It wasn't so long ago that Amazon's "Prime" two-day delivery benefit was a real game changer. Once a consumer paid the annual fee, the incremental cost of getting what (at the time) seemed like pretty fast delivery became zero. This is a "wow" for the customer, but it also creates adverse selection that's not necessarily … Continue reading Retail delivery wars: Smart strategy or an inevitable race to the bottom?
L'Occitane new experiential retail concept store in New York I keep reading that success in retail today is all about the experience. Some retail influencers whom I cross paths with on the conference circuit often anchor their talks on some variation of customer experience being "the new black." Whether I'm working with clients or fielding questions at one … Continue reading So now retail is all about the experience? Just what the heck does that mean?
There are all sorts of reasons we stay stuck, fail to take action on the things we tell ourselves really matter, spin on items big and small. Whether it's deepening (or ending) a personal relationship, finishing our book, quitting a soul-crushing job or starting that new business we keep talking about, there is an aspect … Continue reading Out of ignorance or fear?
It turns out that most retailers that find themselves at--or edging ever closer to--the precipice have much more of a revenue problem than having expenses that are fundamentally too high. And yet so many relentlessly focus on cutting costs, often leading to a further reduction in customer service. It turns out that when the major lever … Continue reading Choosing the race to the bottom
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’