Retailers in decline tend to define themselves in terms of what they sell. Leading innovators define their business "they are in" as how to best serve customers. Trends indicate that the future of retail is in "the people business".
We all know that “culture eats strategy for breakfast” (thank you, Peter Drucker), but how exactly are you supposed to build the right environment? I received the following culture-related email from a retail IT industry executive and wanted to share my answer to him with you.
This past week had the pleasure of visiting the new Zara Concept Store in Milan, Italy. Located near to the Galleria Vittorio Emanuele II, one of the oldest retail malls in the world, this Inditex owned location is the perfect bridge to the future of retail. Simplicity meets digital innovation.
There’s no doubt that the growing popularity of e-learning has made it easier for retailers to deliver consistent, cost-effective training to the masses. A positive step for retailers, but it does beg the question, “Have you lost the human touch when it comes to training your frontline teams?”
The US retail sector has already adopted a number of new initiatives from the UK: a rise in private label products, ‘free from’, and increased transparency in product marketing to name a few. Kieran tells us about the pledges CEOs are making across the pond to shape the new face of retail.
I have to be honest; I don’t like looking inside myself. Being introspective can be a very scary thing. It’s much easier to play the blame game; blame my team, blame my boss, my co-workers, other departments. There’s no shortage of people or things to blame if you really want to.
I was speaking to a group about leadership and one of the characteristics we focused on was Enthusiasm. I'm not talking about running into the office or your stores and high-fiving everyone, every day. I'm talking about the type of enthusiasm that inspires people to want to achieve their goals.
The world as we know it for brick and mortar retailers has forever changed. The question is, “how many will change with it … and change fast enough to survive?”