One of the most often-referenced terms of the early years of this century is “disintermediation.” It is so frequently used it acquired its own Oxford Dictionary definition: “The reduction in the use of intermediaries between producers and consumers, for example by investing directly in the securities market rather than through a bank.” Since its early days in the financial markets, the term moved through the warp and woof of the economy, creating a kaleidoscopic new fabric. Intermediaries Yes Virginia, there really was a world populated …
Are You Measuring What Matters?
I’m going to take a philosophical position here as a cautionary tale about the future of retail. “Measure what is measurable and make measurable what is not.” Is this a new edict from the ever-more-intrusive analytics team? A proclamation from anyone under the age of 35 roaming the cubicles? A chapter on marketing in an MBA classroom? The Past as Prelude No. It’s Galileo. Centuries ago it must have been breathtakingly innovative, whispered about in the corridors of the Vatican and debated in the salons of Florence. Or not. Perhaps just a …
What If We Reimagined Retail?
I offer you a cautionary tale. Let us take a moment in the waning days of yet another summer we cannot bear to admit is about to end and consider the waning days of another vanishing season. This time, a season of our profound discontent. The Summer of Our Discontent Let us consider retail. And retailing. And retailers. And specifically, all the ridiculous tchotchkes and bad-for-us foodstuffs they offer, with them counting on us to show up and stock up. As we gear up for fall, dare we look at the consumer-centric sector of the economy …
CPG Faces a Crisis of Conscience
By now we all know the adage, “If all you have is a hammer, everything looks a nail.” Our familiarity with the saying does not negate its relevance in a world riven by inflation, supply chain woes, employee demands and the looming specter of recession. Yet, it appears that those of us in the packaged goods industry have been consigned to the hammer brigade. Hammering the Message Just witness the edicts emanating from Cincinnati and beyond: “We must…” what? What do you imagine the CEO of the company which makes absolutely every product we …
Otherworld Retail
Do your eyes glaze over when you hear the term “metaverse?” Maybe Covid updates or supply chain bottlenecks are more riveting. Or comp-store sales versus a year ago. A 45-year-old athlete’s on-again, off-again desire to retire. Anything else. Well, congratulations. You must be a CEO of a major retailer or CPG brand. Now, at the apex of your career comes a dodgy idea forced upon you by Silicon Valley narcissists who know nothing of fashion trends or packaged food fixations. The Metaverse Isn’t Going Away My great friend and …
Retail in a Transitional Crisis
A few years ago I worked with Godiva Chocolatiers on a new loyalty initiative to take it beyond spontaneous purchases and holiday whirlwinds at its tiny shops. The most remarkable piece of learning came from a conversation with the president of the company. The week before Christmas was an “all-hands-on-deck” time for them, when he told me every senior executive throughout the Godiva world would go to work in the stores over the holidays. They would run the cash registers, work with clients to create the perfect holiday gift and bring fresh …
Small Businesses at Risk
An informal survey of fashion, retail, communications, and innovation gurus suggests to me that if leaders genuinely want the economy to roar back and remain roaring, fundamental change is required. We simply cannot return to our old, pre-Covid default settings. If we are honest, the business of supporting small business has been rattling along for generations, adding factions and fiefdoms to some mythic Rube Goldberg device. The Machine of Small Business The machine of business was not created by a cartoonist illustrating how to make simple …
Betting Big on Going Bigger
The other afternoon on Dateline White House on MSNBC, Nicole Wallace mused with a female guest about what will happen when they can go outside again. Their consensus: They need elastic-banded pants. Their knowing smiles suggest we all will expand our wardrobes. After a year of relying on figure forgiving leggings, t-shirts and hoodies, entering the once and future world of wardrobes frozen in the amber glow of our year-ago closets may come as yet another shock to our already traumatized selves. Yet it must be said, our year of living Covidly …