Retailers are feeling the squeeze amidst economic headwinds, shifting customer loyalty patterns, pressure to pay higher wages, and more. How are they staying afloat? At our Women in Retail | On the Road Columbus event last month, four panelists discussed the business strategies they’ve implemented that have helped propel their companies forward in a less-than-ideal environment.

The session, moderated by Susie Kuhn, the Foot Locker president overseeing Europe, Middle East and Africa, and general manager of Foot Locker Europe, was one of many panels Women in Retail is hosting during our On the Road series this fall.

Helly Ding, the vice president of global travel retail for Victoria’s Secret, said she’s seeing a real shift in how brands are connecting with consumers.

“I think gone are the days where a lot of the brands spend a ton of their money in in-store marketing, where you usually go to the mall and see something bright and shiny and you went into the store and that was the way that brands and retailers spent their money. Now it’s about connecting with the consumers on an emotional level,” she said.

That connection that used to happen at the store level now starts so much earlier in the customer journey, Ding said.

“Connection and authenticity are really the two key things that drive her or his brand selection,” she said. “In order for us to really appeal to the consumer these days, its so much more than just what happens at the store level. The journey starts so much earlier in the research phase and in the content you put out there as a brand.”

Erica Fortune, the senior vice president of e-commerce and digital marketing at Advance Auto Parts, said when it comes to adopting your technology to the changing consumer behavior, keeping the customer at the center is key.

“That is my best advice, and to me that has been humbling and allowed me to prioritize for my team,
Fortune said. “Understand the customer and let that be your north star and guide you to your tech stack.”

Lynn Blashford, the chief marketing officer of White Castle, acknowledged that with the shifting headwinds that has left companies with resource constraints, there’s competition within each enterprise for what to prioritize.

“As a leader, sometimes you have to compromise a little bit,” Blashford said. That can mean deciding to prioritize store remodels one year, then expanding manufacturing the next, depending on the availability of resources at the time.

Women in Retail members can watch the full session — including more about what key retail trends these executive women are tracking — in the coming days here. Not a member? Apply today!