Today we chat with Steven Dennis, he’s been named top retail influencer by several publications and a regular contributor to Forbes. He’s an expert on the reinvention of retail in the age of digital disruption. He is a strategic advisor, writer and keynote speaker on retail growth and innovation, with a particular focus on omni-channel, customer insight and digital disruption. Prior to launching his own firm (SageBerry Consulting) he was the Senior Vice President of Strategy & Multichannel Marketing for the Neiman Marcus Group. Oh, did I mention he has an MBA from Harvard Business School? So he knows what he is talking about!
I encourage folks to look at whether they are fundamentally serving customers in a buying mode or shopping mode.
Buying is much more task oriented… That’s where eCommerce in general but Amazon in particular is really winning.
Figure out how you can really be relevant and remarkable for the customers in the categories you are participating in.
Get in there and really understand your customer very deeply.
Find those places where you can really amplify the experience and distinguish yourself.
Some of that conventional wisdom that has served many brands well for a long time just isn’t applicable anymore.
Amazon works on the opposite of scarcity …
It’s about creating a story and an emotional connection around your brand.
The best way to be intensely relevant or remarkable is to make the customer feel like the product or experience was really built for them.
Personalization is a great opportunity but its really hard to get right.
Its such a cliche to say “be customer-centric” but very few companies have
Be much more comfortable with experimentation.
The retailers that are winning are much more comfortable with embracing a culture of experimentation
Failures ok, just fail fast and re-calibrate.
Links from the Cast:
Forbes: The reinvention of retail in the age of digital disruption
Website: Reinventing Retail In The Age of Amazon