The real way forward for retail in 2012

An optimist stays up until midnight to see the New Year in. A pessimist stays up to make sure the old year leaves. – Bill Vaughan.

I am an eternal retail optimist. No matter what the state of the economy, there are always ways to make your retail business “fitter” by embracing the exciting speed of retail change. We leave behind a 2010-2011 year that Deloitte Access Economics described as a “…disastrous year for retail.” However, it also predicts a “reasonable rate of GDP growth in 2011-12,” allowing for growth in job figures and providing a better support for retail spending.

Last year saw a huge behavioural shift in the way people shop. Consumers have moved from being connected to “interconnected” using technology that transcends borders, time zones, store spaces, technology and applications. The information available to them across every touch-point makes purchase decisions more competitive and starts before they enter the physical or online store.

It’s no longer just about capturing the hearts, minds and wallets of the consumer in 2012. It’s about creating a real relationship with them, based on truth and trust.

If consumers will be using a more interconnected approach to shopping, retailers must employ the same integrated approach to their retailing. We call it inline retailing. Every point where your retail brand meets the consumer must be inline to create a happy first impression and build a lasting, trusted and relevant relationship. So what do we need to do to get ready for the year ahead?

The answer is to get business “fit” by setting real goals.

• Know the real you.
• Understand the real consumer motivation.
• Encourage the real consumer advocate.
• Be a real trusted retailer.
• Real inline integration.
• Get real smartphone smart.
• Get really good at customer and sales service.
• Make your store space the real thing.

2012 is the time to let consumers see you the real you and for you to find out the real them. Where the two meet will be your key to business “fitness” and sales success.

Let the world know you as you are, not as you think you should be, because sooner or later, if you are posing, you will forget the pose, and then where are you? Fanny Brice

Happy “fit” retailing in 2012!

Brian Walker is Managing Director of Australasia’s leading retail consultancy, the Retail Doctor Group. For more on Retail Doctor Group’s Effective People program email businessfitness@retaildoctor.com.au.