com/nxtbooks/nrfe/STORES0115
https://www.nxtbook.com/nxtbooks/nrfe/STORES1214
https://www.nxtbook.com/nxtbooks/nrfe/STORES1114
https://www.nxtbook.com/nxtbooks/nrfe/STORES1014
https://www.nxtbook.com/nxtbooks/nrfe/STORES0914
https://www.nxtbook.com/nxtbooks/nrfe/STORES0814
https://www.nxtbook.com/nxtbooks/nrfe/STORES0714
https://www.nxtbook.com/nxtbooks/nrfe/STORES0614
https://www.nxtbook.com/nxtbooks/nrfe/STORES0514
https://www.nxtbook.com/nxtbooks/nrfe/STORES_sourcebook2014
https://www.nxtbook.com/nxtbooks/nrfe/STORES0414
https://www.nxtbook.com/nxtbooks/nrfe/STORES0314
https://www.nxtbook.com/nxtbooks/nrfe/STORES0214
https://www.nxtbook.com/nxtbooks/nrfe/STORES0114
https://www.nxtbook.com/nxtbooks/nrfe/STORES1213
https://www.nxtbook.com/nxtbooks/nrfe/STORES1113_buyersguide
https://www.nxtbook.com/nxtbooks/nrfe/STORES1113
https://www.nxtbook.com/nxtbooks/nrfe/STORES1013
https://www.nxtbook.com/nxtbooks/nrfe/STORES_mediakit2014
https://www.nxtbook.com/nxtbooks/nrfe/STORES0913
https://www.nxtbook.com/nxtbooks/nrfe/STORES0813
https://www.nxtbook.com/nxtbooks/nrfe/STORES0713
https://www.nxtbook.com/nxtbooks/nrfe/STORES0613
https://www.nxtbook.com/nxtbooks/nrfe/STORES0513
https://www.nxtbook.com/nxtbooks/nrfe/STORES0413
https://www.nxtbook.com/nxtbooks/nrfe/STORES0313
https://www.nxtbook.com/nxtbooks/nrfe/STORES0213
https://www.nxtbook.com/nxtbooks/nrfe/STORES2013_20130115
https://www.nxtbook.com/nxtbooks/nrfe/STORES2013_20130113
https://www.nxtbook.com/nxtbooks/nrfe/STORES2013_20130114
https://www.nxtbook.com/nxtbooks/nrfe/STORES2013_preview
https://www.nxtbook.com/nxtbooks/nrfe/STORES0113
https://www.nxtbook.com/nxtbooks/nrfe/STORES1212
https://www.nxtbook.com/nxtbooks/nrfe/STORES1112
https://www.nxtbook.com/nxtbooks/nrfe/STORES1012
https://www.nxtbook.com/nxtbooks/nrfe/STORES_mediakit2013
https://www.nxtbook.com/nxtbooks/nrfe/STORES0912
https://www.nxtbook.com/nxtbooks/nrfe/STORES0812
https://www.nxtbook.com/nxtbooks/nrfe/STORES0712
https://www.nxtbook.com/nxtbooks/nrfe/STORES0612
https://www.nxtbook.com/nxtbooks/nrfe/STORES0512
https://www.nxtbook.com/nxtbooks/nrfe/STORES0412
https://www.nxtbook.com/nxtbooks/nrfe/STORES0312
https://www.nxtbook.com/nxtbooks/nrfe/STORES0212
https://www.nxtbook.com/nxtbooks/nrfe/STORES2012_preview
https://www.nxtbook.com/nxtbooks/nrfe/STORES0112
https://www.nxtbook.com/nxtbooks/nrfe/STORES1211
https://www.nxtbook.com/nxtbooks/nrfe/STORES1111
https://www.nxtbook.com/nxtbooks/nrfe/STORES1011
https://www.nxtbook.com/nxtbooks/nrfe/STORES_mediakit2012
https://www.nxtbook.com/nxtbooks/nrfe/STORES0911
https://www.nxtbook.com/nxtbooks/nrfe/STORES0811
https://www.nxtbook.com/nxtbooks/nrfe/STORES0711
https://www.nxtbook.com/nxtbooks/nrfe/STORES0611
https://www.nxtbook.com/nxtbooks/nrfe/STORES0511
https://www.nxtbook.com/nxtbooks/nrfe/STORES0411
https://www.nxtbook.com/nxtbooks/nrfe/STORES0311_v2
https://www.nxtbook.com/nxtbooks/nrfe/STORES0311
https://www.nxtbook.com/nxtbooks/nrfe/STORES0211
https://www.nxtbook.com/nxtbooks/nrfe/STORES0111
https://www.nxtbook.com/nxtbooks/nrfe/stores1210
https://www.nxtbook.com/nxtbooks/nrfe/stores_mediakit2011
https://www.nxtbook.com/nxtbooks/nrfe/stores1110
https://www.nxtbook.com/nxtbooks/nrfe/stores1010
https://www.nxtbook.com/nxtbooks/nrfe/stores0910
https://www.nxtbook.com/nxtbooks/nrfe/stores0810
https://www.nxtbook.com/nxtbooks/nrfe/stores0710
https://www.nxtbook.com/nxtbooks/nrfe/stores0610
https://www.nxtbook.com/nxtbooks/nrfe/stores0510
https://www.nxtbook.com/nxtbooks/nrfe/stores0410
https://www.nxtbook.com/nxtbooks/nrfe/stores0310
https://www.nxtbook.com/nxtbooks/nrfe/stores0210
https://www.nxtbook.com/nxtbooks/nrfe/store_bigshow2010_post
https://www.nxtbook.com/nxtbooks/nrfe/stores_bigshow_20100112
https://www.nxtbook.com/nxtbooks/nrfe/stores_bigshow_20100111
https://www.nxtbook.com/nxtbooks/nrfe/stores_bigshow_20100110
https://www.nxtbook.com/nxtbooks/nrfe/stores0110
https://www.nxtbook.com/nxtbooks/nrfe/store_bigshowpreview2010
https://www.nxtbook.com/nxtbooks/nrfe/stores1209
https://www.nxtbook.com/nxtbooks/nrfe/stores1109
https://www.nxtbook.com/nxtbooks/nrfe/stores1009
https://www.nxtbook.com/nxtbooks/nrfe/stores0909
https://www.nxtbook.com/nxtbooks/nrfe/stores0809
https://www.nxtbook.com/nxtbooks/nrfe/stores0709
https://www.nxtbook.com/nxtbooks/nrfe/stores0609
https://www.nxtbook.com/nxtbooks/nrfe/stores0509
https://www.nxtbook.com/nxtbooks/nrfe/stores0409
https://www.nxtbook.com/nxtbooks/nrfe/stores0309
https://www.nxtbook.com/nxtbooks/nrfe/stores0209
https://www.nxtbook.com/nxtbooks/nrfe/stores0109
https://www.nxtbook.com/nxtbooks/nrfe/stores1208
https://www.nxtbook.com/nxtbooks/nrfe/stores1108
https://www.nxtbook.com/nxtbooks/nrfe/stores1008
https://www.nxtbook.com/nxtbooks/nrfe/stores0908
https://www.nxtbook.com/nxtbooks/nrfe/stores0808
https://www.nxtbook.com/nxtbooks/nrfe/stores0708
https://www.nxtbook.com/nxtbooks/nrfe/stores0608
https://www.nxtbook.com/nxtbooks/nrfe/stores0508
https://www.nxtbook.com/nxtbooks/nrfe/stores0408
https://www.nxtbook.com/nxtbooks/nrfe/stores0308
https://www.nxtbook.com/nxtbooks/nrfe/stores0208
https://www.nxtbook.com/nxtbooks/nrfe/stores-globalretail08
https://www.nxtbook.com/nxtbooks/nrfe/stores0108
https://www.nxtbook.com/nxtbooks/nrfe/stores1207
https://www.nxtbook.com/nxtbooks/nrfe/stores1107
https://www.nxtbook.com/nxtbooks/nrfe/stores1007
https://www.nxtbook.com/nxtbooks/nrfe/stores0907
https://www.nxtbook.com/nxtbooks/nrfe/stores0807
https://www.nxtbook.com/nxtbooks/nrfe/stores0707
https://www.nxtbook.com/nxtbooks/nrfe/stores0607
https://www.nxtbook.com/nxtbooks/nrfe/stores0507
https://www.nxtbook.com/nxtbooks/nrfe/stores0407
https://www.nxtbook.com/nxtbooks/nrfe/stores0307
https://www.nxtbook.com/nxtbooks/nrfe/stores0207
https://www.nxtbook.com/nxtbooks/nrfe/stores-globalretail07
https://www.nxtbook.com/nxtbooks/nrfe/stores0107
https://www.nxtbook.com/nxtbooks/nrfe/stores1206
https://www.nxtbook.com/nxtbooks/nrfe/stores1106
https://www.nxtbook.com/nxtbooks/nrfe/stores1006
https://www.nxtbook.com/nxtbooks/nrfe/stores0906
https://www.nxtbook.com/nxtbooks/nrfe/stores0806
https://www.nxtbook.com/nxtbooks/nrfe/stores0706
https://www.nxtbook.com/nxtbooks/nrfe/stores0606
https://www.nxtbook.com/nxtbooks/nrfe/stores0506
https://www.nxtbook.com/nxtbooks/nrfe/stores0406
https://www.nxtbook.com/nxtbooks/nrfe/stores0306
https://www.nxtbook.com/nxtbooks/nrfe/stores0206
https://www.nxtbook.com/nxtbooks/nrfe/stores0106-globalretail
https://www.nxtbook.com/nxtbooks/nrfe/stores0106
https://www.nxtbook.com/nxtbooks/nrfe/stores1205
https://www.nxtbook.com/nxtbooks/nrfe/stores1105
https://www.nxtbookmedia.com