
Retail Recovery
Description
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Shortlisted for the Business Book Awards 2022
The world's retail sector has been devastated in recent years by two unstoppable forces: internet shopping and the Covid-19 lockdown. The result: huge numbers of prestigious brands have gone under, or are now a shadow of their former selves, and large parts of the world economy have fallen into a recession, with reduced employment and incomes across large parts of society. High streets and shopping malls lie half-empty, causing a vacuum at the heart of our communities and societies, and many discretionary products have simply become too expensive for people to buy on a regular basis.
There is now an urgent need to regenerate our local shopping areas, so how can retailers and brands respond to this crisis? Fortunately, new shoots of recovery are emerging from the wreckage of the old order - new brands, new ways of providing value, and new and innovative methods of creating interest to draw in consumers, all of which have the potential to kick-start the retail economy.
Retail Recovery offers a comprehensive analysis of these new forces that are changing the way in which we browse for and buy products, and how we experience and engage with the brands themselves. It includes in-depth interviews with some of the most innovative players in the UK, Europe and North America, in the hope of drawing out key learning points for the rest of the industry. It also provides essential guidelines for governments, as they strive to rebuild and reinforce the retail spaces within our communities, allowing them to create a more effective economic lifeline for retailers, shoppers, retail workers, manufacturers and distributors.
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Content
- Intro
- Title Page
- Copyright Page
- Contents
- Introduction
- The rise of online
- The damage to retail
- The impact on brands and landlords
- A fragile recovery
- An opportunity for a reset
- How to use this book
- Part 1: The Apocalypse and its Causes
- Chapter 1: The Crisis Brews Up - The Long-term Causes
- Supply chain changes
- Demand-side changes
- Other factors
- Summary
- Chapter 2: The Spectre Haunting the Land - The Coronavirus Pandemic
- The effect on retail
- Government support
- Retail versus online
- Brands and landlords also suffer
- Ongoing uncertainty
- Chapter 3: We're Gonna Party Like It's 1929
- Reasons to be cautious
- The economic cycle
- Chapter 4: Last Man Standing - The Impact on Retail
- The UK
- Cafés and restaurants
- Cinemas, estate agents, banks
- North America
- Canada
- Chapter 5: Rocking all Over the World
- Europe
- Asia
- Australia and South Africa
- The BRICs (Brazil, Russia, India, China)
- The Middle East
- International travel retail
- Chapter 6: Where Has All the Business Gone? The Effect on Brands
- Clothing
- Toys
- Beauty
- FMCG
- Direct-to-consumer
- Channel conflict
- Chapter 7: Mall Cried Out
- American nightmare
- The horror on the Hudson
- Can't pay, won't pay
- The UK
- China
- Chapter 8: Dislocation, Dislocation, Dislocation
- Two wrongs don't make a REIT
- CMBS-over
- The UK
- Hospitality and office REITs
- Chapter 9: To the Victor the Spoils - The Triumph of the Dot-coms
- Marketplaces
- Grocery
- Direct-to-Consumer
- Chapter 10: Together Alone
- Positives
- Negatives
- Chapter 11: Generation 'C'
- Suspended animation
- Don't call us .
- Implications for retailers and brands
- Chapter 12: Fish Swimming in the Venice Canals
- Dying of consumption
- Chapter 13: Summary - A 'Reset' Moment for Retail
- Necessity is the mother of invention
- Part 2: Retail Recovery
- Chapter 14: Embracing the Omniverse
- Six key themes
- Chapter 15: Push Me, Pull You
- From producer control .
- . To consumer power
- The three revolutions
- Chapter 16: Beyond the Transaction
- Goods and services
- Consumers' real needs
- A higher purpose
- Summary
- Chapter 17: 'Servicizing' a Goods Business
- Chapter 18: Feelings
- Care
- Individual recognition
- Involvement
- Community
- Chapter 19: 'Congratulations on your happy news!'
- From mass to individual
- Performance marketing
- Key metrics
- The penny drops .
- Chapter 20: Purpose-built
- Let my people go surfing!
- Being good is good business
- Chapter 21: Hot Data
- Flying blind
- A missed opportunity
- The Toys "R" Us case
- A burning platform compels change
- Changing retail culture
- Chapter 22: Digital Converter - Making Online the Backbone of the Business
- Fashion
- Other retail
- Luxury
- Grocery
- Independent retailers
- Chapter 23: Back from the Dead
- From stores to brands
- Chapter 24: Have You Seen the Middleman?
- Brands going direct
- A profitable model
- Wholesale brands go direct (finally)
- Chapter 25: Going Private
- The crisis spurs retailers to invest in private label
- Countering direct-to-consumer moves by brands
- E-commerce platforms join the private label party
- Chapter 26: The Endless Aisle
- The marketplace model
- Retailers embrace platforming
- Monetizing audiences
- Chapter 27: Whither the Store?
- Solutions coming from left field
- Focusing the store on customer recruitment
- Chapter 28: Showrooming
- Small is beautiful
- Zero-inventory stores
- How do you stock 350 million products in a store?
- Retailers finally 'get' showrooming
- Chapter 29: Spectacle Frame
- The original showman
- Brand exploratoria
- Chapter 30: Edutainment
- Chapter 31: Clubhouses
- Building a brand community
- The Peloton phenomenon
- A brand built by its own community
- Chapter 32: 'A good stylist is cheaper than a good therapist'
- A new breed of retailers
- An employee-owned business where shopping is a pleasure
- Retailer as hair stylist - a useful analogy
- Chapter 33: Phigital
- Making stores more like websites
- Facial recognition
- The store of the future
- Chapter 34: Techs and the City
- Automated check-out
- Robots
- Safe tech
- Product information
- Chapter 35: Please Re-lease Me
- Doubling down on retail
- Making it easier to open a store
- Reducing set-up costs
- Plug & play spaces
- Who owns the staff?
- Chapter 36: Retail as a Service
- The leading players
- Malls embracing RaaS
- Part 3: Winning Through Creativity - Retail Success Stories
- Chapter 37: Target
- Enhancing digital
- Remodelling stores and opening smaller ones
- Private label
- Chapter 38: Best Buy
- The centrality of data
- Solving customer problems - end-to-end
- The importance of purpose
- Chapter 39: Aerie
- The voice of a new generation
- The power of community
- Contribution
- Massive success
- Chapter 40: Gymshark
- Influencer marketing
- Building a community
- The importance of physical interaction
- Chapter 41: Rosé Mansion
- Educating a new generation about wine
- Rooms with a view
- Chapter 42: Walmart
- Doubling down on digital
- The importance of the stores
- Chapter 43: Showfields
- Simplifying store opening
- Thinking beyond the sale
- The importance of curation
- Culture club
- Innovating through Covid
- Chapter 44: Huel
- Values-added
- Hueligans
- Chapter 45: Rapha
- More than apparel
- A shared joy
- Clubhouses
- Riding through the pandemic
- Chapter 46: Southern Co-op
- Collective ownership
- Purpose beyond profit
- Think local
- A lifeline in the pandemic
- Chapter 47: Bonobos
- An outsider's perspective
- Cult-like enthusiasm
- A breakthrough idea
- Growth and acquisition
- Chapter 48: Nike
- Biting the bullet
- Triple Double
- House of Innovation 002
- Fortune favours the bold
- Conclusion
- Notes
- Index
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