Retail Executive

NOV/DEC 2017

Retail Executive is the trusted advisor to top retail executives from the industry’s most profitable retailers. We help retail executives succeed in their job role and grow their business via exclusive, actionable, peer-driven content.

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Retailers: Pivot Or Perish Based on survey data from Retail Executive's audience, retail executives cannot rest on their laurels when it comes to quantifiable, radical transformation. S U C H A R I T A M U L P U R U - K O D A L I ▶ Retailers believe their core assets will carry them. Andy Grove, the legendary founder and CEO of Intel, was known for the expression "only the paranoid survive." If that is true, retail is toast. When asked a follow-up question on why they thought their companies were on a growth trajectory, the most common response (from 24 respondents) was that the respondent thought their retailer had a strong brand. An additional 19 respondents said they believed they had loyal customers. Nineteen also thought they innovat- ed constantly. conducted a survey with Retail Executive this past summer to measure the current senti- ments of retail companies. Several dozen exec- utives responded, and here are the key findings: ▶ Many retailers think they are on a path to growth. In spite of all the negative news about and by re- tailers, many (too many I'd argue) retail execu- tives still see the glass as half full. Thirty-eight of 47 retailers surveyed said they thought their com- panies would grow in the next 10 years compared to only 2 who thought their company would not grow in the same time frame. I In the last year, there has been no shortage of culprits blamed for the poor state of retail: the growth of online sales, Amazon, changes in consumer consumption, prod- uct deflation, declines in mall traffic, the state of Sears, even the election of Donald Trump. One notable omission from that list, however, is the baffling optimism of re- tailers and the subsequent dismissal of radical transformation as a path to survival. RETAILERS ARE OPTIMISTIC ABOUT THEIR FUTURES DO YOU THINK YOUR COMPANY IS ON A PATH TO GROW FOR THE NEXT 10 YEARS? Yes Not Sure No 38 7 2 TRANSFORMATION Operations By S. Mulpuru-Kodali RETAILERS: PIVOT OR PERISH RETAILEXECUTIVE.COM NOVEMBER/DECEMBER 2017 22

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