Boy, brick & mortar retailers had a rough holiday season – and this is exacerbating Wall Street’s skittishness on their stock prices. Both Macy’s and Kohl’s reported moderate 2.2% drops in same store holiday sales. The result? Their stocks were crushed by 10% and 15% respectively.
Brick & mortar retailers have been grappling with how to react to low online prices ever since Amazon’s inception 23 years ago. Given Wall Street’s scrutiny on every revenue metric, punting on implementing a new pricing strategy is no longer an option. I think that in many cases, brick & mortar retailers need to view their brick & mortar vs. online operations as addressing different customers with different needs and price sensitivities. For further details, please check out my latest piece for the Harvard Business Review.
As always, thank you for reading my blogs!
Posted on January 26th, 2017 (0 Comments)
With signs that the economy is improving (low unemployment, median income rising) – thus consumers have money in their pocket to spend on presents – it’s surprising that this holiday season, retailers have chosen to slug it out against each other on price. Really? You’d expect retailers to lighten up a bit and reap more margin?
Please check out my latest piece for the Harvard Business Review which details 4 strategies that help retailers avoid “price to price” competition, while better serving customers and reaping higher margins.
Posted on November 30th, 2016 (0 Comments)
Given my vocation, I tend to hear from friends when they are either buying a car or trying to get a great deal on vacation travel. Since most of my readers often travel on business, I am sharing my "secrets" to getting the best deals at many of the top hotels in the world. I’ve saved thousands of dollars by using these tips.
So to begin your savings on business, as well as persona,l travel, please check out my piece for the Harvard Business Review (apologies for the delay in posting).
Also, please check out my Facebook Live Pricing for Profit & Growth talk with the Harvard Business Review this Friday (September 23) by logging on to the HBR’s Facebook page at 11 AM EST (also will be available in their archive). These HBR talks are popular, averaging close to 40,000 views (both live and archived) per talk.
Posted on September 20th, 2016 (0 Comments)