Carol Spieckerman’s Retail Insights
Nail the Sale Chapter One: A Shopping Trip of Reverse Proportions
. . . I can be a browse-resistant, Benjamin-shooting machine and up until last weekend, Best Buy has never given me any reason to change my M.O. It’s worked out well for both of us. All of that changed last weekend . . . and not to Best Buy’s benefit. After I had one of the greatest customer experiences I can remember, Best Buy forfeited a doozy of a sale (upwards of $5,000)—and they had sunk a big chunk of time into it, too. Here’s how it went down (and BTW, I'm using the recent Best Buy trip as an example. Y'all know I'm about patterns, not anomalies, and I'm seeing this situation lots of other places).
The Wisdom of Crowds: Localization Roundup!
Judging from the great insights that flooded in on the heels of our Retail Wire discussion on Monday, retail localization is in its infancy. In that piece we addressed the historical tension between centralized and localized buying, the perceived benefits of both strategies and recent attempts at localizing assortments through centralized buying structures. Here are some highlights. (Warning, only major retail geeks should press on)!
Paradise Lost? What's Wrong with Retail When Everything's Right.
Imagine if every Wal-Mart and Target were a clutter-free wonderland, where your products are perfectly merchandised, every aisle is generously spaced with enough room for two-way traffic and then some, and the only thing cleaner than the sight lines is the floors. Envision the usual shopping cart cacophony reduced to a faint whoosh, olfactory assaults completely eliminated, and all audio turned down to pleasing ear-range volume. Order completely restored. Wouldn’t that be amazing? . . . Maybe.
Walmart's Andrea Thomas on Private Label's New Promise(s)
Remember when any brand that mattered was provided by a vendor? When the terms “private label” and “generic” were synonymous? A time when Andrea Thomas’(Walmart’s Senior Vice President of Private Brands) lead question, “What is a brand?” was a lot easier to answer?
Read more of our coverage of Ms.Thomas’presentation as part of the Bentonville Bella Vista Chamber’s Champion Speaker Series.
Supplier lessons from Target's cya to Amazon
Target just decided to take its web platform away from Amazon and bring it in-house. Before you say, “Who cares? I’m not Amazon,” I pulled together a couple of insights from the development that retail suppliers might want to think about.
If we've said it once, we've said it hundreds of times: retailers see themselves AS a brand these days, and perhaps no retailer out there believes that more than Target.
The Best of Best Buy & Walmart: Barrage Beats Triage
Introducing electric vehicles, expanding into vinyl records, exploding private label, unveiling used game exchange kiosks, launching an online open idea exchange, forming an exclusive alliance with TiVo, incubating an experiential in-store environmental upgrade . . . all major initiatives that Best Buy has announced since the beginning of the year. Oh and look for this month’s launch of “Twelpforce,” which will have Best Buy associates scanning Twitter to find folks seeking electronics illumination. (click on blog title to comment)
Is Best Buy biting off too much at one time? Tossing it out and seeing what sticks? How can they take all of this on? Well, how can they not? If you ask us, Best Buy serves as a case study in post re-set relevance at a time when some other retailers and brands continue to pick, choose, dabble, and dunk pinkie toes like it was 2000.
Private Label Refreshes Continue: Target's Back on the up & up
The private label re-launch, reinvent and reinvigoration process marches on (see previous post on Walmart's Great Value). Took a few snaps of Target's "up & up" brand which the retailer is framing as a re-launch;however, I think it's more accurate to call it a replacement (for the Target brand, previously represented by a red bullseye).
Options Aren't Answers: 4 Reasons to Ditch “Can Do” With Retailers
Over the last decade, retail vendors have expanded their product and brand portfolios, points of distribution, door counts, price point options, and sourcing selection . . . Retailers drove much of this because, as they got savvier, they began expecting even more from vendors . . . And, as retailers ruthlessly wrung out efficiencies and vendors rose to the challenge, the baseline kept getting higher for everyone. The explosion of private label, licensing and brand brokering activity brings even more options and expectations for vendor flexibility.
Report From Licensing International: Align and Shine, People!
A mantra that we share with our clients is “those who play, stay” and “perception is reality.” If you’re digging in your heels or whining, “Who’s got the TIME?” then you’re missing the point. Retailers are finding the time and they want to work with brands that are early-stage participants; not late-to-the-party lurkers
AGFS: The Condition Retail's Condition is in
There are “signs” that “we may have hit bottom” or then again, “we may not have seen the worst yet” though “any recovery” may be “slow in coming” or might take a period of “up to 3-5 years” or “well into 2010 at the earliest.” In the meantime, know that the shopper is very much in charge and she won’t likely return to previous habits no matter how well she’s doing . . . The habits she will adopt when the sun shines are . . . well they just won’t be the same, okay?