Of course the obvious answer is "well, that depends." As the intersection of economic feasibility and consumers' willingness to adopt new technology hit a tipping point, for retailers that had invested big bucks in the brick-and-mortar distribution of music, books and games, the answer changed rather dramatically. Today's retail apocalypse narrative is nonsense. But it wasn't so long … Continue reading Physical stores: Assets or liabilities?
As I pointed out in my last piece, it is all too easy to be misled by high-level statistics and narratives that paint an incomplete picture of the retail landscape. Similarly, many fail to appreciate the underlying dynamics that (increasingly) separate industry winners from the losers and that which will ultimately determine when online shopping starts to … Continue reading Retail’s new fork in the road: Understanding ‘buying’ vs. ‘shopping’
From recent headlines you might assume that sales in brick & mortar stores must be falling off a cliff. You'd be wrong. Yes, e-commerce is growing at a much faster rate, but revenues in physical stores remain positive (1%-2% growth depending on the source). There is also a sense that online shopping is becoming the … Continue reading Physical retail: Definitely different, far from dead
If you are familiar with 12-step recovery programs you know about the Eleventh Tradition of Alcoholics Anonymous, which goes as follows: “Our public relations policy is based on attraction rather than promotion.” The obvious reason for this practice is that 12 Step programs have the anonymity of their attendees at their core. Moreover, AA–and its … Continue reading Attraction, not promotion (redux)
We're typically pretty good at laying out the features and benefits; at explaining all the reasons why our product offering is superior to the competition's and why it makes perfect sense that you should choose us. Unfortunately when the consumer is overwhelmed by choice, when it's hard to get them to even notice us--much less … Continue reading Confusing the offering with the story