The 2011 Retail Recovery

I just got back from a trip to the Okanagan. I was only gone for 5 days...but I really had a LOT of e-mails waiting for my attention in my 'IN' Box. So, for the last few days, I have been sorting through them. I realized that of course, it is January! January seems to be the month where if you are studying Social Media and or Marketing, as I am...every organization is coming up with a recap of last year...or a forecast for this year!! I have downloaded and printed my fair share of relevant articles, and e-books in the last few days, but this morning I read something that really got me thinking.

I receive an e-newsletter from a company called Retail Customer Experience. They were reporting on the 2011 National Retail Federation's Convention and Expo in New York. One of the speakers was Matthew Rubel: Chairman and CEO of Collective Brands. He was one speaker on a panel that was discussing " Retail's Prospects For Recovery in 2011". I found his quote to be brilliant:

" Focus on your customers" he said. " Innovate for them. Know how they shop and why they shop. Buy low, sell high, keep your overheads low. Anybody who goes beyond those fundamentals will wander."I feel this quote is incredibly timely, because it's so simple. I believe that with the huge amount of information we are bombarded with on a daily basis, comes the feeling that life is far more complicated than it used to be. This quote cuts to the HEART of having a Retail business. Keep it simple...and you will prosper. Remember the basics...Look after your customers, and watch your bottom line.

I think that this is great advice, and a little wake up call for any of us trying to over complicate what is essentially a very simple industry.

Here's to a GREAT 2011!!