The New Rules of Retail: Competing in the World's Toughest Marketplace [NOOK Book]

Overview


The retail world is undergoing a fundamental transformation.  Rapidly evolving technology, globalization, and a saturated marketplace offer consumers instant access to thousands of equally compelling products and services, creating unprecedented levels of expectation.  The impact of these changes is so profound that 50 percent of today's retailers and consumer companies will not survive it.  Traditional business models will become extinct, and the relationship between vendors and consumers will ...
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The New Rules of Retail: Competing in the World's Toughest Marketplace

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Overview


The retail world is undergoing a fundamental transformation.  Rapidly evolving technology, globalization, and a saturated marketplace offer consumers instant access to thousands of equally compelling products and services, creating unprecedented levels of expectation.  The impact of these changes is so profound that 50 percent of today's retailers and consumer companies will not survive it.  Traditional business models will become extinct, and the relationship between vendors and consumers will shift dramatically. Here, industry experts Robin Lewis and Michael Dart identify the forces behind these changes and look at the retail heroes of today and tomorrow to see how their business models are responding to the modern marketplace.  They profile industry giants such as VF Corporation (owner of Wrangler and The North Face), Starbucks, and Ralph Lauren, as well as cutting-edge favorites like Apple, Gilt Groupe, and Amazon, to uncover why some retailers are so successful at reaching today's increasingly elusive and demanding customer while others miss the mark by a mile.  What they find are three crucial factors that determine whether businesses win or lose: *Neurological Connectivity -- creating an addictive, irresistible shopping experience, from preshopping anticipation to consumption satisfaction *Preemptive Distribution -- using all possible distribution platforms to access consumers ahead of the competition *Value Chain Control -- vertically integrating control of a company's entire value chain, from creation through point of sale, for maximum delivery on the brand promise This essential formula, Lewis and Dart argue, is responsible for virtually every retail success story of the past few decades.  So while the landscape may never look the same, The New Rules of Retail gives business leaders the tools they need to not only survive, but thrive.

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Editorial Reviews

From the Publisher
“Takes a real approach to describe why some retailers prospered and others failed through each wave of retail history. Lewis and Dart’s use of case examples brings the book to life, clearly spelling out how customers and the competitive environment have changed and how retailers today must connect with their customers and take control of their value chain to not only be successful, but survive.”

—Ken Hicks, chairman and CEO, Foot Locker, Inc., and former COO of JCPenney

The New Rules of Retail: Competing in the World’s Toughest Marketplace is an important and instructive read for industry veterans and newcomers alike. Lewis and Dart provide a practical roadmap for success in the rapidly evolving environment, along with an assessment of the retailers who ‘get it.’ With the authors’ dire prediction that 50 percent of retailers will be unable to survive the transition to Wave III, this is a must-read for everyone in the business today!”

—Jane Elfers, president and CEO, The Children’s Place

“This book is an essential read for anyone who is interested in a history of what drives 70 percent of the U.S. economy and the many challenges expected to be faced in the future. Like we are now seeing in politics, the voter/consumer is in the driver’s seat, and those serving her had better take heed.”

—Allen Questrom, former CEO, JCPenney, Federated Department Stores, and Barney’s

The New Rules of Retail is a must-read for students of contemporary retailing. Full of meaningful insights about the current environment, the authors chart the course for a successful retail future.”

—Paul Charron, former CEO of Liz Claiborne

“Lewis and Dart have written an interesting and thoroughly researched book that traces the evolution of the retail business from the distant past to the looming future. Clearly, they know and understand all the players—well worth reading.”

—Marvin Traub, former president and CEO, Bloomingdales

The New Rules of Retail is an incredibly interesting and a provocative read. I thoroughly enjoyed the authors’ insight on past events. I look forward to debate and dialogue about their predictions for the future.”

—Tom Wyatt, president, Old Navy

“Lewis and Dart give a very accurate view of the past history of retailing. But more importantly, they offer an insightful and strategic view of the consumers and business models needed to support its future.”

—Claudio Del Vecchio, CEO, Brooks Brothers

The New Rules of Retail shows how to win in an unprecedented environment where consumers have instant access to hundreds of choices for everything they need. Lewis and Dart’s recommendations are dramatic, but they show that the consequences for those who stick with the status quo will be dire. A highly original and insightful book.”

—Mark Sarvary, CEO, Tempur-Pedic International Inc.

“Lewis and Dart have so many thought-provoking ideas that I used up a box of paper clips marking the pages I wanted my various department heads to read. And they’re easy to follow—I understood the concept of a

‘neurologically connective experience’ right away. All future decisions in retailing and wholesaling will be influenced by this book.”

—Bud Konheim, CEO, Nicole Miller

“Lewis and Dart have shown once again that they have their fingers on the pulse of both consumer needs and the ever-changing retail industry. The New Rules of Retail is a must-read for anyone who wants to not only survive but to thrive in the decades to come.”

—Kevin M. Burke, president and CEO, American Apparel & Footwear Association

The New Rules of Retail is a powerful analysis of the tectonic shifts that have transformed this industry, and it reveals the secrets of succeeding in today’s new economic and digital environment. Authors Robin Lewis and Michael Dart know retailing inside and out and their thought-provoking book, with its incisive perspective, proves it.”

—Tracy Mullin, former president and CEO, National Retail Federation

 

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Product Details

  • ISBN-13: 9780230112360
  • Publisher: St. Martin's Press
  • Publication date: 12/7/2010
  • Sold by: Macmillan
  • Format: eBook
  • Pages: 256
  • Sales rank: 670,194
  • File size: 441 KB

Meet the Author


Robin Lewis is the CEO of THE ROBIN REPORT, a knowledge-based, multi-media strategic report for C-level executives in the retail industry. He was the founder of the Goldman Sachs retail consulting subsidiary, Vantage Marketplace, which provides clients with strategic information and consulting on all sectors of retailing worldwide. Prior to Goldman Sachs, he was Vice President and Executive Editor of Women's Wear Daily, where he originated and led Fairchild's Strategic Information Services and the WWD CEO Summit series. He has consulted for Kohl’s, Bloomingdale’s, JC Penney, Macy’s, Liz Claiborne, Estee Lauder, Ralph Lauren, Sara Lee, and financial firms such as Bear Stearns and The Carlyle Group. He serves on the Board of Governors for the Fashion Institute of Technology, the Board of Directors for the Fashion Group International.

Michael Dart is a Principal, Head of Private Equity & Strategy at Kurt Salmon Associates, a global management consulting firm specializing in retail, consumer products, and healthcare. He was recognized by Consulting Magazine in 2010 as one of the Top 25 Consultants. Prior to joining KSA Michael was a partner at Bain & Co. working in the San Francisco and Chicago offices and founding their South African office in 1994.  Michael was educated at University College, Oxford University in England and subsequently received the Thouron Fellowship which provided him with a full scholarship to The Wharton School Of Business, University of Pennsylvania.

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Table of Contents


PROLOGUE: 'Tsunami'
Introduction: The Story
PART I: DEFINING THE THREE WAVES OF RETAILING
Wave I: Understanding Producer Power
Wave II: Learning about 'Demand Creation' in a Marketing-Driven Economy
Wave III: The Final Shift to Total Consumer Power
Wave III: The Transformation
PART II: THE NEW BUSINESS MODEL
Making the Mind Connection: Neurological Connectivity
Redefining the Rules of Engagement: Preemptive Distribution
The Importance of Value Chain Control: The 'Bottom-Line' Winners
What It All Means: Control, Collaboration, Collapse and the Chinese
PART III: THE MASTERS
The 'Master' Model: The Apparel Retail Specialty Sector
Ideas from the Masters: Wholesalers, Retailers or Brand Managers?
VF Corporation
The North Face
Best Buy
Gilt Groupe
HSN
Apple
Zappos
The Turnaround Artists: Masters Returning?
The Gap
Starbucks
Lessons From Sears: Success to Struggle
ACKNOWLEDGMENTS


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Sort by: Showing all of 4 Customer Reviews
  • Posted August 30, 2012

    more from this reviewer

    Retailing has changed dramatically: Producers and marketers no l

    Retailing has changed dramatically: Producers and marketers no longer control what, how and if customers buy. Modern-day consumers now tell you what they want to buy, how they want to buy it and whether they’ll let you sell it to them. Retail industry consultants Robin Lewis and Michael Dart combine experience and original research in their pragmatic, useful analysis of how the industry has evolved since the rise of the Internet. They offer a clear, logically progressive discussion, with instructive observations about stores, brands and the three “new rules of retail.” Although their explanation is long on theory and examples, it’s short on specific how-tos. Nonetheless, getAbstract recommends this eye-opening book – and eye-catching, too, with its great charts and diagrams – to manufacturers, marketers and retailers. Consumers, too, will relish its fascinating insights into their psyches.

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    Posted May 5, 2011

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    Posted March 15, 2011

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