00:13 Scott Gerber: Is traditional retail dead, dying or just fine, in your opinion?
00:18 Alexis Maybank: I think traditional retail is changing. We see a lot of it moving year over year online. So it's putting tremendous pressure in the offline retail footprint to provide a unique experience. If it doesn't, it's really harder to attract customers in the door.
00:33 Gerber: But do you see a decade from now, some of the big box top retailers, whether they reconfigure or not. Do you feel like the show-rooming concept or these are just trends ultimately leading to, basically the death of the big box retail store in our life time?
00:48 Maybank: I think the show-rooming concept is real. But how they go beyond just being a showroom and a provider of information, an educator, to actually capturing the end sale is gonna be the most complex part of the transition. And there is brand loyalty, I think people will still go to the big box retailer even if they're going to buy it somewhere else. And the trick is to build the customer relationship so that knowing what you know about the customer you can still convince them to come shop with you online, on the mobile device, wherever it might be. Because you know that what's most critical is; they get that item delivered to them the next day, that they get a coupon or an offer or a cash back or whatever the incentive is, but the showroom concept is actually happening, we're going in that direction. How can they keep that customer past showroom to actual purchase, is gonna be the difference.
01:36 Gerber: So you see it more as of a consolidation of brand versus footprint; the footprint is seemingly part of the brand, but it's the brand loyalty not the store loyalty that you see as the future of customer shopping.
01:47 Maybank: I think they've to look at their footprints as, "Okay this is going to be the showroom of our products and services. This is what's gonna surprise and delight people as they come in. But now once we have that relationship, how can we capture and keep it as they purchase this item elsewhere? Can we offer them enough incentive? Do we know them well enough to convince them to consummate that purchase on our website, as opposed to somewhere else?"
02:10 Gerber: What do you think of the trend now, it happened a lot this past holiday season, it got a lot of play in things like The New York Times, a lot of e-commerce brands are now creating pop-up shops or again the footprint, is there a long-term play here? Or is this sort of just bridging the gap until we are really an e-commerce, truly e-commerce world?
02:26 Maybank: I think the pop-up shop is an interesting phenomenon, but what it shows is eBays of the world and other businesses that exist purely online, they're trying to create a seasonal destination where customers can come in and more intimately experience that brand, that business. So it is more of a marketing initiative, but it's a great way for a customer to more personally experienced that service, to get to know eBay, to have the personality of that specific shopping experience come to life more.