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- Retailers you can’t run from this. You can’t regard these times as being temporary in nature waiting for market improvements; this change is not cyclical, it’s structural. Focus on your value in the chain…
- Coopetition, work with other retailers, including classic competitors.
- Sell the operations, franchise…
- Partner with new world distribution, let them aggregate … Facebook, Google, etc; you fulfill.
- Become a fashion brand, move up the stack via well priced, on-trend private label.
- I’m a big believer in focusing in on how to think vs. what to think. If you chase the what in these times, you’re reacting too late. If you know how to think, you have the opportunity to be a defining/benchmark setting retailer. Never forget, focus on your customer, not the product.