strategic insights€¦ · strategic insights on planning and execution pl monthly digest with a...
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The PL Directorate is dedicated to researching industry trends in order to report possible strategic options to assist in the continued growth of the Exchange. This digest contains recent articles on strategy, retail trends, and leadership.
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Consumer Survey Shows Preference for In-Store ShoppingJim Prewitt, vice president of retail industry strategy at JDA, said a recent survey “highlights the changing role of retail stores. While there has been speculation of a ‘retail apocalypse,’ that doesn’t seem to hold true for consumers. SA: MD, PL, IT, BD
Strategy News
The Most Valuable Brands in the World Are...Apart from Amazon, only two U.S. retailers cracked the global top 25. Starbucks ranked No. 22, and The Home Depot came in at No. 24. Walmart ranked No. 31. SA: MD, PL, BD, eCom, Regions
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Mastering the Digital Advantage in Transforming Customer Experience Digital services and operations are raising the competitive bar in every sector. To capture theopportunity, incumbents should embrace a new operating model that dramatically improves the digital customer experience. SA: MD, PL, eCOM, BD, Regions
Issue 8: August 2017
Retailers’ Efforts to Lure Shoppers to Stores Missing the Mark
STRATEGIC INSIGHTSON PLANNING AND EXECUTIONPL Monthly Digest
With a few exceptions, most American retailers today are “incredibly bad” at offering a good in-store experience. SA: MD, PL, BD, Regions
Top 100 Retailers The dot-com boom launched 20 years ago, ushering in a new era of retailing, and 2017 is the year that acknowledges the future has arrived. Store-based sales still overwhelm e-commerce, but the scales are tipping — not that the impact is readily noticeable in STORES Magazine’s annual list of the Top 100 retailers. SA: MD, PL, BD, eCom, Regions
“TJX Chief Executive Ernie Her-rman sees opportunities, not threats. On an earnings call lastmonth, he said a ‘disruption’ in retailing is creating aglut of merchandise that TJX is scooping up at bargain prices. Products become available when department stores cancel orders or when companies manufacture too many items. Many big brands also make some merchandise for TJX,typically by recycling past sea-sons’ best-sellers.” How to Survive the Retail Crisis: A Master Class from T.J. Maxx
“Rampant discounts and promotions, which Tar-get says have diminished customers’ trust inretailers, will be kept to a min-imum with the new brands. Thanks to better lighting and more mannequins,displays will resemble a boutique in a mall more than a big-box chain. New racks and shelves will allowfor cross-merchandis-ing, like displaying shoes alongside dresses.” Target Rejiggers Brands to Lure Shoppers
Target Rejiggers Brands to Lure ShoppersRetailing giant Target is closing some stalwart lines and creating niche labels to draw shoppers seeking something special. SA: EG, MD, BD, PL, eCOM, Regions
Retail Trends
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While e-commerce giants like Amazon, Walmart, and eBay have used these capabilities behind the scenes for years, e-commerce entrepreneurs can now do the same. Algorithmic technology and AI can be incredibly helpful tools to grow sales and optimize various aspects of ecommerce operation, from pricing to demand planning. SA: MD, PL, BD, eCOM, Regions
Three Ways AI Is Already Impacting Ecommerce
JCPenney Tries to Capture Best of Kohl’s in New Loyalty ProgramJCPenney is unveiling a new loyalty program that lets Sephora customers double-dipon rewards and allows earned points to roll over from month to month. SA: MD, PL, BD, eCOM, Regions
How Walmart Uses AI to Serve 140 Million Customers a WeekWalmart is in a unique position to build a bridge between its e-commerce operations andits global network of stores. That means deploying the kind of machine learning that canleverage a strength Walmart has been building for some time: the digital relationship be-tween its customers’ online experience with the experience of shopping in malls. SA: MD, PL, BD, eCOM, IT, Regions
Traditional retailers are in crisis, damaged by rapidly shifting consumer tastes, technological change and cut-throat price competition. And then there’s TJX Companies, which is defying gravity with the simple idea that under the right circumstances people still like to shop in stores. SA: MD, PL, BD, eCOM, Regions
How to Survive the Retail Crisis: A Master Class
Leadership News
“We need teams composed of individuals who are able to make quick decisions on how to respond to what comes their way, who are able to use their good judgment to solve prob-lems, who coordinatetheir efforts with each other, and who come up with fresh new ideas.”Why Team Alignment Is Overrated
“Leadership is the ability to not only understand and utilize your innate talents, but to also effectively lever-age the natural strengths of your team to accomplish the mission. There is no one-size-fits-all approach, answer, key or formula to leadership.”The Qualities of a Strong Leader
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The Qualities of a Strong LeaderThe road to becoming a strong leader involves being humble, continuing to learn and acceptingmistakes as opportunities to grow, writes Naphtali Hoff. “Hold to your vision and your dreams, even when it seems they have dimmed.” SA: All
You Have to Want to Be a Better LeaderLeadership skills are gained through practice, mindfulness and intentional learning, writes Mary Jo Asmus. Setting specific goals for personal development and gauging the effectiveness of behavior through careful observation and feedback can go a long way toward becoming a good leader. SA: All
How to Improve Your Vibe and Flourish as a Leader The words and tone you use, as well as your body language, communicate how you’re feeling and your attitude toward people and work. SA: All
Why Team Alignment Is OverratedTeam alignment is a popular concept but can create an environment in which creativity anddifferences are stifled for the sake of uniformity. SA: All
How to Survive the Retail Crisis: A Master Class