Massimo Volpe, Managing Director of GRA (Global Retail Alliance) and Chairman F.I.R.A.E (Forum Four International Retail Association Executives), was one of the speaker at “Ecommference”, the event that took place in Tel Aviv (Israel) dedicated to the e-commerce world.
During his speech, Massimo Volpe said that alongside the spike in online shopping, there is also a return to the physical stores. He also described a few retail models, including custom-made, subscriptions and customization. Various online companies have begun to focus on subscribers as a way to offer consumers a customized purchasing experience. For example, companies use a “try and buy” model that allows consumers to buy products and return them easily and efficiently.
He also mentioned recycled trade, a model leveraging from the trade of second hand goods. An example of this model is the company “ The RealReal“, which highlights the sustainability path and even collaborates with Luxury brands.
Today the emphasis is on online purchases which are based not only on loyalty, but also on the redefinition of physical space and in its integration with the virtual stores. This said, statistics show that sales in physical stores are still important and growing. Millennials and the Z-generation are returning to stores, for example.
The Hudson Yard project in New York City is the quintessential proof of this concept, a 25 billion dollar mega mall dedicated to Retail and Innovation.
GRA (Global Retail Alliance) headquarters are located in New York City. The company operates also in Australia, Brazil, China, Italy, Poland, Latin and Central America and Middle East.