The obvious thing to dwell on this week is the slightly worrying figures announced recently by some of our better known retailers, and the BRC. Followed by a depressing forecast that our sector is doomed, either people have stopped spending money due to fear of unemployment and economic armageddon or the Internet revolution has finally resulted in consumers spending 100% of their disposable income online. Fear not, I have a much more philosophical and positive spin which might act as a bit of an antidote to constant media negativity (which I suppose is what you would expect).
Actually I can't lay claim to this particular view as it came from a far smarter colleague of mine. We are unquestionably witnessing a fundamental shift in the way consumers spend their money. Online is increasingly the platform of choice for extracting diminishing cash and consumers are increasingly savvy about price (and who pays full price for anything these days?) Loyalty, driven by service, quality product, highly targeted offers (through social media platforms for example) and price is crucial. So are retailers, and consequently their landlords doomed...? Clearly not. But any form of change requires adaptability. Those most able to adapt will, and indeed grow if they can exploit those opportunities presented to them.
Darwin got it, will our industry? Only time will tell.
Actually I can't lay claim to this particular view as it came from a far smarter colleague of mine. We are unquestionably witnessing a fundamental shift in the way consumers spend their money. Online is increasingly the platform of choice for extracting diminishing cash and consumers are increasingly savvy about price (and who pays full price for anything these days?) Loyalty, driven by service, quality product, highly targeted offers (through social media platforms for example) and price is crucial. So are retailers, and consequently their landlords doomed...? Clearly not. But any form of change requires adaptability. Those most able to adapt will, and indeed grow if they can exploit those opportunities presented to them.
Darwin got it, will our industry? Only time will tell.
