Shifting Retailers Respond to “Season of Discontent”
Published
Author: Scott Davis and Peter Dixon
Scott Davis is a Senior Partner and Peter Dixon is a Senior Partner and Creative Director at Prophet, a strategic brand and marketing consultancy. This article is based on Davis’ latest book, The Shift.
Summary
Retailers have always been driven by the seasons. The holidays, of course, and particularly Christmas. Fall and back to school. The ushering-in of spring and summer, with promotions around fun and leisurely pursuits.
Since the recession officially reared its head in January of 2008, retailing has added a new season to its lineup: The “season of discontent.” Marked by customers who prize value above all else (when they are moved to purchase at all) and have a heightened interest in what their purchases say about them, it’s forcing management to look differently at the three key business drivers of merchandising, price and service. Instead of weighing decisions in these arenas against internal, operational concerns, retailers that will emerge from this season the strongest will have made the customer the primary and ultimate gauge for their actions.
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