PROFILE

Richard Hernandez

Director, Main Street Markets

With over 30 years’ experience in the retail sector, Richard’s expertise spans across a broad range of fields:

Pricing, strategic initiatives, store operations, category management, product development, data analytics, retail consultancy,  as well as being a coach and a mentor to those in and out of the retail sector.

He has worked for several top retail companies adding to his experience and gathering tools from his retail toolbox to continue his adventure in retail.

Richard believes that we can learn something from everyone.

He is excited to be part of the RetailWire BrainTrust, not only to share his knowledge, but to continue to be a student of retail.

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  • Posted on: 05/24/2022

    Are ‘neighborhood stores’ what Google fans have been searching for?

    When I think of this, I think of the Microsoft Stores and their success. A lot of great ideas but not a lot of interest or need to go into the store. It took Apple several years of trial and error to get the right store format, and they keep adapting the format of each store to the area. I just don't know how much time Alphabet is willing to invest to let the brick-and-mortar stores find the right mix of products and services available.
  • Posted on: 05/23/2022

    Can Old Navy plot a new course and keep its inclusivity pledge?

    This is spot on. The only way this will work is that each store has to be tailored to the sizing of its demographic - period. This means that they will have to really rationalize their assortment by store, by size. It is a huge time and financial investment, and while I see what they are doing as positive, it is very hard to execute at the operations level and there needs to be a way to make it manageable on an everyday basis.
  • Posted on: 05/20/2022

    Will smart shopping carts transform the shopping experience at Albertsons?

    I just wanted to post this as no one has mentioned it yet -- where do I put my kids? Many parents use the basket to carry their kids and I see this plastic unit not being able to handle that at all. I am guessing there would be a split amount at stores?
  • Posted on: 05/19/2022

    Is the retail sky falling?

    I believe retailers will need to re-evaulate how they conduct their business. Supply chain and labor shortages along with inflation (that we don't see going away anytime soon) will continue to be big hindrances that need to be considered in the offerings for customers.
  • Posted on: 05/19/2022

    Are executive departures at Kohl’s a sign of things to come?

    We have had several discussions on Kohl's the past few months - some positive, some not so positive. Now I think it's playing hard to get and I think, as options begin to wane, leadership sees the writing on the wall. They have to find what works for them, however I don't know how much more time is left.
  • Posted on: 05/18/2022

    Walmart and Target report higher sales and lower margins

    Higher sales and lower margins seem to be the norm in this cycle and it's not unexpected. Supply chain issues (specifically freight) still continue to be a problem across the retail sector. Vendor partners are forecasting inflation to continue into 2023, so those aforementioned issues will continue as well and retailers will be make adjustments accordingly to compensate for it.
  • Posted on: 05/18/2022

    Should Apple have killed the iPod?

    The IPod came at a time when I wasn't carrying my iPhone all the time, so that made it easy to carry the iPod in my pocket all the time. I loved that device - it was my upgrade from my Sony Walkman. However, eventually, somewhere in the line of product succession, it got to be too much to carry an iPod, a work iPhone and a personal iPhone all the time, so the iPod had to be retired. Apple has progressed so far that now all you need is a watch and wireless earbuds. Pretty cool.
  • Posted on: 05/16/2022

    Are smaller retailers getting crushed by the supply chain mess?

    I actually believe small and medium sized retailers have an advantage in the supply chain as there are (in many instances) fewer hoops to jump through to get product onto the shelf.
  • Posted on: 05/16/2022

    Nordstrom Local is summering in the Hamptons

    I think pop-ups are always a good idea to introduce new brands to communities - even in the Hamptons.
  • Posted on: 05/13/2022

    Pedigree and Walmart seek an end to pet homelessness

    I don't think it's essential but it is a great community program that will be supported by the community.
  • Posted on: 05/12/2022

    Has Best Buy found an outlet for future growth?

    Current Best Buy stores have little open box inventory in their stores. I have purchased open box product in their stores and have never had issues with any of that type of product. The outlet store is a great addition to the store mix but there does need to be more differentiation - I see very little advertising for these stores.
  • Posted on: 05/11/2022

    ‘Babe’ star makes dramatic gesture over Starbucks’ upcharge for non-dairy milk

    Starbucks needs to end this. Either raise the milk price or lower the milk alternative pricing. The public has been told that oat milk, pecan milk, and pea milk are so much better for you, but yet it's going to cost you more to make the better-for-you switch? It makes no sense.
  • Posted on: 05/11/2022

    Would grocery delivery be a healthy addition to Apple’s business?

    i don't see it - Apple has always been a leader, not a "me too" company.
  • Posted on: 05/10/2022

    Is inflation the true cause of recent supermarket closures?

    I agree with Paula. These decisions don't come easily and quickly and supply chain issues still continue across the retail sector. As for the Whole Foods in Englewood, that was an experiment that just wasn't sustainable in the long term. It's a big commitment and I would have liked to see someone fill that space for the neighborhood.
  • Posted on: 05/09/2022

    Grocers fret over how to pass higher costs onto customers

    As with any pricing strategy change, you have to plan accordingly and look at the entire landscape before making a move. Look at SKU rationalization as well as an option.

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