THE JOURNEY YO REMARKABLE RETAIL

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

Death in the middle

In politics, finding the middle ground is often challenging, but typically it’s what is needed to make societal progress.

In conducting our own affairs, behaving moderately–what the Buddhists call “the Middle Path”–is usually the best way to find happiness and serenity.

Yet in business, the middle is often the place to get stuck and eventually die.

Years ago, the middle was the place to be, the way to serve the broadest possible market and to maximize market share. Think Sears.

Today, the middle is the place to try to be something to a lot of people, but ultimately not mean much to any of them. Think Sears again.

In a world where consumers have virtually infinite choices, tremendous access to information at their fingertips and digital business models allow for increasingly deep levels of micro-segmenting, you can’t straddle the line anymore. You need to pick a lane.

The retail graveyard is filled with once great brands that at one time commanded strong customer loyalty, dominant market share and lofty PE’s.

None of these brands got sick and died quickly.

They all failed to understand shifting consumer desires.

They all failed to see how technology would change their core business models forever.

They all defended the status quo, while upstart competition went from interesting to good to great.

They all watched while others acted, and then their belated action came to look more like flailing than strategy.

If you are feeling safe in the middle, you might want to think again.

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: