Retail Disruption Creates Consumer Consumption
Leverage change to generate customer loyalty and profitFebruary 20, 2013 By Peter Weedfald
4. Smart Service Makes The Difference: TV sizes are growing while prices are plummeting. This is great news for brick-and-mortar retailers because most shoppers don’t want to strap a 60-plus-inch TV on their car roof. Nor will they want to risk a 60-inch TV being shipped across country from an e-tailer. Retailers need to do a better job selling and marketing the value of their local in-home services, especially when it comes to optimizing the installation and picture quality of a new smart TV and integrating the set with all of the family’s connected/mobile devices.
5. Re-tail, Re-Constitute: In another highly commoditized business, free shipping is standard. That business is called the pizza business where the shipping is free and we kindly tip the deliverer. In some cases, it might make sense for CE retailers to offer free shipping to consumers who live a certain distance from your store: “If you order on our web site by 1:00 p.m. we guarantee free same-day shipping by 7:00 p.m.” But make sure to charge for installation services … and watch your profits roar.
Successful disruption is cultivated through careful research of what consumers really need, want and value. Profitable disruption motivates consumers to reward your sales channels. Start today by establishing an SVP of Retail Disruption role to create, lead, motivate and promote your own principles for retail profitability. Create what consumers demand and they will give you what you want: highly kinetic, competitive and profitable in-store and online sales platforms.
Peter Weedfald is president of Gen One Ventures and author of Green Reign Leadership