Kossoff On ... why you need to start thinking beyond the 'verticals' like your supply chain if you want to boost your business

If you're not already well into your planning for next year, you've got a big problem.

But, whether you are or not, a trend you want to incorporate into your and your team's thinking is to go beyond the "verticals" that industry experts like to promote.

You know what I'm talking about. Whether it's in your supply chain or in choosing the markets you want to pursue, you focus on your "core competencies" - a big winner in buzzword bingo - and "sell into your verticals." Nah. You really don't. Or at least not totally. Because if you do, you're missing out on a load of opportunities that are waiting to be pursued.

How do I know? Just look at Next. As you know, it is a clothing retailer - or it was. Because what's next for it is to become a garden retailer with a twist. It's not selling into the "grey" demographic - or at least not only. That's not its market. It's opening up a whole new market segment by going out of its vertical (clothing) and into a new vertical (garden retail).

Where did the idea come from? Terrain, which is part of trendy upscale retailer Urban Outfitters, started as a "concept store" back in 2007. Then the economy crashed. But it's growing now, opening its second store with plans for more over time. Just like Next.

What does this mean for you, whether you're on the ornamentals or edibles side? You have new markets to pursue, if you're willing to do so. First, change your thinking. You're not in the "horticulture" vertical. You're selling into retail, which has a broader definition and far greater opportunities.

Second, look for your value add. Whether it's offering up a farmers' market or a grow your own component to a Next or other retailer, let them know how they'll benefit from your involvement in their offering.

Third, get aggressive. You're not in a passive marketplace. You haven't been since Tesco bought Dobbies. It's time to get in the game and make it yours.

Leslie L. Kossoff is CEO of Leadership Quantified - www.leadershipquantified.com.


Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Sign up now
Already registered?
Sign in

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Read These Next

Garden centre and nursery experiences: the next big trend in 2018?

Garden centre and nursery experiences: the next big trend in 2018?

Reports say today's shoppers are as keen to take in "experiences" as they are to shop - and garden centres say they are well-placed to take in the trend.

Business Planning - Staff are your greatest asset

Business Planning - Staff are your greatest asset

An effective strategy to retain staff is the best way for any business to avoid a potential recruitment crisis, Neville Stein advises.

What benefits can buying an extra garden centre bring to retail owners?

What benefits can buying an extra garden centre bring to retail owners?

More garden centres are adding an extra location to their offer - Coolings in Kent being the most recent example of the trend. But why are they doing it - and what are the benefits?


Follow us on:
  • Facebook
  • LinkedIn
  • Twitter
  • Google +
Horticulture Jobs
More Horticulture Jobs

Horticulture Week Top 100 GARDEN CENTRES 2017

See our exclusive ranking of garden centre performance by annual turnover. 

Garden Centre Prices

Peter Seabrook

Inspiration and insight from travels around the horticultural world
 

Read more Peter Seabrook articles

Neville Stein

Business advice from Neville Stein, MD of business consultancy Ovation
 

Read latest articles