Quarterly NewsletterSummer 2016
Many of you who know me are probably familiar with the fact that I do a fair amount of running. I also have quite a few colleagues and friends who run and frequently participate in road races. Most competitive runners typically follow some type of training plan to condition their bodies in the weeks leading up to a race; professional athletes and coaches with many years of experience design these plans, and runners who use them trust them. With the spring race season ending, the words "trust your training" echo in my head, and the attribute of trust has been high on my mind.
The very definition of the word trust: "a firm belief in the reliability, truth, ability, or strength of someone or something," holds broad and deep implications for retailers and brands to deliver on customer and employee expectations. It can also be very fleeting if not carefully nurtured.
We all know how difficult it can be to not just establish trust, but to maintain it over time. Most retailers have the admirable objective of making shoppers such loyal fans of their products and brand that they are not easily swayed to pursue a competitor's attractive price promotion. Great importance is placed on continually delighting customers through delivery of desirable products, competitive prices, exceptional service and unique experiences - both digitally and in physical stores. This focus is critical because the time it takes to lose a customer's trust can be unbelievably quick - a single bad decision or poor interaction can have severely negative impacts on that trust you worked so painstakingly to achieve.
Even within Parker Avery's own business of providing strategic advice and assistance to support our clients' initiatives, our firm is frequently referred to as "trusted advisor" - a title that we do not take lightly. We focus on building and maintaining trust by genuinely listening to our client's needs and challenges and offering innovative, pragmatic process and technology solutions across a broad array of strategic retail areas: assortment planning, pricing strategies, product development, order management and fulfillment, sourcing, supply chain and others. We consider our model to be a bit different, using our deep, real-world retail experience in collaboration with our client's unique business characteristics to help achieve their objectives and ultimately position them to solidify trust with their own customer base.
With most of our projects, we embody a change management focus to help client senior leaders build trust within their organization - especially during large, transformational initiatives. We talk about this critical component in our recently published Point of View, Change in the E-Suite, focusing on approaches that drive trust within the organization and result in the achievement of significantly better project outcomes.
If you're thinking about new initiatives to establish or strengthen the bond of trust with your customers or that will impact your own team, and you need a trusted advisor to help guide your organization through the many challenges, give us a shout. We'd be delighted to learn about your initiatives and offer our insights. If we've never worked together, we humbly welcome the opportunity to learn about your business and the key things that make you successful, in hopes of offering innovative ideas to enhance your performance. For our past clients, we'd enjoy the chance to re-engage, strengthen our understanding of your company and provide our counsel and assistance.
CEO, The Parker Avery Group
Change in the E-Suite:
Enhancing the Value of Retail Solution Implementations
Despite the best intentions, senior executives can create major challenges to realizing benefits from technologically successful solution implementations through lack of...
New Case Studies
Distribution Center Integration Design, Requirements & Roadmap
Project management, business requirements assessment and integration planning activities to support a consolidated multi-banner distribution center model...
Pricing and Promotions Capabilities Roadmap Development
Current state assessment and benchmarking against industry leading practices to identify and prioritize pricing and promotions opportunities...
Merchandise Financial Planning (MFP) System Selection
Designing the future processes and evaluating a merchandising solution to enable strategic planning and enhance visibility...
The Parker Avery Group frequently contributes to articles, publications and events beyond our own thought leadership to provide current perspectives and advice to the retail community. We invite you to read the following articles to which we recently contributed or authored:
Going Mobile: Optimizing eCommerce for a Complete Omnichannel Experience
(Retail Dive, April 2016)
Achieving Stellar Service
(Airport Revenue News, May 2016)
And don't miss our latest personal commentaries and insights in the
Retail Advisor blog.
• Breaking the Trust Barrier,, by JV Venable, graduate of the USAF Fighter Weapons School (Top Gun), cancer survivor and former leader of the USAF Thunderbirds. Non-fiction, business. How Leaders Close the Gap for High Performance.
• Thinking, Fast and Slow, by Daniel Kahneman, Israeli-American psychologist and winner of the 2002 Nobel Memorial Prize in Economic Sciences. Non-fiction, business. A groundbreaking tour of the mind, explaining the two systems that drive the way we think.
• Start with Why, by Simon Sinek, author and teacher to major corporations, members of Congress, and other large organizations on how to inspire people. Non-fiction, business. How Great Leaders Inspire Everyone to Take Action.
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