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?”
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.
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.
As humans, we instinctively shy away from people we don’t know and we stay clear of pretty much any socially awkward situations. It’s ingrained in us not to approach strangers, but “approaching strangers” is at the very core of the job description for anyone on the retail floor.
I haven’t been at office much lately. No, I’m not sick and I’m not getting lazy. I’ve been on the road engaging with retail IT resellers and ISVs at a variety of events – and gathering quite a bit of intel about the POS channel. Let’s look at some lessons learned from the trips I took during March.
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.
It still shocks me how many leaders feel they’ve more than just earned their positions. They believe they deserve their positions. They believe their teams work for them. They represent the old pyramid style of leadership structure. Someone forgot to tell them them times have changed.
Retailers can never afford to be complacent. However, Amazon is not the only model of success. The rest of retail would do well to study the critical success factors of those who are thriving today in spite of Amazon's growth.
Across most of this country (Canada, that is) and many parts of the world, minimum wage rates are going up drastically; in many places by as much as 30%. That’s a big chunk out of anyone’s bottom line. Here are 6 solutions you can consider adopting to combat rising minimum wages.