Winning retailers focus on convenience, consistency, customized value
By Chris H. Petersen
Toys R' Us is an example of a "category killer" that did not make the cut. Sears will enviably fall by the death of a thousand short cuts that diminished its relevancy for today's customers. However, the big "retail apocalypse" has not happened as predicted. America's top retail chains will in fact add 5,000+ stores this year. Quite simply, those retailers who lived in the past died. Those who thrive are evolving on a very simple premise: increase relevance for today's customer.
Why this is important: Bricks and mortar retail is not dead. It still accounts for 85% of sales. In order to thrive, today's retailers must evolve from a product centric past to a future focused on increasing relevance by providing greater value add customers.
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