The retail world is undergoing a fundamental transformation. Rapidly evolving technology, globalization, and a saturated marketplace offer consumers instant access to thousands of equally compelling products and services, creating unprecedented levels of expectation. The impact of these changes is so profound that 50 percent of today's retailers and consumer companies will not survive it. Traditional business models will become extinct, and the relationship between vendors and consumers will shift dramatically.
Here, industry experts Robin Lewis and Michael Dart identify the forces behind these changes and look at the retail heroes of today and tomorrow to see how their business models are responding to the modern marketplace. They profile industry giants such as VF Corporation (owner of Wrangler and The North Face), Starbucks, and Ralph Lauren, as well as cutting-edge favorites like Apple, Gilt Groupe, and Amazon, to uncover why some retailers are so successful at reaching today's increasingly elusive and demanding customer while others miss the mark by a mile. What they find are three crucial factors that determine whether businesses win or lose:
This essential formula, Lewis and Dart argue, is responsible for virtually every retail success story of the past few decades. So while the landscape may never look the same, The New Rules of Retail gives business leaders the tools they need to not only survive, but thrive.
©2010 Robin Lewis and Michael Dart (P)2011 Audible, Inc.
"The New Rules of Retail offers a thought-provoking and compelling perspective on the future of the industry. Both traditional retailers and e-commerce competitors will find the principles outlined by Lewis and Dart relevant to their needs. A must read." (John Donahoe, CEO, eBay)
"Despite retail being the driving force of our economy, little has been written about the industry that truly captures its past, present, and future. This book provides tremendous clarity and insight, and should become required reading for retail managers, senior executives and their boards." (Mark A. Cohen, Professor of Marketing, Columbia Business School and Former Chairman/CEO, Sears Canada Inc.)
"The authors bring solid credentials to their forecast of the coming retail landscape, and they provide plenty of interesting material for readers on both sides of the cash register.” (Kirkus)
Those not deeply involved in retail or related marketing, will find this book revealing and helpful. In particular, it traces the development of retail in the US describing the “three waves” that have brought us to this point. The most recent third wave which has over taken the market place since 2000 is the focus of the book. In “The New Rules” Robin Lewis and Michael Dart orient the reader to what has taken place in the third wave, explain what it means, and speculate about where retail may go from this point. They portray a number of business which are in current decline (Sears) and those which are adjusting quite well to the new environment (Apple, Amazon). This leads me to a couple of thoughts about the book. First, the examples are very contemporary as they should be and the future success of the firms described is yet unknown. The authors cannot avoid that. The companies used to illustrate firms creating the neuro/experience linkage are limited to tech related retail (again Apple, Amazon etc.). I would like to have heard about the changes in marketing undertaken by Harley Davidson for example in creating a life style as well. These are simple observations and in no way detract from the value of the book. In sum, this volume will be of value to more people than the title suggests. Individuals in not-for-profits and those just interested in the future of the US economy will benefit. Those steeped in marketing and retail, maybe will find it less so. Well written and wonderfully read by Brian O'Neal
Do you read the book before you dislike my reviews?
This is a require text for anyone that is in retail. Its highly educational and very informative. Beside explaining the modern retail and dot com business, the authors go into detail on how Sears got started with their catalog business. They became the forefathers in retail by starting in the late 1800's and how they are failing in our present time, but yet almost all retailers starts with the basic principle that Sears established. It starts with the old and ends with the new. Pretty good overall history on how the consumers became a brand for all retailers.
I'm a PM in retail business - I build shops and stores from brick and mortar :)
I've never read the print version (but I have it and will read it for sure in near future).
The performance was maybe even better than I would expect from reading the book along by myself.
Very good passages about today's fast fashion companies.
Very well written, the book describes in a very well organized and illustrated manner the evolution of retailing to the present days and ilustratesthe strategies and tools used by world leading companies in the pursuit and development of customer centered strategies.
Being new to the world of retail, this gave me a great overall understanding of what it takes to compete, what the best retailers do that makes them great, and why other retailers are floundering.
This isn't a technical book and it doesn't get below the surface of the theories of the authors, but that wasn't their intent. For each of their core theories about what makes a retailer great/competitive, they provide ample examples among the companies that are excelling, failing, or somewhere in the middle. The book also gives great history of the early waves of retail and how those differ from and have lead to the current phase.
This book is meaningful to anyone in the retail industry or looking to invest in retailers and provides fundamental knowledge of what retailers must do to compete in 2011. As a side note, retail investors may also want to read "The New Science of Retailing", which gets more technical regarding how to identify the health of a retailer from the outside through financial analysis.
Covering the history of retail through Waves I, II and III with concrete examples and tying it to new trends and how retailers and brands can respond to consumer and marketplace shifts.
none I can think of
The pace of the performance was good.
It might be helpful in the recording to call out areas where illustrations were used and available in the separate pdf. That would make it easier to go back to a refer to later.
Yes, there are always new, interesting facts that you did not pick up the first time.
It is easy to listen to and easy to follow - even if you are driving ... You learn as you go.
You can process it much faster (general audiobook advantage).
Nothing. He is good!
Very good book. If I had to say, what could be better: I'd prefer it to be a little more concise in some parts and go a little bit deeper in the operational business (e.g. talk about useful KPIs etc). But for an overview regarding the development of Retail and to understand the most important things to win in Retailing, on a high level, this is great.
I don't know. I just konw the audible version. After I decide to buy the print version.
It was really clear
Consumer leads the retail industry
The writers through a very descriptive and well told story of the evolution of retailing, set the stage for the future as we know, and will discover it. The narrative is very good, maintaining your focus on the concepts. For all those interested in retailing a must read/ hear!
It was very good. Although, it doesn't go into small businesses much, it's mostly about large businesses. I loved the history lesson on Sears, JCP and other big name companies and how they got started and how they fell. It's good to know these things as your company grows and reminds you to make things scalable and be aware of falling down fast.
I enjoyed it as it has lots of facts and stuff. I wish it had more about small business and how the new rules of retail can benefit us the little guys.
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