THE JOURNEY YO REMARKABLE RETAIL

Steve helps organizations understand and respond to retail disruption by creating customer-centric, memorable and profitable growth strategies.

Retail’s great bifurcation

This post originally appeared on my previous blog site in December 2015.

It’s not that malls are dying. In fact, many malls are not only surviving, quite a few are thriving.

Despite all the doomsayers, physical retail is not facing extinction. Not only are many retailers opening significant numbers of profitable locations, many of the most highly valued and rapidly growing pure-play online brands are opening brick & mortar locations. These new units are among the most productive of any specialty retail sites anywhere.

Department stores aren’t going away any time soon either, despite the constant buzz of consternation from Wall Street. Several major players are successfully reinventing themselves.

What IS happening is a great bifurcation. The proverbial fork in the road. The increasingly clear emergence of “have’s” and “have not’s. And the looming death in the middle.

“Class A” malls and the also-rans.

Retailers that have a well articulated target consumer and seamlessly meet those customers needs anytime, anywhere, anyway, versus stores drowning in a sea of sameness, offering disjointed service and peddling average products to average people.

Brands that either go big, efficient and cheap or intimate and remarkable, versus those that get stuck in the middle or are trapped in an inevitable race to the bottom.

There are obvious choices to be made. The chasm is widening. The poles are becoming more extreme.

Yet many of us remain stuck. Many brands keep straddling the line.We fail to choose because a bold commitment seems risky, when in fact it is our inaction that is the riskiest decision of all.

Pick a lane. Start driving.

And you might want to step on the gas.

 

Please follow and like us:
Why Does It Take A Crisis For Retailers To Get Innovative?

Why Does It Take A Crisis For Retailers To Get Innovative?

During the COVID-19 crisis we are experiencing tremendous innovation and experimentation on the part of just about every retailer. From curbside pick-up (and other forms of “contact-less” delivery), to appointment shopping, to the overall hyper-growth of e-commerce,...

read more
The Upside Of Denial

The Upside Of Denial

Is there any? If your experience is anything like mine, you know how seductive denial can be. Denial is the temptress that helps us avoid pain. Denial keeps us in our comfort zone like a warm bath at the end of a long day. Denial creates the sense that defending the...

read more
The Bullet’s Already Been Fired

The Bullet’s Already Been Fired

The bullets that killed RadioShack, Sports Authority, KB Toys, Sharper Image, and many other once iconic brands were fired long before their respective downward spirals of cost cutting and store closings began. They weren’t legislated out of existence. Consumer...

read more
logo

"The Store Operations Council enjoyed every minute of Steve Dennis's presentation on retail's future. He always keeps it real and speaks the language of retail experts."

Cathy Hotka

Principal

Cathy Hotka & Associates

logo

"The Store Operations Council enjoyed every minute of Steve Dennis's presentation on retail's future. He always keeps it real and speaks the language of retail experts."

Cathy Hotka

Principal

Cathy Hotka & Associates

4
5
%d bloggers like this: