Exciting! This past September TNG completed its 50th Ripley’s Aquarium live fish delivery.
So much is in the news about how retail is stumbling, sinking, closing and shuttering. It is true. There are many dying retailers. As times change and customer demands evolve, retailers must keep up or stay ahead. Actually, the successful retailers are the ones that anticipate what their customers want before the customers know themselves – part mind reader, part strategist all wrapped in the most enticing of packaging.
Every retailer knows that times are tough right now. It can seem unrelenting with an onslaught of new issues every day. With one part of the puzzle in hand, another seems to falter in a constant battle to remain relevant and thriving. The pinch is real.
A recent article outlines the wildcard nature of the supply chain as the integral link for retail success. It starts the discussion with: “…as much as grocers continue to invest in building a better shopping experience, consumers still think of a trip to the grocery store as a chore”1. If that is the case, then consumers will continue to look for alternatives to cut out just one more ‘chore’ in their already busy lives. If we look at retailers that are doing “better than” some of the others, are there patterns? Does the excitement of discovery and treasure hunt in a Costco make the shopping experience better for the shopper? If so, how does grocery incorporate more of that element into their stores? It could be that they customize more, experiment more with different products or try to localize products. It could be how they present that product to shoppers. The store within a store is gaining ground. Retailer operations along with limited distribution space often don’t make this an easy task, however.