“In today's world, which is multi-channel, unfortunately we're in a period where stores will become increasingly less important in the total distribution mix. The world is moving online.”
quote is from the automated transcript, cleaned for reading:
filler sounds and stutters are removed, nothing is rephrased. names can be misheard
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More from Ron Johnson
AssertionNot checkable as stated
Johnson: Apple has had no bad product launches since opening stores
“One of the values of the Apple stores over the past 12 years is Apple has really not had a bad product launch since we had stores.”
Ron JohnsonJan 2, 2019▶ 10:29a16z Podcast | Building Brands and Running Retail -- Ron Johnson and Tristan Walker Break It Down
Opinion
Johnson: Operating retail stores as loss leaders is a failing strategy
“Oh, I think anybody who sets up a retail store as a loss leader is going to fail. You know, there are much better ways to invest your money to build a brand and to build a business than use a store as a loss leader. Now, that has worked at times for flagship s…”
Ron JohnsonJan 2, 2019▶ 14:44a16z Podcast | Building Brands and Running Retail -- Ron Johnson and Tristan Walker Break It Down
Disclosure
Johnson: Apple Stores were designed for customer experience, not direct sales
“And so we designed a store that wasn't about selling things. It was about making an owner have a better experience.”
Ron JohnsonJan 2, 2019▶ 6:16a16z Podcast | Building Brands and Running Retail -- Ron Johnson and Tristan Walker Break It Down
Opinion
Johnson: Microsoft stores are significantly more successful than public perception suggests
“I think the Microsoft stores have succeeded much more than the popular opinion.”
Ron JohnsonJan 2, 2019▶ 12:00a16z Podcast | Building Brands and Running Retail -- Ron Johnson and Tristan Walker Break It Down
Insight
Johnson: Discounting a product inherently damages and dilutes long-term brand equity
“And by definition, when you have to discount a product, it's a withdrawal from the brand.”
Ron JohnsonJan 2, 2019▶ 19:26a16z Podcast | Building Brands and Running Retail -- Ron Johnson and Tristan Walker Break It Down
AssertionPartly supported
Johnson: Best Buy's short-term profit optimization harms long-term shareholders and employees
“Some of the best, like Best Buy yesterday reported sales down two percent. Stock went up because they earned more money. Well, if they earned more money, it's because either the vendors gave them more margin, or they reduced payroll for their employees. Both o…”
Ron JohnsonJan 2, 2019▶ 22:34a16z Podcast | Building Brands and Running Retail -- Ron Johnson and Tristan Walker Break It Down
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