Recent articles on all things retail
Watch this space for new articles each month as we find them.
The rise of the conscious consumer: why businesses need to open up
Customers are demanding transparency as they take an increasing interest in the ethical practices of those they buy from
The problem is the world of business can be opaque and supply chains are murky, so it is difficult to confidently make an informed choice.
Consider this: the retail manufacturing industry is the second most polluting industry on earth, second only to oil. According to Annie Leonard, an expert in overconsumption, only 1% of the materials used to produce our consumer goods are still in use six months after sale. Somewhere, the value of craftsmanship and of provenance has been lost. Price and speed are trumping value.
Here’s one with Retail Renewal quoted
Why some fashion stores like Penneys and TK Maxx resist selling online
Despite its popularity, e-commerce doesn’t always make business sense
WITH IRISH CONSUMERS spending €5 billion online every year, you’d think that every clothing store would be desperate to get a piece of the action.
However, while most large chains have rolled out online equivalents of their brick-and-mortar presence, a handful of the industry’s biggest names – like Penneys and TK Maxx – remain staunchly offline in Ireland.
Ex-Debenhams Ireland general manager Linda Ward, who owns a consultancy firm called Retail Renewal, says there’s a simple reason why clothing stores might resist e-commerce: online and offline are two “completely different” business models.
Two-thirds of millennials shop in stores every week
Millennials enjoy shopping as a pastime and want an elevated in-store experience, though they also expect a high level of convenience, according to a new report from omnichannel analytics firm Euclid emailed to Retail Dive. A quarter of millennials (more than the 20% of Baby Boomers and 19% of Gen Xers) like to shop with family and friends, according to the report.
Retail Tech: Beyond Shiny Baubles and Gadgets
By Doug Garnett, Founder & CEO Atomic Direct
A man after my own heart! The incessant emphasis on tech solutions for retail problems is founded on the misconception that digital solutions can solve all the problems in your business. Read this honest view on how retailers should address the bricks and clicks dilemma.
Top 10 Tips for Retailer Success
Each tip will be expanded on in my blog once a month during 2018.
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- Know your USP – function, emotion, what is unique about your business?
- Have a plan – vision and mission, strategy, marketing plan, financial plan
- Have a great product – consistent quality, innovate, track your sales – what and how
- Have a sparking shop – good layout, high retail standards, signage and lighting, merchandising
- Invest in people – right person for the right job, represent you and your brand
- Marketing – have a plan, 6 P’s of the marketing mix
- Omnichannel – traditional customer lifecycle replaced by digital customer lifecycle
- Invest in technology – you can’t manage what you don’t measure
- Work on the business – schedule time away from your business to work on it, not in it.
- Enjoy and have fun! Love what you do, reflected in your business, retail is hard work!