Saks Focuses on Better Customer Experience
By George Anderson
Saks Fifth Avenue chief executive Fred Wilson is hoping to reinvigorate the upscale department store chain with “better informed staff, more risk-taking in buying, less cluttered stores and, most importantly, a better customer experience,” according to a Financial Times report.
Mr. Wilson is looking to change the attitude and language of his business. “An old luxury department store is a store. Our vision is an intimate service relationship,” he said. “Old is selling – new is consulting.”
Saks’ customers, said the retailer’s chief, are looking for “friendly luxury” not “arrogant luxury.”
Moderator’s Comment: Do you agree with Fred Wilson’s vision for the new Saks Fifth Avenue? What will it take to make this vision a reality?
George Anderson – Moderator