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Aldo Bensadoun and Harley Finkelstein share retail insights during fireside chat

"My advice to people that want to start a business is ‘go for it.’ Don't hesitate, but know you'll fail sometimes, and also win sometimes, if you’re passionate about what you’re doing," says Aldo Bensadoun
Ty Burke | 13 Nov 2023

Entrepreneurial vision allows some people to see what the future could look like and shape what it will become. And as a precursor event to the Reshaping the Future of Retail conference, the Bensadoun School of Retail Management (BSRM) and KPMG hosted two retail visionaries who shared insights they’ve learned while building innovative ideas into retail success stories.

At a fireside chat, Harley Finkelstein and Aldo Bensadoun engaged in a wide-ranging discussion of the future of retail, the advice they’d give retail entrepreneurs, and the attractiveness of Montreal as a retail hub. Mr. Bensadoun (BCom’64, LLD’12), Founder and Executive Chairman of the ALDO Group, is a towering figure in BSRM’s history, whose was the catalyst for its launch.

Mr. Finkelstein is President of Shopify, an Ottawa-founded e-commerce platform that serves millions of small and medium-sized enterprises around the world. The two retail titans shared their knowledge and expertise with a community of retail academics and practitioners, speaking to how the retail sector has changed—and where it could be headed next.

Technological evolution

Technology hasn’t only reshaped retail sales by adding an e-commerce option, it has transformed the in-store experience too. The way that retailers reach consumers has changed profoundly since Aldo Bensadoun—more affectionately known as Mr. B—founded ALDO Group in 1972.

“Back then, you really had to learn details about customer behaviour,” says Mr. B. “But today, you can use technology to make that link between product and consumer. Suppose you have a couple going to a shopping centre. And one person is driving, and the other is looking at her phone. She can look at which brands are in that shopping center, and which stores she wants to visit.”

And in that store, technology will have ensured operations align with consumer expectations.

“Everybody is talking about AI. But in fact, AI is just a good friend,” says Mr. B. “It is like a super-powered person that helps you put out the right amount of inventory, minimize mark downs, and find products that people are looking for.”

Flexible retail options

And even though Mr. Finkelstein is president of an e-commerce platform, he views the in-store experience as integral to the future of retail.

“Most people assume I believe the future of retail is online. But I don't think it is online or offline,” says Mr. Finkelstein, who studied at °ÄżÍžş˛Ę before completing his law degree and MBA at the University of Ottawa.

“One of my favourite expressions is ‘the customer is king’. And I believe the future of retail will be dictated by how customers want to make purchases. If they want to buy online, you better have a kick-ass online store. If they want to buy in store, you need