Nine Retail Tenets for 2013 by Denise Lee Yohn
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Nine Retail Tenets for 2013 by Denise Lee Yohn

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Take-aways from from NRF’s Retail BIG Show, January, 2013, including: ...

Take-aways from from NRF’s Retail BIG Show, January, 2013, including:
- showrooming must be embraced
- brick and mortar isn't dead
- organizational silos are hindering progress

Learn more: http://deniseleeyohn.com

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    Nine Retail Tenets for 2013 by Denise Lee Yohn Nine Retail Tenets for 2013 by Denise Lee Yohn Presentation Transcript

    • 19 Retail Tenetsfor 2013Take-Aways from NRF’s Retail BIG ShowJanuary, 2013New York City Retail Tenets for 2013 • by denise lee yohn
    • 21 Retail Tenets for 2013 • by denise lee yohn
    • 3 -- Sucharita Mulpuru, Vice President and Principal Analyst, Forrester Research According to Forrester Research, ◦ online has grown to 9% of In the digital retail sales and is projected to world, our brand can generate $327 billion in sales be much bigger than in 2016 our footprint. According to Shop.org, Wherever [our ◦ 270MM people shopped in customer] is, we’ll be 2012 holiday season there. – Thomas Belk, Chairman and ◦ 129MM shopped on Cyber CEO, Belk, Inc. Monday Retail Tenets for 2013 • by denise lee yohn
    • 42 Retail Tenets for 2013 • by denise lee yohn
    • 5 -- Jill Puleri, VP, Global Industry Leader - Retail, Global Business Services, IBM According to Whale  Forrester Research Shark Media, predicts ◦ there’s been a 51.9% ◦ the $5.5 billion spent in growth in time spent on retail mobile (media, CE, apparel) mobile commerce in 2012 to grow to $24.5 in 2017 Retail Tenets for 2013 • by denise lee yohn
    • 6Mobile is no longer justa channel. It’s not aone-way pipeline of Capability in newcontent to consumers – areas, particularlyit is an intrinsic part of mobile, is missionconsumer behavior.-- Susan Jurevics, SVP, Global Retail CRM critical. It can’t be anand Brand Marketing, Sony Corporation ofAmerica afterthought. We must invest in it to get ahead of the technology and the growth curve. – Howard Schultz, Chairman and CEO, Starbucks Corporation Retail Tenets for 2013 • by denise lee yohn
    • 73 Retail Tenets for 2013 • by denise lee yohn
    • 8 -- Joe Magnacca, President, Daily Living Products and Solutions, Walgreens According to Forrester Research, Showroomers don’t end ◦ 37% of smart phone owners at the sale – they’re plan to showroom more in the future active consumers. 58% visit online communities ◦ 47% of men aged 18-34 plan to show room more 1+/day and half write reviews (positive ones.) ◦ so, you need to have a price They’re not your enemy. matching strategy -- Jill Puleri, VP, Global Industry Leader - Retail, Global Business Services, IBM ◦ and we will see more UPP (unilateral pricing policies) Retail Tenets for 2013 • by denise lee yohn
    • 94 Retail Tenets for 2013 • by denise lee yohn
    • 10CEOs are pushing forcompany-wide digitalstrategy, but digital Channel blur:departments still often Consumers are goingoperate to force you to matchindependently. prices online. Online-- Vicki Cantrell, Shop.org ExecutiveDirector and NRF Senior Vice President of and in-storeCommunities merchandising groups are going to have to talk, compare notes, require coordination. – Cotter Cunningham, CEO, WhaleShark Media Retail Tenets for 2013 • by denise lee yohn
    • 115 Retail Tenets for 2013 • by denise lee yohn
    • 12 -- Kip Tindell, Chairman & CEO, The Container StoreThe world needs a lotof care andcompassion and This [retail] industry isbusiness is singularly the greatest engine ofpositioned to deliver growth in the U.S.on that. today. We offer– Walter Robb, Co-Chief ExecutiveOfficer, Whole Foods hope, opportunity, and career progression. – Bill Simon, CEO, Walmart Retail Tenets for 2013 • by denise lee yohn
    • 13 -- Walter Robb, Co-Chief Executive Officer, Whole FoodsRetailers shouldn’t justproduce for the middleand upper classes; If we’re waiting on“the third world is government, we’rewaiting for retail.” waiting on a process– Kofi Annan, Former Secretary-General ofthe United Nations that can’t act with the same speed as business. – Bill Simon, CEO, Walmart Retail Tenets for 2013 • by denise lee yohn
    • 146 Retail Tenets for 2013 • by denise lee yohn
    • 15 --Tom Feltenstein, CEO/Founder of Tom Feltensteins Power Marketing AcademyIf content isking, culture ischeckmate – you need Think of labor not as athe right people within unit cost, but as trulythe company on the the heart and soul ofbus. business.– Eric Qualman, author of Socialnomics – Walter Robb, Co-Chief Executive Officer, Whole Foods Retail Tenets for 2013 • by denise lee yohn
    • 16Excellence istremendous amount offun; mediocrity is not. The most importantPeople really want to brand building tool ofwork with great people all is the ability toand achieve great inspire our people –things. not only about what-- Kip Tindell, Chairman & CEO, The we’re doing butContainer Store why, and getting them to exceed expectations in way that’s authentic and real. – Howard Schultz, Chairman and CEO, Starbucks Corporation Retail Tenets for 2013 • by denise lee yohn
    • 177 Retail Tenets for 2013 • by denise lee yohn
    • 18“The market” is morethan the consumer – it Shared Conversationincludes concept: Theemployees, customers conversation is owned, distributors, etc. All byvote and shape our consumers, peers, retailbrand everyday. This ers, and countlessrequires new ways of influencers, bloggers, stworking together ylists, media critics andagainst shared value. more.– Allison Lewis, Senior Vice -- Susan Jurevics, SVP, Global Retail CRMPresident, Marketing, North America and Brand Marketing, Sony Corporation ofDivision, The Coca-Cola Company America Retail Tenets for 2013 • by denise lee yohn
    • 19 The opportunity is to become more of who are you and realizeWhen you operate with your full potential.this stakeholder Many businesses aren’tview, the universe exploring the fullconspires to assist you. potential of their-- Kip Tindell, Chairman & CEO, The connections withContainer Store stakeholders. – Walter Robb, Co-Chief Executive Officer, Whole Foods Retail Tenets for 2013 • by denise lee yohn
    • 208 Retail Tenets for 2013 • by denise lee yohn
    • 21Relentless innovation will continue:flash sales  daily deals  subscriptions curated commerce / distributedcommerce / crowdsourcing commerce-- Sucharita Mulpuru, Vice President and Principal Analyst, Forrester Research Any business that embraces business as status quo…is literally facing a collision course with time. – Howard Schultz, Chairman and CEO, Starbucks Corporation Retail Tenets for 2013 • by denise lee yohn
    • 22Capitalismre-imagined: It has never been moreReimagine what is important to push forpossible with business. innovation at everyThere is nothing more level – we must dopowerful than the everything to push forimagination and selfcreativity of individual renewal, reinvention, ateam members. new level of surprise– Walter Robb, Co-Chief Executive and delight with ourOfficer, Whole Foods customers. – Howard Schultz, Chairman and CEO, Starbucks Corporation Retail Tenets for 2013 • by denise lee yohn
    • 239 Retail Tenets for 2013 • by denise lee yohn
    • 24 – Walter Robb, Co-Chief Executive Officer, Whole FoodsPhysical retail still has alot of promising storiesthat will continue to Your customergrow and drive industry engagements will bein the future. your “30-second-- Sucharita Mulpuru, Vice President andPrincipal Analyst, Forrester Research spots.” --Tom Feltenstein, CEO/Founder of Tom Feltensteins Power Marketing Academy Retail Tenets for 2013 • by denise lee yohn
    • 25more on retail: the retail organization of the future six best practices in retail brand experience briefs (video briefings on new and interesting restaurant and retail concepts) build your brand with a cohesive customer experience denise lee yohn http://deniseleeyohn.com @deniseleeyohn Retail Tenets for 2013 • by denise lee yohn