Jeannie Barsam, founder and CEO of Gifting Brands, a partner sponsor at the 2019 Women in Retail Leadership Summit, discusses how retailers can address the issue of excess inventory through donation. Barsam offers details into how Gifting Brands is providing a solution that does social good. During her more than 20-year career working for enterprise retailers, Barsam saw companies struggle with unused and old inventory — often burning or trashing unsold product — and facing consumer backlash for wasting the goods. Gifting Brands is a nonprofit organization that bridges the gap between retailers stuck with old inventory, customers who want to do social good, and nonprofits looking for a sustainable donation source. The company partners with high-end brands to collect excess inventory donations, sells the products to consumers on an e-commerce site, and allows consumers to choose the nonprofit that their purchase will benefit.
Barsam also discusses the technology trends she’s seeing in retail today, pulling from her career experience and her seat on the advisory board of retail software company S5 Stratos.