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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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.Review:
“A tour de force...offers a tremendous look-back and look-forward at the past, present, and future of retail...I highly recommend it.” ?Fortune
“Provides an accessible set of principles for assessing what retailers need to do to survive...a thoughtful analysis.” ?The Financial Times
“The authors bring solid credentials to their forecast of the coming retail landscape, and they provide plenty of interesting material for readers on both sides of the cash register.” ?Kirkus
“In-depth, cerebral look at the yesterday, today, and tomorrow of retail ... perfect for anyone entrenched in retail management” ?Publishers Weekly
“A timely, provocative examination of forces impacting the retail industry in the early 21st century...offers a framework for developing strategies for the future...a lively read...Highly recommended.” ?Choice
“This book is much too interesting to be bedtime reading. The New Rule of Retail is fascinating and a little frightening vision of our consumptive future. While not apocalyptic, it is stark and powerfully real. If you are a merchant or marketer, this is your up-wake call.” ?Paco Underhill, CEO Envirosell Inc. and author of Why We Buy: The Science of Shopping
“I truly enjoyed reading Robin Lewis and Michael Dart's book. They have clearly defined the new rules for success; whereby the successful brand managers will be those who can manage and control the pre-emptive distribution of their neurologically addictive brand from its creation all the way through to consumption.” ?Michael Gould, Chairman & CEO, Bloomingdale's
“Lewis and Dart delve deeply and smartly into what we need to do to thrive in the increasingly complex retail marketplace. Great stuff.” ?William P. Lauder, Executive Chairman, The Estée Lauder Companies
“Lewis and Dart, backed by years of experience in consumer-facing businesses, have produced a penetrating study of how and why some of America's most iconic retailers and brands lost their way, and examines the winning strategies of those that continue to thrive and grow. The New Rules of Retail is a must-read guide to survival in a changed and changing world.” ?Margaret Hayes, President, The Fashion Group International
“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 understands all the players -- well worth reading.” ?Marvin Traub, former President and CEO, Bloomingdales
“The New Rules Of Retail offers a thought-provoking and compelling perspective on the future of the industry. Both traditional retailers and e-commerce competitors will find the principles outlined by Lewis and Dart relevant to their needs. A must read.” ?John Donahoe, CEO, EBay
“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 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 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
“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
“Despite retail being the driving force of our economy, little has been written about the industry that truly captures its past, present, and future. This book provides tremendous clarity and insight, and should become required reading for retail managers, senior executives and their boards.” ?Mark A. Cohen, Professor of Marketing, Columbia Business School and Former Chairman/CEO, Sears Canada Inc.
“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% 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 Chief Executive Officer, The Children's Place
“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 Chief Executive Officer, American Apparel & Footwear Association
“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, Tempur-Pedic International Inc.
“This book is an essentail 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
“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 bring the book to life to clearly spell 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 & CEO, Foot Locker, Inc.
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