University • 24.05.2017

Developing leaders for the rapidly changing retail industry

McGill University creating new knowledge and developing leaders for the rapidly changing retail industry

Bensadoun School of Retail Management
Bensadoun School of Retail Management
Source: DMA Architectes/Illustration by Benoit Jacques

Retail icon and philanthropist Aldo Bensadoun has stepped forward with a visionary gift to his alma mater, McGill University, aimed at creating new knowledge and developing leaders for the rapidly changing retail industry.

Thanks to a donation of $25 million from the Bensadoun Family Foundation, announced today, McGill will work on developing the Bensadoun School of Retail Management: an inter-disciplinary, state-of-the-art school dedicated to all facets of the retail industry.

At a time of significant change in the retail industry worldwide, the School will act as a hub in the heart of Montreal for students, researchers and practitioners to work collaboratively towards solving the real world problems facing retailers today.

The proposed School, slated to open in Fall of 2018, comes at a time when the retail industry is faced with a host of challenges brought on by an empowered, digital-savvy consumer, and a future driven by increased interconnectivity. With the objective of preparing students to participate in all aspects of the retail industry and shape retail worldwide, the School will provide an in-depth teaching curriculum and focus on the fundamental, integrated core sections of retail management: Technology, Business and Human-Cultural.

The School  will study the effects of emerging technologies and practices on the retail industry, such as Artificial Intelligence, and make use of McGill's existing strengths in neuroscience and brain-behaviour connection to better understand how consumers make decisions. It will also leverage McGill's core philosophy of sustainability to develop ways to promote healthier and more eco-conscious decisions. The School will also promote Montreal, Quebec and Canada as an international centre for research, training and best practice for the global retail industry.

A key, defining feature of the School will be its strong experiential component, which will serve to complement its robust academic curriculum. Experiential learning opportunities will be fostered through partnerships with domestic and global retailers, a retail data centre, and a teaching and research lab that will occupy a high-visibility space on the corner of Sherbrooke and McTavish Streets. The Lab will feature real-world simulations, providing students, researchers and retailers with hands-on opportunities to work on contemporary and relevant retail problems, straight from industry, in an academic environment.

The School will also offer comprehensive academic programming in retail management, from the undergraduate to the Ph.D. levels, to develop the future leaders of the retail industry.

"Thank you to the Bensadoun Family Foundation for this visionary gift," said Professor Suzanne Fortier, Principal and Vice-Chancellor of McGill University. "Over the course of his extraordinary career, Mr. Bensadoun has advanced both Quebec's prosperity and its social well-being. He epitomizes the qualities of McGill's students and alumni: an inquisitive mind, an unwavering dedication to one's goals, and a passion for making one's community a better place."

"With this transformative gift from the Bensadoun Family Foundation, McGill will become the global leader in retail management education and research," said Isabelle Bajeux-Besnainou, Dean and Professor of Finance at the Desautels Faculty of Management. "By leveraging the breadth and depth of research performed across the University, and in close partnership with the industry, the proposed School will reinvent the future of retail management."

The School's mission is to be a leading and highly respected source of new knowledge that can guide the development of outstanding retail enterprise in the domestic and global context. This will require experience and knowledge of best practices and promising new ones. The objective is to position McGill as a global leader in retail management, attracting the finest students, professors, managers and partners, and ultimately, to shape retail worldwide.

"I'm excited about the vision of the Bensadoun School of Retail Management to become a global center of excellence," says Aldo Bensadoun. "We will be able to provide the next generation of retailers with innovative solutions for the industry's transformation. As the consumer's behaviour evolves, success in retail will depend largely on the integration of connected disciplines such as big data, artificial intelligence and neuroscience, and that's what we'll provide for our students."

Source: McGill University

related articles:

popular articles:

Thumbnail-Photo: Successful customer loyalty in times of change: how to win with...
31.07.2024   #brick and mortar retail #sustainability

Successful customer loyalty in times of change: how to win with omnichannel

Challenges and trends in a cross-channel strategy

How has customer loyalty changed? Why is a well thought-out omnichannel strategy crucial ...

Thumbnail-Photo: Hanshow Awarded FY24 China Top ISV Partner by Microsoft for Innovative...
04.09.2024   #artificial intelligence #cloud computing

Hanshow Awarded FY24 China Top ISV Partner by Microsoft for Innovative Retail Solutions

Hanshow, a leading provider of retail digital store solutions, has been awarded the "FY24 China Top ISV Partner" by Microsoft. The award recognizes Hanshow's innovative technologies and deep cooperation with Microsoft in the field of ...

Thumbnail-Photo: Intelligent shopping assistant: how can it help in the store?...
26.06.2024   #brick and mortar retail #app

Intelligent shopping assistant: how can it help in the store?

Practical examples of use in DIY stores and fashion stores

Product search, navigation, shopping basket management and checkout: intelligent shopping assistants can now be integrated into ...

Thumbnail-Photo: Transform Customer Interactions with apg® Customizable Kiosk Floor Stand...
06.08.2024   #customer experience #kiosk applications

Transform Customer Interactions with apg® Customizable Kiosk Floor Stand

The leading provider of point-of-sale cash management and retail solutions, proudly announces the launch of its new Kiosk Floor Stand.

This innovative stand is designed to revolutionize customer service in various business environments through its high adaptability and user-focused design.The apg® Kiosk Floor Stand is unique in its ability to meet the diverse needs of different ...

Thumbnail-Photo: Introducing the Salto Glass XS Reader Series...
10.07.2024   #RFID (radio frequency identification) #access control systems

Introducing the Salto Glass XS Reader Series

Redefining Smart Access Control

Salto proudly unveils the Glass XS Reader Series, an innovative line of products ...

Thumbnail-Photo: Cash Management with the apg® Note Acceptor...
06.08.2024   #security #cashpoints

Cash Management with the apg® Note Acceptor

Stand-alone or as addition to the smarttill® Suite

Theft and counterfeit fraud are significant threats to retailers, underscoring the need for secure cash management solutions.For reliable bill validation and secure storage of high-volume bills, the apg® Note Acceptor is an essential tool. It ...

Thumbnail-Photo: Time saving made easy
18.07.2024   #brick and mortar retail #software applications

Time saving made easy

Use of technology in retail: focus on increasing efficiency and customer satisfaction

Task management software is one of the retail solutions designed to help shops save time and ...

Thumbnail-Photo: Fashion retail: mobile discovery, more convenient shopping...
04.07.2024   #online trading #brick and mortar retail

Fashion retail: mobile discovery, more convenient shopping

How Breuninger is breaking boundaries with omnichannel

Breuninger, with twelve stores in Germany and another in Luxembourg, provides a traditional shopping experience ...

Thumbnail-Photo: Introducing the Design XS Keypad Wall Reader Series...
23.07.2024   #access control #authentication

Introducing the Design XS Keypad Wall Reader Series

A New Level of Security and Convenience for Access Control

Leading global access solutions provider Salto Systems, part of SALTO WECOSYSTEM, is thrilled ...

Thumbnail-Photo: How Smart Cash Management Can Enhance Customer Satisfaction and...
13.08.2024   #customer satisfaction #Tech in Retail

How Smart Cash Management Can Enhance Customer Satisfaction and Engagement

Exclusive report from apg Solutions EMEA Ltd. shows possible solutions

More and more retailers are integrating cash payment at self-checkout (SCO). The reason for this is that consumers want to have the choice of how they pay. In times of high inflation, people want to know exactly what they are spending.But ...

Supplier

apg Solutions EMEA Ltd.
apg Solutions EMEA Ltd.
4 The Drove
BN9 0LA Newhaven
Zebra Technologies Germany GmbH
Zebra Technologies Germany GmbH
Ernst-Dietrich-Platz 2
40882 Ratingen
Innovative Technology Ltd.
Innovative Technology Ltd.
Innovative Business Park
OL1 4EQ Oldham
SALTO Systems GmbH
SALTO Systems GmbH
Schwelmer Str. 245
42389 Wuppertal