Will deregulation change the face of India's retail?
My last stop on my 2012 worldwide tour of retail was Delhi, India this past week. The diverse culture heritage of India's past is reflected in its cities and markets today. This diversity is reflected in everything from food to retailing. Now that India's Parliament voted to allow entry of foreign Big Box retailers, will the 11+ million small shops survive the onslaught of the "whales of retail" … aka Walmart, Tesco and others?
Perhaps Yogi had it right all along – Nostalgia ain't what it used to be
On my third 15+ hour flight to Africa this year, I decided that it was time for a different kind of post. I've written about trends in retailing. I have recently reported on retail best practices from around the world. We've covered the essentials of consumer experience and what it takes to be successful in retail. Maybe it's time to boil it all down to some good ole "Paraprosdokian" phrases. What, you say? Ride along and see how Yogi Berra might have actually had some profound insights for life … and retail.
Retail is still detail, but it is being transformed by social media
By Heather Lantz
Many of you may have seen me at IMS Retail University workshops. I've had an opportunity to work with Chris Petersen for the last 16 years putting together courses for thousands of participants. Heather Lantz often appears on the IMS list of Retail U resources, but last week I had an opportunity to personally lead another Retail University workshop on social media. During these workshops, I rediscovered how important the "sound bites" are in capturing both the essence and challenge of retailing. In teaching our social media workshop, I found that there a host of new sound bites for this social age of retail, where the consumer is now in charge.
Rapid sales growth can cover retail “sins” of omission
While in much of the world economies and retail are still in recovery mode, Brazil is a bull of an economy. Brazil is bold, brazen and the land of where “beef is truly what’s for dinner”. Brazil has the highest GDP for Latin America, and now ranks in the top economies globally. So, what does retail look like in a booming economy? The Retail U Professor returns with insights, retail snapshots and glowing stories of "picanha"!
It’s not just the west, retail is changing everywhere
I’m always excited about the opportunity to take IMS retail workshops on the road to other countries. Last week I had opportunity to not only visit the Ukraine, but to meet with the senior management from top retailers in this emerging market. There are always some unique local challenges. However, there are more similarities than differences across retailers today. At the end of the day, results count … no matter where your retail stores are located.
In retail we usually talk about feet, that is, square foot metrics of a retailer. And, you could say we have walked miles touring retail store fronts and sales floors worldwide. But not this week, the IMS Retail U “professor” found himself 5, 280 miles from his homeland. IMS Retail University had the opportunity and pleasure to facilitate several different workshops in Kiev, Ukraine.
Growth of the “small screen” moves retailing online
I always relish the opportunity to take Retail University courses abroad. Inevitably, I find that the Professor learns as much as the students. While much of US and western European retail has been homogenized by the large big box chains, Asia is truly a land of diversity in retailing. There is nothing like first-hand experience of visiting retail stores in Asia. But, the biggest retail trend is not about stores … it’s happening online! Read on to discover a new resource to watch the trends unfold in Asia.
#1 Challenge of retailing today - It ain’t what it used to be
As I’m preparing for teaching a Retail University class in Singapore next week, I asked myself the question I always get asked: What is the #1 challenge in retail today? The answer use to be different by region. But today, retail has become a multi-channel reality worldwide. An interesting study by Gartner predicts that by 2015, 80% of retailers will fall flat in a multi-channel world. What will retailers and suppliers need to do differently worldwide in order to succeed in retail by 2015?
A retailer’s own website is biggest threat to their survival
Like 80% of consumers you go online to start shopping. You check out options and prices, but you go to the store to get firsthand experience. After getting some assistance from the retail sales person you make your choice AND then ask for the online price you saw on their web site. Good for you, but it will be the kiss of death for the store if they give you the online price.
The Dollar guys are chewing away at Walmart’s kingdom
People ask me why I like retail so much. Simple answer … it’s always changing. Nothing is a given or certain in these economic times. Walmart seemed invincible for decades – building its empire on the slogan of “Always”, implying lowest prices. Well, in this economy the “Dollar” store guys are kicking Walmart’s butt and even selling online.
