Retail Strategy in the Digital Age

After twenty years focused on retail strategy, I took a two-year hiatus in an attempt to make my Internet riches with a software start-up. When I returned to consulting in late 2012 (alas, sans riches), I returned to a significantly changed retail landscape. The Internet was certainly important in 2010, but not nearly as integral. Well into the late ‘00s, stores always mattered more. Today, few retail decisions are made without consideration of digital. And for most retailers, digital is their fastest growing and most profitable channel, for both marketing and transactions.

Digital has altered both supply and demand Continue reading “Retail Strategy in the Digital Age”

Dig Out of the Promotion Trap

Promotions offering discounted prices have always been a prominent feature of U.S. retail, but they’ve become significantly more so since the recession melted away demand and technology reduced to near-zero the cost of targeted communications. An unintended consequence for many retailers is that their customers now expect discounts; ticket prices lack credibility; and discounting becomes the only way to move merchandise.

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