National Retail Federation Chairman and CEO of Macy's Terry Lundgren opened Retail's Big Show, the National Retail Federation's 100th annual convention, with a speech that outlined future trends for retailers in 2011.
"My organization, including Macy's and Bloomingdale's, is very well-represented here at this conference because this is where we all see and hear the best and most current information that drives our industry, as well as the products and technology which are being developed to support our company," says Lundgren.
Lundgren stressed the importance of "customer-centric" marketing, and asserted that being locally and even individually relevant will be the new standard of success for large, multi-store companies. He also highlighted the importance of the retail sector in the U.S. economy.
"The retail and restaurant industries represent one in five jobs in America, so if there's going to be any kind of job recovery in this nation, it's likely that the NRF will play a major role," Lundgren says.