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How “Less is More” when competing with Amazon

submitted by Chris Petersen

The historical premise of retail was "more is better". However, science shows that too many choices overwhelms our brain; we get frustrated and cannot decide. Retailers curating choices can achieve more sales.

The question for today’s retailers: What business are you in?

submitted by Chris Petersen

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".

Are Amazon online cost advantages eroding?

submitted by Chris Petersen

While pure ecommerce has consistently achieved double-digit growth, trends indicate that historical ecommerce cost advantages are eroding. Today’s hybrid “phygital” retail models can compete if they also meet customer expectations.

Lessons in “Goodwill” and the power of people

submitted by Chris Petersen

Goodwill is more than intent. Goodwill is an outcome of a culture focused on benevolence and support. Goodwill is the foundation of customer experience that affects satisfaction, loyalty and ultimately revenue.

How small retailers can thrive in a world of retail giants

submitted by Chris Petersen

When you don't have the resources or infrastructure, the best way to compete with Amazon is do something different. Some of the smallest retailers are deploying strategies that other retailers can leverage for differentiation.

The secret sauce for increasing store conversion – ASK

submitted by Chris Petersen

All too often senior management view staff as a "cost center" instead of an asset. Investing in store managers can pay many dividends in a store's financial success, as well as making stores stand out with customers.

Symbiotic partnerships for survival in an Amazonian world

submitted by Chris Petersen

A couple decades ago, retail was literally a standalone business. Few retailers today have the resources to compete head to head with Amazon. In order to remain relevant, retailers are collaborating with new partners.

5 Retail lessons learned from the upcoming lingerie wars

submitted by Chris Petersen

NO one is safe or immune from retail transformation. Customer decide what, when and where, not the retailers. The retailers who will thrive are the ones who seek out trends and quickly adapt to stay relevant.

Do customers want help from associates or technology?

submitted by Chris Petersen

Today's retailers walk a tightrope of defending yesterday's strengths versus innovating for tomorrow. Future success lies in finding ways to be increasing relevant for consumers who have become channel agnostic.

The horse you rode in on will not win the race for the future

submitted by Chris Petersen

A product centric heritage has perpetuated a focus on purchases. Winning is no longer just about the sale today, but how to reduce the overall customer effort and making it easy to do business across time and place.