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The following article is adapted from
a GlobalShop 2006 presentation by Dan
Stanek, executive
vice president and director of consulting services
for Retail Forward Inc.
Since a store's environment communicates the store's
message, it must differentiate the store within the
marketplace. The design, fixtures, and merchandising
must work together to get customers in the door and
to move merchandise. Successful retailers tend to be
innovators; they implement new ideas to create value
for:
•
Consumers who experience the store’s environment.
• Stakeholders who seek to prosper from it.
To evaluate
how that value is created, Retail Forward studies high-performance
retail chains annually. This analysis has uncovered
four characteristics that distinguish high-performance
retailers:
• They differentiate themselves through
core elements of their positioning strategy.
•
They create an emotional
connection with customers.
•
They provide an experiential
shopping experience.
•
They reinvent
themselves when needed.
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©2006
Retail Forward, Inc.
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