PROFILE

David Weinand

Chief Customer Officer, Incisiv
Weinand is the co-founder and chief customer officer for Incisiv, a consumer industry insights firm that works with the ecosystem of retailers, brands, restaurants and technology providers on benchmarking services, go to market strategy, and content services. Prior to Incisiv, Weinand spent nine years at Edgell Communications/Ensemble IQ in various roles that included GM of the technology portfolio, publisher of RIS News and co-founder of EKN Research. To learn more, visit: www.incisiv.io
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  • Posted on: 03/12/2019

    What does innovation mean to retailers and brands?

    Retailers must frame innovation exactly how the question is asked - they must define it with respect to their organizations. "Me-too" innovation is not going to fly in this day and age as consumers are too smart and most importantly, every organization is different. Also, innovation doesn't have to be grand and expensive - labs are not for everyone. Incremental innovation can prove tremendously valuable when ingrained as part of the culture of the organization. Look at what Walmart is doing with pick-up/return towers, curbside pickup, etc. Other retailers such as Warby Parker (democratizing the eyeglass buying process) and Zappos (returns) have innovated their way to great success as well.
  • Posted on: 03/12/2019

    What will it take to make department stores relevant again?

    It has been a tough road for sure. Early inertia has forced most department stores to play catch up. However, I think what chains like Macy's and Nordstrom are doing is smart and innovative. Smaller formats, showrooms, and probably most notably, marketplaces, are where the department store is going. Department stores have some prime real estate and brands still need them as a channel - I see what Macy's is doing with their Market @ Macy's as the likely future of department stores. Brands leverage their retail expertise and real estate (retail as a service) while department store take on less and less inventory but create environments and experiences for fresh merchandise.
  • Posted on: 03/08/2019

    The rise of the chief artificial intelligence officer

    If AI is going to live up to the many promises its proponents are making - someone will have to drive that. Is that a "Chief?" I hope not - but someone that can oversee data and AI will be smart.
  • Posted on: 03/08/2019

    Has Dollar Tree gotten Family Dollar turned around?

    The most encouraging data point in this story is that Dollar Tree has paid down $4 billion in debt. As we've seen over and over again, too much debt is an anchor that few retailers can get out from under from. If they continue with the strategy they've detailed - rationalizing some stores, renovating others - I think they can successfully keep both brands.
  • Posted on: 03/07/2019

    Amazon puts a pin in its pop-ups to focus on permanent stores

    Pop-ups are valuable tools to learn of customer preferences and behaviors, traffic patterns, and merchandising strategies. It sounds like Amazon feels they know enough and now they are moving to the next phase of their retail strategy - permanent locations.
  • Posted on: 03/07/2019

    Do retailers need to reevaluate their omnichannel strategies and tactics?

    To answer the first is pretty simple - because that is where the customer is. For 70 percent of transactions, the shopping journey starts in a digital channel but the value of stores is as great as ever as shoppers are increasingly using them for online pick up and returns in addition to traditional shopping. Shoppers expect a seamless online to physical expertise so for the majority of segments, being omnichannel is table stakes. The challenges around physical to digital vs. digital to physical depends on the retailer or brand and who they employ. A digital retailer, to successfully open stores, should have people with experience and expertise with physical retail. The opposite holds true for physical retailers.
  • Posted on: 03/06/2019

    Target crushes it with strongest holiday results in years

    There are many smart decisions they have made that have contributed to their impressive growth. However, for a mass merchant, where they are winning is in their design aesthetic, which has lead to far more appealing experience. For all of the smart things Walmart is doing, they aren't touching what Target has done with their redesigns. They've made their cosmetics section look similar to a salon, their electronics section similar to a specialty store. It's just more appealing and shoppers will be more prone to browse and therefore buy more vs. just going in to get what's on their list.
  • Posted on: 03/06/2019

    Will attribute-based product recommendations be a game changer for Walmart?

    Providing intelligence that can offer more contextualized recommendations should be chalked up under "why hasn't this happened before now." It is really amazing to see Walmart acting so smart as they continue to push their business in new directions. Ultimately, this technology should provide an uplift in sales based on the ability to provide recommendations that are more refined and more relevant.
  • Posted on: 02/21/2019

    Lego brings AR to an empty store

    What a world we live in. This is all very cool but I think the technology has to advance further before the commerce angle can play any significant role for AR. I certainly wouldn't buy one of the items on the Lego "store" based on what I saw. I see AR use cases as very real for things like store planogramming, dynamic product information and branding before commerce. If the 70 percent figure is true, however, certainly AR is growing towards mass adoption with the next generation and use cases will continue to grow
  • Posted on: 02/21/2019

    Is long lastin’ the new fast-fashion?

    Consumer sentiment is definitely changing. Consumer sentiment around transparency (where was it manufactured and by whom) and environmental consciousness are becoming driving factors for the next generation of shoppers. Patagonia's practice of total transparency of the manufacturing process is a perfect example of a winning strategy for what shoppers want. H&M had to write off, what, $3 billion of excess inventory last year? Their target will notice that and judge them harshly for it. Fast fashion can still be a good business but these retailers should look at perhaps scaling back their mix and focusing on making what is available better quality.
  • Posted on: 02/20/2019

    What will it take to transform BOPIS ops from just okay to great?

    There has certainly been a lot of growing pains as it relates to BOPIS. Most retailers have figured out to move the pick up from the back of the store to the front (duh) and retailers like Walmart seem to be making a ton of progress automating the process with their towers. Of course, as a retailer, there's a fine line between making BOPIS totally seamless and using the opportunity of having the customer in-store for cross-sell/upsell. On the seamless front, geofencing so personnel can know when customer in the vicinity can help speed the process.
  • Posted on: 02/20/2019

    Samsung brings its own ‘Experience’ to first U.S. stores

    More and more brands are going with the DTC model - It makes sense that Samsung would follow suit. They have an opportunity to differentiate with their TVs and AR/VR products, and they can create an end-to-end experience that is more immersive and unique that what Apple can do. The trick, as always, is converting those experiences into sales. I can't imagine Best Buy is too psyched to see this as they are a huge seller of Samsung product.
  • Posted on: 02/15/2019

    Will Amazon’s decision to bail cause a New York backlash?

    Unfortunately, the backlash will last only as long as this news cycle. Something else will draw the attention of the media and the politicians. As Ryan pointed out, Amazon got an enormous amount of market data for nothing. A win. It seems the incentives that are offered are just getting bigger and bigger - to the point (like with the Olympics) that the economic benefits may never reach the impact of the incentives. But politicians can't get out of their own way so I don't see this changing.
  • Posted on: 02/14/2019

    America has too many retail stores

    The answer is well-documented. There are more U.S. retail stores per capita than in any other country in the world. So yes, we're over-stored. Stores are also changing and there have been many new formats launched in recent years (think Indochino or Nordstrom inventoryless showrooms or B8ta marketplaces) that require smaller footprints. This will continue to evolve as shopper behavior changes. The role of the store has also expanded so for example, retailers that have spaces that are too large for current shopper preferences can use some of that space for more efficient fulfillment for online orders, etc.
  • Posted on: 02/12/2019

    Barneys to become first major retailer to open legal weed shop

    People with money like to imbibe in the green stuff and in materialistic L.A., this should draw some interest and publicity for Barneys. Will it impact their business? No.

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