No industry has been more transfigured in the past year than retail. Stores now behave like websites, tracking customers as they browse. American malls have pretty much died (but may be on their way back to life). And in some parts of the country, you can have your milk and eggs home-delivered, along with your new iPod, on the same day. Those who lead the field strike the right balance between physical and digital, experience and affordability, and convenience and quality.
1. Warby Parker
For being the Warby Parker of Warby Parkers. It’s
not just a company—it’s a category. As the eyewear maker opened four
more brick-and-mortar stores, closed a $41.5 million round of funding,
collaborated with the likes of the musician Beck, and expanded its staff
to 300, it set the standard for merging online and real-world commerce
while maximizing its cool. This inspired other e-commerce startups to
explain themselves as “the Warby Parker of [fill in the blank]”—from
Cory Vines (gym clothes) to True&Co (bras)—either as an easy
shorthand or to just ape some of Warby’s glow. Read more >>
2. Amazon
For leaving its competitors in the dust. If Amazon
was only pushing free two-day deliveries with its Prime membership—which
grew by millions in 2013—it’d still have a leg up on the retail
industry. But of course, it couldn’t stop there: Its grocery-delivery
service, AmazonFresh, a Trojan Horse for hooking customers on same-day
delivery habits, expanded to Los Angeles and San Francisco, while its
partnership with the U.S. Postal Service brought—gasp!—orders to your
doorstep on Sundays. Sizable profits for Amazon might be as far away as
its promise of 30-minute drone delivery, but one thing is certain: Its
competitors have miles to go if they hope to catch up. Read more >>
3. The Legaspi Company
For rebuilding malls to meet cultural needs. By
understanding Latino customs, the Legaspi Co. is revitalizing a dying
bastion of American commerce: shopping malls. Advertising exec turned
developer José Legaspi has resurrected 10 failing properties by turning
them into Hispanic cultural centers, incorporating religious offerings
in stores, and providing spaces for families to congregate. Legaspi’s
methods have led to a 30% increase in income and foot traffic across its
70 locations in the southwest and southern United States. Read more >>
4. J.Crew
For meticulously cultivating its brand to become the world’s iconic American clothier.
J.Crew’s quintessentially American aesthetic—which flawlessly melds
runway-worthy design with middle-class value—went east last year, with
the company opening its first stores outside the United States. Its
overseas march began with a 17,000-sqaure-foot location on historic
Regent Street in London, and the outfitter reportedly has its eyes set
on Hong Kong, Japan, and Australia. The global expansion comes on the
heels of a 10% revenue increase in 2013, which many would credit to the
revered partnership of CEO Mickey Drexler and Jenna Lyons, president and
creative director.
5. Walmart
For deploying smart mobile solutions to aid its customers.
According to Walmart, its app-wielding customers make twice the
shopping trips per month and spend 40% more than non-app users. That’s a
clear sign that the retail giant’s efforts to use mobile to improve its
business in the digital age is working. Just a couple of innovations
from its WalmartLabs include the ability to guide customers (via GPS)
directly to products in its cavernous stores, and even let them skip the
checkout line and scan and pay for items with their smartphones. Its
stores aren’t Amazon-proof yet, but they’re getting there.
6. eBay
For expanding its business model to become retailers’ best friend.
In keeping pace with the revved-up world of e-commerce, eBay’s
ambitious hyperlocal push has allowed it (and its retail partners) to
remain plausible shopping options for consumers spoiled on convenience.
Its one-hour delivery program, eBay Now, expanded to metropolises like
New York, Chicago, and Dallas, while the company looked abroad (and even
to the cosmos) for growth. It recently teamed with U.K.-based store
Argos to let users pick up online purchases in stores, and last summer
it announced PayPal Galactic, its plan to allow people to buy things from space.
7. Burberry
For upholding its legacy of impeccable design while catering to the digital millennial.
While the style of Burberry’s classic trench won’t change, the people
wearing it have—and the London fashion house has dedicated itself to
changing with them. Its retail stores put the brand’s tech-friendliness
on display with mirrors that interact with products via RFID chips. And
when Burberry wanted to shoot a runway show with a set of
not-yet-released iPhone
5s, Apple—at the time, Burberry CEO Angela Ahrendts’s soon-to-be
employer—readily handed them over. Besides bridging the gap between
classic fashion and innovative retail, Burberry has also found new life
in Asia, as revenue soared 14% in the region (thanks, in part, to a
newly constructed outpost in China).
8. Zady
For selling radical transparency as the new black.
Soraya Darabi and Maxine Bédat scour trade shows to populate Zady, which
tells shoppers where in the world their clothes are made, along with
background information on who makes them. The company, launched in
August 2013, highlights and sells items from smaller brands, such as
fine leather goods from Detroit-based Karmo Studio, to larger ones, such
as New York–based clothier Steven Alan. Each item featured on Zady is
ethically sourced and manufactured, and almost all of the respective
companies call the United States home.
9. Farfetch
For creating a one-stop shop for browsing high-end boutiques around the globe.
Farfetch’s site is almost like a retail portal to the rest of the
world: Customers can shop the streets of Milan or New York, all from the
comfort of their own home. The London-based site, which offers products
from more than 300 boutiques in 24 countries, nabbed a $20 million
boost in funding last year—led by fashion-bible publisher Condé Nast—to
further expand its reach in 2014.
10. Macy's
For mainstreaming the notion of everywhere retail.
In what it preached as “omnichannel” retail, Macy’s spent the better
part of 2013 completely transforming its supply chain—making an
impressive 500 stores perform double duty as fulfillment centers—to
ensure customers could order and receive products from any store
location, in any variety, and, when possible, on the same day. At last
count, 10% of online sales are fulfilled from Macy’s stores.
Editor's Note: In a previous version of the Burberry entry,
Angela Ahrendts was identified as the former CEO of Burberry. She has
not yet left the company.
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