By most accounts Blockbuster will soon seek bankruptcy as a last ditch effort to address its mountain of debt and incredibly shrinking business model. While Blockbuster's immediate term issues are capital structure related, the Blockbuster story is one of a company that has neglected to embrace even the basic tenets of customer-centricity for more than … Continue reading Blockbuster: In Search of Customer-Centricity
So last month's retail comparable sales numbers are out and they are pretty bad. According to Financo, the specialty retail sector (guys like Gap and Abercrombie & Fitch) was down 1.1% for May, despite comparing against a 7.3% decline last year. Department stores fared better, up 1.8%--but that compares against a horrific last year when … Continue reading The Stall at the Mall: Retail’s Tepid Bounce Off the Bottom
Part of any remarkable customer growth strategy is what I like to call "ruthless experimentation." Old timey, product centric growth strategy was all about the big reveal. We spend months and months coming up with our bold new marketing plans and then--at this point, please pause dramatically--Ta-Da!--we see if (hope that?) the customer likes it. … Continue reading Ruthless Experimentation: What Are You Afraid Of?