Competing in the World’s Toughest Marketplace
By Robin Lewis and Michael Dart
Retail as we once knew it is on its way out. In a marketplace saturated with choices, and customer access available 24 hours a day through multiple platforms, retailers need to do all they can to stand out. In the first edition of The New Rules of Retail, published in 2010, Robin Lewis and Michael Dart explained how unprecedented consumer power, enabled by technology and globalization, is revolutionizing retail. They warned that survival in these dynamic times called for a business model based on three distinct competencies: preemptive, perpetual distribution; a neurological customer connection; and total control of the value chain. In the years since, many of their predictions have come true. Now, In the fully revised and updated second edition they revisit timeless case studies like Ralph Lauren and Sears, as well as new additions like Trader Joe’s, Lululemon, and Warby Parker, to assess how retailers must continue to evolve in the era of e-commerce, data mining, and tiered distribution. They also identify the five current trends that are currently driving consumer demand, including technology integration and channel consolidation, as exemplified by Jeff Bezos at Amazon.
“Powerful and thought provoking…great insight into our business and perceptiveness regarding its challenges…”
Michael Gould, Former Chairman and CEO, Bloomingdales
“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.”
Allen Questrom, former CEO, JCPenney, Federated Department Stores, and Barney’s