Marge Laney

RSR Research: Are We Beginning the Next Golden Age of Retail?

August 19, 2010

FROM RETAILWIRE:
We sit today, in the second half of the first year of the 21st century's second decade, possibly on the cusp of a new golden age of retail. It seems as though surviving retailers are starting to pick up the customer's cadence and picking and choosing the best from retailing's finest hours. Are you encouraged that retail is heading in a healthier direction?      [more...]

I do think retail is paying more attention to the customer experience as a direct result of social media and reduced traffic. It's no longer acceptable to promise one thing and deliver another. A bad experience is easy to Tweet or Facebook and people do it.

On the traffic side, with fewer potential customers crossing their thresholds on or offline, conversion and EBITDA improvement is on the lips of every retailer.

That brings us to the front-line sales associate whose job it is to deliver the brand promise with great service and keep the boat afloat with their selling skills. Most retailers are still trying to sidestep this issue with self-service and other technology that seems cheaper and more easily controlled and measured.

I agree that we are on the cusp on a new golden age of retail, and it's being driven by the consumer who's saying, 'What exactly am I paying for? Why is it worth it?' The winners will deliver a seamless 'oneline' brand experience that will answer both these questions clearly, honestly, and with passion.