Retail Marketing Strategy: Delivering Shopper Delight 1st Edition

Very well argumented review on several important aspects of the theory and practice of retail. A excellent combination of theoretical and personal experience views on: focus on shopper; knowledge of the clients; data-driven decisions; in-store experience; assortment and category managements and others.

One of my favorite, don't-miss TV shows is "Bar Rescue," currently airing on the Spike channel on Sunday nights. That's not because I want to see feisty host and bar turnaround expert Jon Taffer get into shouting matches with the owners of the bars he's trying to rehabilitate (although I admit that makes it more fun), but rather because I'm interested in learning the whys of the business - or what Taffer calls the "science" behind the changes he advises. Although I've never been employed specifically in marketing, I've been involved to varying degrees in just about every job I've ever had - and I love to learn about human behavior, particularly as it relates to advertising and sales.That's why this book caught my eye, and I thank the publisher, through NetGalley, for the opportunity to read it in exchange for a review. Given all the changes that cut through retail sectors today - mostly as a result of the Internet and social media, the author - a consultant in the areas of retail marketing and shopper insights - maintains that retailers must adopt multi-channel customer-driven strategies if they are to survive. Then, he tells them how to do just that, using plenty of examples backed up by in-depth research.I will note a couple of things up front: First, the lion's share of the examples are based on companies outside the United States, and second, most involve the grocery sector - the author's special area of expertise. That said (actually, he said it too), the data can be applied to other retail environments and, for the most part, American businesses. No matter where they're based, retailers today need a better understanding of shoppers and must engage both their rational and emotional sides, the author says - but the ultimate goal is shopper happiness, accomplishing that while operating in several channels at the same time. Not an easy feat to be sure.Mountains of data on shopper behavior is available (or can be), but retailers aren't necessarily utilizing it all that well. And, some of the commonly used data - like socio-demographics - isn't always reliable. I loved the author's example of two men, both born in 1948 in England, both married twice with kids and in high income brackets. It's easy to conclude, then, that their preferences in lifestyle, food and clothing would be similar - that is, until you learn that one is Prince Charles and the other is Ozzy Osbourne. Hmmmm - I'll take a wild guess and say they're not likely to shop for underwear at the same store. More to the point, a one-size-fits-all marketing approach to eliciting their happiness is beyond useless.Chapters zero in on a variety of topics, such as private-label brands, self-scanning, loyalty cards, in-store scents and, the one that interests me most, music. Music has direct impact on revenue, shopping behavior, staff morale and brand image, the author notes, but emphasizes that choosing the RIGHT music is an art (especially given that it involves not only genre, but tempo, pitch and volume). Each chapter concludes with two key questions: What can you do to make your shoppers happy?, and, Which marketing strategies can retailers apply? Those answers are followed by extensive lists of references (a.k.a., source material). This is, IMHO, a scholarly work that certainly could serve as a textbook in a college retail marketing course; but it's very easy to read and packed with information that's bound to be helpful to anyone with an interest in retail marketing.

Many top retail brands understand their customers better by using many factors such as customer insights, which allows them to set a direct, focussed strategy and deliver a unified experience. Far too many don’t get it, yet this book aims to convert a few more companies to the right way of doing things.Built around five key areas – in-store execution, organizational development, fact-driven decision making, multi-channel operations and understanding customers – the book provides quality, actionable advice to creating and executing new strategies to boost customer interaction, sales engagement and intelligence-driven marketing activities. It is not limited to just retailers, manufacturers also can get a greater understanding of the entire process to make their products and packaging even more attractive and desirable; it will also assist the retail sales process.The amount of detail and information offered up can feel overwhelming, but the author does a good job in corralling everything together and providing an authoritative, focussed, engaging read.The pieces need to be put together and a little thought given to the entire process. There are so many examples to choose from to highlight just how incisive the author is, yet choosing one is difficult. For example, the author writes: “The amazing paradox in retail is that retailers sit on mountains of data but are not inclined to process the data into meaningful information. I do not want to say that decisions based on intuition are always wrong, on the contrary, but what is wrong is not using available data in order to make a better decision for the retail organization and for the shopper. The department stores, fashion stores and garden centres that buy on the basis of what they feel is the trend are outpaced by retailers that have invented systems that allow them to trial and scale supply of fashionable items. Zara is a great example of how a retailer decides both intuitively and based on facts: the designers at Zara have the authority to order the production of a new range of clothing after observing trends at a fashion show, but production is only scaled up if the sales in the first weeks are good.”Reading through the book, you are treated to a wealth of interesting market research statistics and facts, some of them may be quite shocking or eye opening. It really underlines what mammoth job larger retail outlets can face, yet it can stress how beneficial a more focussed approach might be to the business. Maybe even customers will be happier and thank you, perhaps rewarding you with increased expenditure and/or greater loyalty to your brand or outlet.So to conclude: an excellent book that provides a lot of fascinating, engaging information at a very low price point. Highly recommended for those who need this sort of information and for those who don’t, it still can be a great read for the generalist.