
|
|
| Bricks & mortar not dead yet |
| Bernie Brookes: "the most cautious consumer we have seen in decades". |
Posted Date: 29/08/2011
Myer CEO Bernie Brookes and The Retail Doctor Group's founder Brian Walker say while the retail market may be filled with uncertainty and worried consumers, there are ways to thrive and survive.
“You have to re-wire the house,” Walker told a breakfast seminar in Sydney. “A fit retailer is one who recognises he has to aggregate his customer channels and market across them all to engage with the customer. He can no longer ignore the power of the internet retail channel or for that matter the social media channel.”
Indeed, as Walker pointed out during his presentation if Facebook was a nation, it would be the third largest in the world between the US and India.
“Communication across these multiple channels brings the retailer offer to the customer rather than relying on the old method of bringing the customer to the point of purchase,” continued Walker.
"This is the shift in paradigm that needs to occur to be a successful retailer. The point of sale is as much in a customer’s living room as it is in bricks and mortar stores.”
Bernie Brookes agreed, saying retailers today faced the challenge of managing "the most cautious consumer we have seen in decades".
Brookes gave the room full of retailers advice on how to compete in this retail landscape and addressed the opportunities available to them. Attracting more customers, sell more to existing customers and cross penetration through stores were key.
Walker also spoke of the necessity to target customers correctly as well as understand individual and community behaviour. He revealed insights from recent research Retail Doctor Group conducted with global Ebeltoft Group partners, proving that targeting customers on demographics alone is no longer enough.
“We have to reach out to the hearts and minds of consumers, and we need to know more about their personalities and wishes to be able to do this effectively.”
Both Walker and Brookes were adamant the physical store space is not dead. Brookes said just two of the largest 20 internet retailers in the US are purely on-line businesses. The rest are bricks and mortar who have embraced the change in paradigm and understand the big picture of bringing the point of sale to the consumer and their communities.
Bernie Brookes and Retail Doctor Group will be repeating the breakfast presentation in Melbourne on 8 September at The Crown Towers. For more details and to register for this event, visit www.retaildoctor.com.au/events .
|
Thursday, September 01, 2011 by Dan
I'd invite arm chair critics to actually come along to the Melbourne breakfast and hear what Bernie Brookes actually has to say.
Relatively free of jargon Bernie's astute innovations at Myer have been sourced from contemporary expertise around the world and are rivaled by few (except perhaps Macy's) in terms of success. Many principles are transferable to smaller retailers and I suspect Bernie prides himself on being a 'coal face' kind of CEO.
http://www.retaildoctor.com.au/events/details/42-fit-for-business-breakfast.html
Wednesday, August 31, 2011 by Louise Davis
This breakfast event is held in response to the very need and frustration that Jim mentions here and that many retailers are also experiencing. - The need for practical implementation solutions on how to face the challenges in the current and future retail marketplace.
Bernie Brookes was chosen as the retailer to present at this event as he really is one successful retailer who is, as he proved in his presentation, very much in touch with the shop floor. Bernie provided many practical examples of what Myer has done to improve their business from a tough position. I for one, believe that Bernie is a great example of a merchant as opposed to just a corporate leader.
The feedback we have received from attendees has shown that there was much to be learnt from this event. I welcome you to contact me to discuss further.
Louise Davis
Marketing Manager
Retail Doctor Group
louise@retaildoctor.com.au
Wednesday, August 31, 2011 by Greg
This is an incredibly complex problem and we are still in the early days of understanding. I am desperate to find a path forward but the path hasn't been cleared. I value all the opinions expressed at breakfast seminars and on sites like this. However, I am not convinced that our valuable consumers are any clearer than we are as they grapple with a complete reassessment of their decision making. Do they remedy debt before purchasing? Do they embrace new technologies? Do they really need anymore of this consumer stuff anyway?
As a retailer, I am getting my operation in order - policing price movements, online and offline, to ensure I remain competitive - actively engaging my customers at every opportunity - standardising my offer at my physical store and online so that "multi-channel" becomes a transparent reality - testing the water in social networking - and waiting for that tap on the shoulder that says "this is the way to go".
Tuesday, August 30, 2011 by Wayne
Bricks and mortar retail is not dead, for some; those who survive the current downturn will be in a better position than now for a few more years to come, but for them to be there others need to fall by the wayside. As the internet savvy consummer grows older and advances in communication technology increases, the need for bricks and mortar retail will decrease, only the large retail groups with massive financial backing or the risk adverse entreprenurial retailer will survive, for most in retail today they will be doing something different in the years to come. Those spruiking the need for change to survive, perhaps they have a vested interest! their own survival
Tuesday, August 30, 2011 by Linda
It can't be said that customer service, price and range are the things to blame for the current B&M retail struggle. I know many a store with fabulous service and they are struggling like the rest.
What I have to ask, is who really knows what the problem is, who knows how to fix it. I haven't seen anybody who actually does yet, and it has been a very very long haul so far.
Tuesday, August 30, 2011 by Barry
It could all be said in two words. Customer Service.
Tuesday, August 30, 2011 by Mark Schroeder
Whilst I don't think one can expect a hands-on 'how to do modern retailing and win' seminar in a brief write-up about a brekky chat, the previous posters are representative of the frustration being expressed by many small retailers (whose wallets it's safe to assume are more closely related to the bottom line than that of Bernie Brookes). Great opportunity for a cluey consultant like Brian to create practical tools and assistance for SMB retailers. Less of the Doctor, more of the coal face operator!
Tuesday, August 30, 2011 by Paul
Attract more customers, sell more to customers! I have to agree with Jim, these are hardly pearls of retail wisdom. And yet again the tired old statistic of 'Facebook as a country' is rolled out. It would be nice if just once someone would actually talk about what this practically means for retailers. The reason bricks and mortar is dying at the top end of town is quite simple - the service is completely rubbish, the range usually lacking and let's not get started on the price.
Tuesday, August 30, 2011 by Jim
The retail sector is struggling, they have had their say, everybody knows what is happening, yet these supposed leaders just want to go to another free breakfast joll to say it again!! Come on guys get real & get to the coal face & stop repeating youselves , suggest solutions,( I say suggest tongue in cheek !!) stop just reminding us all what the problems are , you may be business leaders in your own right but that does not give you a monopoly on repetiive CRAP !!
Previously known as the corporate crap brigade many of these so called corporate leaders enjoy the benefits of their exhaulted positions & are out of touch with the shop floor and the multitude of difficulties their line managers face on a daily basis ( No I am not a bitter line manager either!)
Please note: all comments are subject to moderation for legal reasons and to prevent spam. We'll approve your comment as quickly as we can. If you don't see it appear you do not need to repost it.
| Related news |
| |
|
|
|
 |
Myer lifts sales Department store sees slight growth in sales, but remains cautious about the future for the retail industry. |
|
|
|
| |
|
|
| Editors Picks |
| |
|
|
Visual spectacularFirst impressions can be lasting, and quality VM can say volumes about a retail store before a cu... |
The new luxuryBaffled by fashion? French fashion consultant Jean Jacques Picart can simplify it for you. |
Giving backWhile some department stores are struggling, Britain's John Lewis is an example of one getting it... |
The perfect stormRetailers will face further pain as the impact of global fast fashion giants entering the Austral... |
|
|
| |
 |