with marriage, status and wealth, not because they were rare, but because of a compelling story that made them so. What does this have to do with retail? Well, pretty much everything. Consumers do not just buy products; they buy with emotion and the stories that surround those emotions. The most successful retail brands are not merely in the business of selling goods and services, they curate experiences, sell feelings, shape perceptions, and integrate themselves into the personal narratives of their customers. The difference between a brand that does well and one that struggles often simply lies in the strength of the story it tells, about itself, its values and its emotional default, which is now what positions its purpose. Why storytelling matters so much  Since the dawn of time, storytelling has been at the heart of human culture. Long before any written language, knowledge, traditions, and values were passed down through talking or speaking narratives. Stories help us make sense of the world, forge connections with others, and give meaning to our experiences. In retail, storytelling serves a very similar purpose, it adds depth, emotion and context to products and, most importantly, brands. Every major shift in society has been accompanied by a change in narrative. The Industrial Revolution was never merely a shift in labour but a whole redefinition of what work meant. Similarly, the rise of digital commerce was not just about technological advancement but about how we now perceive convenience, trust and the shopping experience. As the writer Joan Didion famously remarked, “We tell ourselves stories in order to live.” The brands that get their head around this fundamental truth are the ones that shape customer experiences far beyond mere transactions. The role of storytelling in retail success Consumers are always naturally drawn to brands that align with their own values, beliefs, desires and aspirations. Consider the below examples of narratives that influence buying behaviour and purchasing decisions: Luxury brands represent status, success and ambition. Sustainable products reflect ethics and responsibility. Tech-driven retail appeals to those seeking efficiency and convenience. Independent boutiques symbolise authenticity and craftsmanship. These aren’t flash-in-the-pan trends but deeply ingrained, inherent and fundamental belief systems. Those brands that successfully align themselves with emotional defaults and values always build and cultivate much stronger customer loyalty and advocacy. Those that don’t clearly create such alignment will have limited time left, in my opinion. Reshaping our own personal narratives will always foster a greater resilience and adaptability…The same principle applies to retail. A brand that perceives itself as being in a battle against e-commerce will often resist digital transformation. On the other hand, a brand that sees itself as evolving with consumer behaviour will actively embrace change. A retailer that believes customers are concerned only with price will fixate on discounts and ways to shorten the sales funnel and path to purchase, while one that understands the power of emotional connection will prioritise engagement and experience. When a brand loses its narrative: Nike’s misstep Even the most iconic brands can falter when they lose sight of their core narrative. Nike, long celebrated for its powerful storytelling, built around empowerment, athletic excellence and cultural relevance, recently found itself struggling to connect with its audience in the way it once did. For decades, Nike’s campaigns inspired generations. From ‘Just Do It’ to partnerships with legendary athletes, the brand positioned itself as more than just a sportswear company, it was a symbol of determination, inspiration, motivation, progress and personal triumph. But as we saw in recent years, Nike’s storytelling became inconsistent, diluted by mixed messaging, an over-reliance on political stances, a focus on technology, and a shift away from the grassroots sports culture that once defined its appeal. In 2023 and early 2024, Nike faced financial consequences. The company reported a 10 per cent drop in sales in North America, its largest market, and an 8 per cent decline in direct-to-consumer sales. Its share price also fell by over 20 per cent across the year, as investors and analysts cited concerns over a lack of innovation, weaker consumer demand, and misalignment with its core audience. It had created confusion with its target market and was feeling the cost of doing so. Nike’s focus on digital transformation, while perhaps necessary or right at the time, came at the cost of the traditional storytelling strengths for which it was once so famous. Instead of reinforcing its core message – athletic empowerment and perseverance – it became reactive to market trends, losing the emotional resonance that had made it a powerhouse. Meanwhile, emerging competitors like On Running, Hoka and many others capitalised on the gap, offering fresh, compelling narratives that felt far more authentic and connected to consumers. This is a critical lesson. Even industry giants are not immune to the dangers of losing their narrative. A brand’s story is not just a marketing tool, it is the essence of its identity and if the brand is clear and strong the marketing becomes powerful. So, how does narrative shape consumer behaviour? Fixed vs fluid brand identity Unfortunately, struggling retailers are often victims of clinging to a rigid identity: “We are a traditional store; digital commerce is a threat.” In contrast, successful brands adopt a very fluid identity: “We forget about where the consumer wants to buy from us, we just make sure they can, we engage with customers across multiple channels, online, in-store, and through immersive experiences.” There’s been lots of work on the growth mindset that shows the belief in adaptability is a key determinant of success. Retailers that embrace change position themselves as forward-thinking and customer-centric. The hero vs victim mindset When faced with industry disruption, retailers will normally adopt one of two perspectives: The victim narrative: “Large retailers and online platforms are taking away our business.” This is when retailers get lost in what everyone else is doing. The hero narrative: “Customers still seek meaningful shopping experiences, how can we offer something unique?” This is when retailers reflect on what they are doing and take an inward approach to tackling challenges. The distinction is all about mindset. Resilient brands see challenges not as threats but as opportunities to innovate and evolve.  Fear vs curiosity in retail evolution Retailers that fear change may think, “AI and automation will eliminate human interaction.” This hesitancy leads only to stagnation. Meanwhile, those who adopt a curiosity-driven mindset ask, “How can we use technology to enhance personalised customer experiences and make ourselves even more humanised as a brand?” This approach is what really fosters and leads to amazing innovation. The hardest person to be honest with is always ourselves, and self-deception is the most dangerous kind of illusion. Retailers who take control of their own narrative, rather than reacting passively to industry shifts, will ultimately define the future. Shape the future Retail success is not just about pricing strategies or technology adoption, it is about shaping the story of change. Brands can and will thrive during uncertain times by always crafting compelling narratives that resonate with consumers. Here are some examples: Department stores were declared obsolete until some smart ones redefined themselves as experiential hubs. Small retailers struggled against corporate giants until some leaned into their authenticity and unique brand stories. The death of physical retail was predicted, yet clever brands turned their stores into immersive studios for brand experiences rather than mere transaction points or stopped relying solely on sales as the metric of success in physical retail. As Thomas Kuhn wrote in “The Structure of Scientific Revolutions”: “The paradigm shift occurs when a new story makes the old one obsolete.” Crafting a new retail narrative What if the future of retail was not defined solely by efficiency or trying to keep up with the latest technology, but instead by creativity, human connection, and emotional engagement? What if, instead of fearing digital transformation, brands saw it as an opportunity to enhance real-world interactions and human connection? The question for me is not whether retail will survive, it always has and always will. The real question should be: What story will your brand tell about its role in the industry’s evolution? Because here is the reality, so listen closely: You are not a passive participant in someone else’s retail narrative. Every day, your brand makes a choice. You can either accept the stories handed to you, or you can take control and write your own. After all, the stories we tell about change are not just narratives, they are the foundations of our future success. Further reading: Why art beats science in retail: Storytelling, design and sensory experience