What Type Of Person Thrives In Retail, According To A Finance Manager At Big 5 Sporting Goods
Retail thrives on creativity and a results-oriented approach, favoring those who can "see the results of their actions," particularly in the dynamic world of e-commerce and omnichannel strategies. The industry demands a deep understanding of the core customer and innovative marketing to connect with them, moving beyond traditional methods to maintain a strong connection and drive sales.
Creative, Adaptable, Analytical, Customer-focused, Strategic
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Kelvin Sun
Manager of Financial Planning and Treasury
Big 5 Sporting Goods
New York University, 2008
UCLA Anderson School of Management
Business Management & Admin
Apparel, Beauty, Retail & Fashion, Sports & Fitness
Finance
None Applicable
Video Highlights
1. Highlight 1: The retail industry is dynamic and offers many opportunities, especially in e-commerce and digitally native brands. There is a lot of growth and potential for those who are creative and want to see the impact of their work.
2. Highlight 2: Brick-and-mortar retail is evolving, with omnichannel strategies (combining online and in-store experiences) becoming increasingly important. Success requires understanding your core customer and using various marketing channels to reach them effectively.
3. Highlight 3: A strong connection with the customer and a deep understanding of the target audience are crucial for success in modern retail. This involves using various methods, such as social media and email marketing, to engage customers and drive sales.
Transcript
How would you describe people who typically thrive in this industry?
I think retail's really more exciting the last couple years. There's really a lot of growth in the brands you've heard about, but maybe don't associate with old-line retail.
Think like Bonobos or Allbirds, things like that. So there's a lot of young companies, especially in LA and especially e-commerce-based, that are private equity-backed, growing rapidly, attracting a young audience. It can be a really dynamic space.
For that segment of retail, it really favors people who are creative and want to see the results of their actions. I'm talking outside of just a finance function, but from a visit planning function. These are high growth.
The last 15 to 20 years have shown that brick-and-mortar is not going anywhere. The face of it changes a lot, and many older retailers will have to adapt.
We found ways, like in-store pickup at Target, Walmart, or Kohl's. This has been a really great business model for these companies. I think it forces you to think about who your core customer is and how to serve that person.
If you're running a women's line, how do you reach out directly? Are you going to use Instagram to connect with your customer and draw them in? How does that feed your e-commerce machine?
Do you have the capabilities to be omnichannel and deliver an in-person experience and a great online shopping experience? From a marketing point of view, how do you get promotion out to them in a way that drives sales?
The environments have evolved so much. You can't just email people and expect a response. So you've got to have really strong connections to your buyer.
What makes retail exciting is you still have to have that strong connection to your buyer and really understand your audience. Going forward, it's a very dynamic space that can attract a lot of talent from different backgrounds. There's still a lot to be done in retail.
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