Unlocking Retail Mysteries: AI, Store Locations, and Building Relationships with Ricardo Belmar
Are you ready to unlock the mysteries of the retail world? We certainly are! This episode is a fascinating exploration of the industry, featuring a candid conversation with retail tech advisor Ricardo Belmar. Ricardo's insights from his own journey into the retail industry, which he amusingly stumbled upon, are genuinely enlightening. Let's buckle up and appreciate the significance of good wi-fi in stores through Ricardo's experiences, and understand why executives need to step from their ivory towers into the retail environment.
As we navigate the bustling streets of the retail landscape, we find ourselves in the heart of the diverse establishments in the DC area. It's fascinating how the pandemic has laid bare the concentration of certain retail establishments, shedding light on the essential need for right-sizing stores in strategic locations. From Walmart's sprawling presence across the US to Macy's acquisition strategy that resulted in a surplus of stores - we cover it all. We even take a detour to explore why some areas are surprisingly Apple Store-free.
The episode takes a riveting turn as we dive into the world of AI technology in retail, particularly its role during the pandemic. Ricardo guides us through the labyrinth of AI's use in retail, from how it was leveraged by retailers to how tools like Microsoft Teams were used for innovative solutions. He beautifully illustrates the use of AI and machine learning in creating new products and services, and delves into the potential of influencer partnerships. Ever wondered about the impact of AI on jobs? We've got you covered. As we bring the episode to a close, we dwell on the importance of relationships in retail. Trust us, you don't want to miss this one!
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Connect with Ricardo on LinkedIn: https://www.linkedin.com/in/rbelmar/
Check out Ricardo's podcast, The Retail Razor Show, co-hosted with Casey Golden: https://redcircle.com/shows/retailrazorshow
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