Study shows that the retail category is in the dark ages
Tom Dougherty, CEO – Stealing Share
27 March 2015
The retail industry needs new ideas
Well, well. So consumers aren’t happy with the way retailers are integrating (or not integrating) in-store, mobile and online. What a surprise.
I say this to point out a retail study we did some months ago that demonstrated just how poorly the retail category has approached the digital age – and what is at risk.
“The retail category knows it is under siege. Sales are down, creating a kind of inertia among retailers.”
This week, Accenture, a consulting company, announced a survey with consumers that should make retailers quiver in their pants.
Less than half of the respondents (42%) find it easy to use their mobile device to shop with the retailers while 82% say store prices should be the same as online. Yet, only 34% of retailers actually do that.
It gets worse. Only 53% of retailers optimize sites for tablets, which is a shockingly low number. To be honest, I would have thought every retailer would have done that by now.
What’s the problem?
The retail category knows it is under siege. Sales are down, creating a kind of inertia among retailers. So they fall back on weekly sales, hyping the brands of items in their stores and shudder to think of the effect of e-tail, especially with Amazon looming out there like a coming zombie apocalypse.
This kind of thing does happen in many industries as brands are reluctant to do anything new so they simply re-hash what has worked in the past. (Or, more honestly, kinda, really didn’t work.)
This is a common rant of mine but part of the problem for industries like the retail category is that they think they have to use the same consultants and ad agencies that someone else in their category has used before. Like knowledge of the industry really makes that much of a difference. It only means you churn out the same drivel year after year.
A plea to retailers. Get it together, rebranding is needed. Call me.
Too much customer service Tom Dougherty, CEO - Stealing Share 21 June 2018 Too much customer service is a real thing I’ve said this before, but I gotta say it again. Too much customer service drives me bat-shit crazy. Not surprisingly, Best Buy kills me with this....
Dow Jones ousts GE Tom Dougherty, CEO - Stealing Share 20 June 2018 Dow Jones kicks out GE. Now what? In 1896, the stock market adds GE as one of Dow Industrial Average’s first companies. As of June 26th of this year, it will no longer be part of the DJIA. I typically...
Tim Cook is leading the way Tom Dougherty, CEO - Stealing Share 19 June 2018 Apple CEO Tim Cook Tim Cook. Apple Act 2. Like everyone else, I worried about Apple’s succession plan. I was a died-in-the-wool member of the Steve Jobs cult. I was not sure what to make of...