By the time you read this article, holiday shopping will be over! Eggnog cups will be empty and placed back into storage and New Year’s resolutions will still be possibilities.
When retail businesses get into trouble, the ills are invariably systemic: The companies have lost touch with their core customer and with essential brand identity â including how core customers expect to be served by the brand. The needed fixes are almost all holistic, but the solutions that turnaround managers elect are too often piecemeal. Retailers on the mend must learn:
Fixes are not simply about reconstructed marketing or reconfigured environments.
E-tail options are getting better and better. When customers journey to real-world retail spaces, they want a "happiness boost"
When Gary Chorman was laid off from a manufacturing job in 2002, Howard Millman and his wife Shirley gave him an opportunity that many people dream of but few encounter: the chance to learn a business from the ground up and buy it at reasonable terms. A year later, Chorman bought Millman’s Appliance Center, a small appliance dealership located in the resort town of Rehoboth Beach, Del. Since then, he’s been working to make the most of what he considers an act of “divine intervention.” Over the years, Chorman has expanded the retail sales floor from 1,000 sq. ft. to about 4,000 sq. ft.,
Age: 38 Education: Some college. Learning by doing. Career History: Dean co-founded Value Added Services in 1999. His retail experience began at 16 when he landed a job with Circuit City. That led to a job as manager of service plan sales at Montgomery Ward. He moved on to develop CompUSA’s Technology Assurance Program during the mid 90’s, where he developed the idea of making service plans tangible by wrapping a kit around the service contract. VAS began by working with an e-tail client, expanded into the big-box retail channel, where the company began developing kit strategies for home theater, PC and digital cameras.
Appliance Recycling Centers of America, Minneapolis, promoted Bradley Bremer to the newly created position of vice president of retail operations. Since joining ARCA in 2000 until his promotion, Bremer served as retail operations manager for the company’s retail division, ApplianceSmart. Bremer’s responsible for directing all aspects of ARCA’s retail division, including the management of sales, marketing and operations for the company’s ApplianceSmart stores. Bremer also oversees the planning and development of new ApplianceSmart stores, programs and services. In the past, Bremer has held sales and management positions with Sears Brand Central and Montgomery Ward. After graduating from the University of Minnesota Duluth, Bremer
Eight Decades of Advertising and Merchandising Consumer Electronics By Joe Paone and Collin Keefe You could say consumer electronics and appliance advertising and merchandising has been all about windows these last 80 years. Store windows stand as the ultimate synthesis of advertising and merchandising, attracting customers into the store and delivering marketing messages (advertising) while promoting and displaying products on the retail premises (merchandising). The windows of the 1940s were those of the family-owned independent dealers, stalwarts of Main Street, anchors in the commercial districts of downtown U.S.A. The windows of the late 1950s began to look more global, as Japanese manufacturers entered the
How to risk it all, several times, and win-win By Janet Pinkerton For Best Buy founder Richard M. Schulze, risk is life—carefully gauged and addressed head-on, always with an eye towards diversifying future options. In the mid 1960s, the head of North America's largest electronics retailer was a sales representative working for his father in the era of 30-day manufacturer contracts, a rep who wanted into retailing. "It was really driven by my own desire to take control of my own destiny," Schulze said. "Early in the game, I discovered that your individual future was not in your own hands when manufacturers had the
American Appliance Shut Doors to 24 Stores American Appliance, one of the nation's largest independent retailer of appliances and consumer electronics, closed its 24 retail stores yesterday, April 24, 2001. The Philadelphia Inquirer quoted America Appliance Vice President of Advertising Walter Koval by as saying a primary creditor notified the company on Monday that it was going to take back its appliances, which represent about two-thirds of the retailer's inventory. Koval was quoted that the creditor had been "significantly impacted by the bankruptcy of Montgomery Ward and a number of other companies." (See full Inquirer story at http://inq.philly.com/content/inquirer/2001/04/25/business/AMERICAN25.htm) Industry
Springing Forward After Slow WinterBy Markkus RovitoORLANDO, Fla.—Most NATM Buying Corp. members and executives maintained an attitude of cautious optimism for 2001 at the group's annual meeting held last month. Although NATM Executive Director Bill Trawick called CE sales figures in January and February "not exciting," NATM expects another year of growth, with sales bouncing back in the second half of the year. (Note: After the NATM meeting, major stock indexes fell to their lowest levels in more than two years for the week ended March 16.) In order to weather the storm, NATM said its members would work on increasing efficiency in