"Give your target customer more of what they want and less of what they don’t want, and you have a great chance of winning”.   This is important advice from Will Ander and Neil Stern, co-authors of Winning At Retail: Developing a Sustained Model for Retail Success.  Their book is one of the sources I recommend in the Resource Guide of my book, Specialty Shop Retailing, and  Will has kindly agreed to be my first guest interview for this blog. I’ve asked him to answer a few questions about the advice that he and Neil Stern have for retailers.

 Q: The "sustained model" in your book title refers to the following series of "Ests" developed by the consulting company that you and Neil Stern work for, McMillanDoolittle. 

Cheap-Est: Winning with Price

Big-Est: Winning with Dominant Assortments

Hot-Est: Winning with Fashion

Easy-Est: Winning with Solution–Oriented Service

Quick-Est: Winning with Fast Service

Which of these should an independent retailer focus on in order to succeed?

A: For the small retailer, a winning positioning is usually through unique, fashionable, high end or customized product or through people and outstanding service.  Small retailers have the ability to customize to the local market and/or provide a special personal touch…both difficult tasks for large chains to execute on a consistent basis.  

 Q: McMillanDoolittle has many large retailers such at Best Buy and Radio Shack as clients.  What does your book offer that is especially pertinent to the small shop owner?

A: A retail store is the same to the customer whether owned by a large chain or a small entrepreneur, and the rule giving your target customer more of what they want still applies.  The key difference is what competencies and resources the small retailer has to differentiate itself from competitors.  Whatever you do though, it needs to be something your target customer wants and you need to be clearly differentiated, and best at it.

  Q: As a specialist in consumer insights, do you have any predictions about what will happen in retailing in the next few years?

More tailoring to the local market, increased amount of retailing concepts in urban markets, more interest and focus on “green initiatives”, retailers moving more into services (think Geek Squad and Med Clinics), international brands coming to US, more manufacturers setting up retail business to gain control of customer, retailers finding better ways to serve the aging population, particular boomer women, increased use of web and mobile retailing…  

 Copies of Winning At Retail: Developing a Sustained Model for Retail Success (John Wiley & Sons) can be purchased from most online and storefront booksellers.  Many thanks to Will Ander for sharing his insights today!

Happy Retailing,

Carol “Orange” Schroeder