Quarterly NewsletterSpring 2013
Bullish about 2013.
As we slowly come out of a sluggish retail market, I am impressed at how many interesting and exciting projects retailers are starting. At Parker Avery, we have clients working on organizational structure, merchandising processes, allocation capabilities, global sourcing improvements, product line architecture shifts, pricing policies and tools, promotion capabilities, retail analytics, order management, fulfillment optimization, omnichannel strategy, retail operations, store performance analysis and a number of other domain-intensive challenges. The past 6 months have been quite a ride. And I think we're just pulling out of the station.
I've said it before and we included this point in one of our recent research studies: "Do something authentic and important." Carefully think about your options and maybe take a more measured approach than you would have 5 years ago to executing change. But the race has started, and I hope you're in it. If you're not sure what to do or how to begin, give me a call and we'll compare notes. My guess is that you've got some great ideas and now it's all about getting it done.
On a separate note, we're about to launch our next research study, and I hope you'll take a few minutes to participate in the brief survey. We're researching the connection of 'big data' with merchandising and product development. We know there is a large push towards using all the data available to retailers, but our research should help you think about how to use it to drive margins and top line sales.
As usual, I hope this note finds you well, and if you are considering a new initiative or just want to connect, don't hesitate to call.
Founder and CEO, The Parker Avery Group
New Points of View
The Customer Experience:
Dispelling the Myths in Today's Retail Environment
The customer experience rules of the past are now the myths that are suppressing retailers from remaining relevant in the customer's eyes...
Customer Satisfaction vs. Store Sales:
Creating Efficient and Effective Inventory Assortment
It is imperative that a retailer understands its customers' wants and needs. A customer-centric approach utilizing this knowledge...
The Layaway Challenge:
Optimizing Layaway Programs to Benefit the Retailer's Bottom Line
Does layaway benefit my bottom line? This question can be answered by first analyzing the behaviors of the typical layaway customer...
We recently sponsored the University of Arizona Global Retailing Conference held in Phoenix. This was a great event attended by Bridgestone/Firestone, Collective Brands, Dick's Sporting Goods, The Gap, The Home Depot, JCPenney, Kohl's, Macy's, PetSmart, REI, The TJX Companies, Walgreen's, Walmart and others. If you weren't able to attend, we'd love to share some of our insights.
• Grown Up Digital: How the Net Generation is Changing Your World (Non-Fiction, Digital Culture)
• Predictive Analytics: The Power to Predict Who Will Click, Buy, Lie, or Die (Non-Fiction, Professional & Technical)
• Rich's: A Southern Institution (Landmark Department Stores) (Non-Fiction, Business History)
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