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Saks is redefining the luxury retail sector as it splits its ecommerce business from brick-and-mortar stores. Matt Katz, Managing Partner and Head of Retail & Consumer Packaged Goods was quoted in The Robin Report on how he sees the shift impacting the company’s digital and physical experiences, and overall organizational structure.
Matt reflects on how the shift is appropriate to meet the increasingly digital environment. “Before you took a brick-and-mortar retailer mindset to the digital world. But we have discovered the entire customer journey is quite different. What you can do to guide that journey online is very different from what you can and must do in a physical environment. The luxury consumer is learning to enjoy the digital connection and the digital experience. However, the luxury customer is one who has always enjoyed a store experience.”
Additionally, he predicts how splitting physical and digital businesses will have a positive impact on Saks’ organizational structure. “I commend Saks in the clarity of purpose it brings the organizational structure. It will be very clear whom you report to, which division you support, and which company you work for. It will make a clear distinction as to where people spend their time.”
Read the full article here.
Matt Katz serves as a Managing Partner and heads the Retail & Consumer Packaged Goods and Private Equity practices at SSA & Company