3 Retail Experts Worth Reading
In any industry there are thought leaders, futurists and experts but working out who is worth listening to can be difficult. Here are 3 experts who have spent years developing their knowledge of retail.
This is the RCS list of Retail Experts worth taking the time to read.
The Retail Champion – Clare Rayner
“Clare Rayner, The Retail Champion, is a business owner, retail expert, consumer champion, high street campaigner and micro business backer. She is also a published author, much sought-after professional speaker and regular contributor to a wide variety of broadcast and print media.” About Page, Retail Champion.
Notable article: Price, Promotions and Positioning…
This is a 3 part series Clare Rayner wrote on retail pricing. In the blog series she covers a fundamental element of retail – pricing and positioning – as well as tactics you can use to increase profit margin by using a product ladder and price elasticity.
Here are the 3 articles:
- Price, Promotions and Positioning…
- Why your retail business needs a price ladder…
- The benefit of understanding price elasticity…
Go, read the articles, implement the tactics and see if you can increase your profit.
The Retail Prophet – Doug Stephens
“Doug Stephens is one of the world’s foremost retail industry futurists. His intellectual work and thinking have influenced many of the world’s best-known retailers, agencies and brands including Walmart, Home Depot, Disney, BMW, Citibank, eBay, Intel and WestJet.
Prior to founding Retail Prophet, Doug spent over 20 years in the retail industry, holding senior international roles including the leadership of one of New York City’s most historic retail chains.” – About Page, Retail Prophet.
Notable Article: There’s No Such Thing As A Digital Experience
Doug Stephens puts forward a compelling argument why retailers need to forget creating a “digital experience” for their customers. He maintains you should create “unique, memorable, valuable experiences”; yes some experiences will include digital technology but that isn’t the initial focus.
“When you drive your car to work are you enjoying a combustion engine propulsion experience or simply driving your car? When you do your laundry are you reveling in a hydroelectrically agitated emulsification experience or simply cleaning your clothes? When you watch TV, is that a light emitting diode transmission experience or just entertainment? Posed this way, these questions seem clearly rhetorical. It’s pretty obvious in each case that technology is not the experience but merely the platform upon which the experience is delivered. In other words, these are not “technological” experiences. They are simply experiences that incorporate technology.”
Start with the story first and only then consider what technology, structure, effect and cast members will be needed to provide the best experience.
The Retail Doctor – Bob Phibbs
“Bob Phibbs, The Retail Doctor, is a nationally recognized business strategist, customer service expert, sales coach, marketing mentor, retail author, and motivational business speaker. ” About Page, Retail Doctor
Notable Article: 8 Tips To Grow Your Holiday Retail Sales The Week After Christmas
The article we think you should read from The Retail Doctor is this one about growing your retail sales the week after Christmas. The advice Bob Phibbs gives here is especially useful at this time of year as you can be ready to implement the tactics as soon as Christmas Eve comes around.
“After Christmas sales can be the difference between a profitable holiday season for retailers and a bust.” – Bob Phibbs
So make sure Christmas is profitable for you.
You’ll learn 8 easy to implement strategies that include which types of merchandise to put on sale and how to get customers in the door, then what to do to minimise returns and increase purchases.
Future Retail Experts
Which article would you have included from one of the above experts?
Also, who should we consider for future additions to this list? If there is someone you’re particularly fond of then let the RCS team know in the comments below.