WAYNE, N.J. — Toys"R"Us chairman and CEO, Jerry Storch, is making the rounds this week, as his company prepares for the holiday and questions remain on the status of it's IPO.
Storch gave the keynote at the Shop.org summit in Denver, where he discussed how stores still played an important role in a growing Internet-based retail economy and how successful brands find ways to engage customers across all channels.
Storch asserted that traditional retailers have many valuable assets, especially store locations, to compete in this evolving world. He illustrated how brands must engage and interact with customers through multiple means to provide convenience and flexibility and give consumers the ability to shop wherever, whenever and however they choose.
“While there has been much focus on online-only shopping – and our own e-commerce sites have grown to a $1 billion business – the reality is that the vast majority of sales still occur in physical stores,” said Storch. “The successful brands will be those who offer the best products and services across all channels. As an omnichannel leader, Toys“R”Us is intensely focused on integrating stores, internet, mobile, social and local components, and leveraging our many operational assets to offer new services is an ongoing strategic initiative. To compete in this changing world, retailers must be aggressive and seize the day!”
Storch's speaking schedule continues Wednesday at the Toys"R"Us flagship store in New York City. Storch is expected to offer insights into the upcoming holiday season as well as provide an overview of the past year.