Briefly Retail - Issue 2017 - 13

Creative Problem Solving

Last week, Macy’s reported another sales decline (their 10th consecutive quarter) and their share price plummeted 10%.  Additionally, last week J. C. Penney shares hit their lowest price in a decade, falling 16% after the company said its profit margins had softened more than expected.  Kohl’s, another department store behemoth, also fell last week after their earnings report.

If Wall Street results mean anything, it is becoming apparent that the reinvention of an aging business model is perhaps more difficult (and expensive) than it may seem.  And it’s quite possible that it won’t even work.  Read More…

Briefly Retail - Issue 2017 - 12 →

Diving into the Deep End

ERP solution deployments are a bit like extreme cliff diving.  In both disciplines, success is best achieved through pro-active research, careful planning, relentless training and flawless execution.  They are also similar in that one relatively small mistake in any one of these areas can have disastrous results.  To understand why, it is important to recognize that the very nature of ERP deployments has changed over the past several years.  These changes have served to mitigate or even eliminate some risks, but they have also accentuated others.  Read More…

Briefly Retail - Issue 2017 - 11 →

Go Big or Go Home

At first glance, Amazon’s purchase of Whole Foods doesn’t appear to hold much merit.  Whole Foods has been struggling for some time now with a high-priced business model focused on a limited selection of trendy offerings targeted towards a highly impressionable customer base who up until now has been content to pay a premium for the privilege.  Read More…

Briefly Retail - Issue 2017 - 10 →

Following the Money

Be careful about a retail strategy focused on following the money.  You might just end up alienating the very customers who got you to where you are today…and that may not be the bed of roses you had hoped it would be.  Read More…

Briefly Retail - Issue 2017 - 9 →

Hidden Gems

Traditionally, most retailers have limited their deployment of personalization in marketing and interactive online selling to data or “attributes” that they specifically associate with a product.  According to Nikki Baird, managing partner at Retail Systems Research, at its least sophisticated, personalization is basically just a difference engine – 72% of people who viewed this product also viewed these other 3 products, so it will show you these other 3 products too.

Read More…