Launch, Listen and Learn
Here’s an overwhelming piece of news: this year your store will introduce multiple new products and services, many of which you currently know very little about. These services and products represent a new direction for your company that could determine your future success. A successful launch will make your company a winner and demonstrate an ability to leverage changes.
A bad launch, however, could jeopardize your business. After all, if you’ve managed to survive this long as a retailer, then surely you have already made many intuitive and brave moves: You’ve updated your store’s design, retrained staff and have expanded product lines. You finally hit your stride with big-ticket items like plasma, HDTV and home installation services, and you think you can rest a while now that you’ve adapted. But you shouldn’t rest because, like it or not, those recent moves are now in the past. They have laid the groundwork for future success, but they don’t represent the end of the process. In many ways, those positive changes signal the beginning. There is still much adapting, learning, investing and transforming ahead.
This past holiday season demonstrated how much the CE world has changed. The battle for customers was intense and profits were nonexistent, even on typically profitable lines.