"Leading Indicators of Unchecked Inflation"

We're back! Brian joins Amazon, we talk subscription movie passes driving return to the shopping malls; and are we seeing leading indicators of unchecked inflation? PLUS: Who is the Nordstrom customer? Main Takeaways: Have Phillip and Brian run out of things to talk about? Odd-couple partnerships have become a thing in retail. Brian can never talk about Amazon, ever. GDPR: Friend or foe to small business? Brian makes a prediction that may change the way we regard the economy. Big Box Retail Crossover: Odd Couple Edition: Brian and Phillip graciously request a check from Magento for all the promoting they are doing this episode. Retail crossover is happening, and all the big box retailers are super into it. Nordstrom is now offering Anthropologie Home in their stores, will this bring new customers into Nordstroms? JCPenny is partnering up with Sephora (one of the easiest places to get lost in), which will remind customers that JC Penny still exists. Also, regarding Lord and Taylor and Walmart, the ultimate odd couple, can Wallmart upscale its offerings? Barbara Thau poses the question: Are retailers becoming mini malls? Kohl's is downsizing some of its stores, and adding German grocer Aldi's to their space, can discount shopping, and local produce make for a better retail experience? Brian points out that retailers are now free to be frenemies. Phillip wonders where these retailers are sourcing their data from, in deciding to form what may be the best crossover episodes ever. Can Movie Pass Bring Theaters Back From The Dead? Random movie news: Malls are trading the ghosts of retail's past for luxury movie theaters. In an effort to get people to actually go to the movies, Movie Pass is basically trying to be the Netflix for movie theaters. Brian is not all about movies, but find Movie Pass interesting. Phillip brings up a Retail Wire article that questions whether Movie Pass can reveive dying malls? One really interesting data point from the article: 54% of Americans prefer to watch movies at home, with only 13% preferring to go to the theaters. Brian points out that this makes sense: people can have an equitable movie theatre experience at home, especially with the emergence of streaming services like Netflix, and Hulu, and Amazon Prime. Phillip only uses Netflix to watch The Office (and Jessica Jones) which is pretty strange to anyone who has ever binge-watched anything on Netflix (which is basically everyone). Brian calls Phillip old. Does Anyone Really Understand GDPR? Phillip laments that only large business will have the resources to follow GDPR to the letter of the law. Many e-commerce platforms are only following the spirit of the law, not the letter, and it's putting all the onus on small business. If any e-commerce platforms are interested, here are the actual compliance regulations. Brian says he wants to wait before he makes a full prediction on how GDPR will impact small business. Are people okay with data sharing as long as they get some value in exchange? Brian says that government has a role to play in ensuring companies are not taking advantage of their customers. Sheryl Sandburg has said that for users who want to opt out of data sharing, there may be a premium Facebook product in the works. This may be a little daunting to some, who still want to believe that Facebook is totally harmless. Phillip wonders why the US government cannot just tattoo our foreheads. Could Economic Growth be Different Based on Social Class? Brian broaches an idea: Perhaps everyone is wrong about inflation, and the markers for economic growth. Brian is a big fan of The Atlantic. What if money is worth a lot less than we think, and what if that is what is confusing people about rate of economic growth? Seattle passes a $15 minimum wage to bolster wage growth, and somehow the world doesn't suddenly combust. Phillip points out that buying power depends on socio-economic status, so not everyone is really gaining the same from the uptick in economic growth. And as usual, the middle class will get the least and pay the most. Go over to Futurecommerce.fm and give us your feedback! We love to hear from our listeners! Retail Tech is moving fast and Future Commerce is moving faster. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.