Defining the battlefield
Only fight wars you can winWednesday 12 August 2009
In essence retail is simple; sell goods that customers want and find a way to make money doing it.
This straightforward truth leads retail managers to believe that retail is only about operational execution. “Retail is detail” is a useful truism – but it should not be allowed to obscure the need for stepping back from the detail once in a while.
What makes Wal-Mart different from K-Mart, Best Buy from Circuit City, Tchibo from Woolworths or Zara from Gap is not just operational capability. It is consistent focus on a customer driven strategy. In our experience, many retail “strategies” amount to nothing more than a list of operational plans. They talk incrementally about developments over the next couple of years – how many stores, which categories will be developed, how margins will be increased and so on.
This is all useful planning, but does not constitute a winning strategy.Read publication
Does price really matter?
Retailers invest huge amounts of effort and money in price. Chinese consumers have a surprisingly poor knowledge of actual prices, but do know where to get the best deal
Stop, look, listen
To be a customer centric retailer, management has to let the customer’s perspective cascade down through every aspect of the organisation from designing store formats to devising store labour models that provide the level of service that customers value most
The dawn of the e-tailers
OC&C’s Retail Proposition Index 2012 surveyed more than 2,500 consumers across China (East, North and South) to vote for their favourite retail brands
Weathering the storm
It is clear to all of us that our great industry is moving through tumultuous times. A deep recession is being followed by a long stagnation