Stein On - Innovation is key to surviving recession
02 Sep 2011
In my last comment column (HW, 22 July), I challenged the received wisdom that garden centres are recession proof.
Over the years there have been some fantastic speakers at HTA conferences.
In my last comment column (HW, 22 July), I challenged the received wisdom that garden centres are recession proof.
Recently there has been a ripple effect toppling hard-pressed retailers on the British high street with many well-established names going into liquidation. Focus has shut 178 stores, Oddbins 128 and Kitchens Direct 160. Even chocolate retailer Thorntons is closing some underperforming stores. And the...
Mary Portas, styled by the media as "The Queen of Shops", has appeared in the Garden Retail Power 100 list.
Leon Leonwood Bean, the founder of LL Bean, famously said of his customers: "We are not doing a favour by serving them ... they are doing us a favour by giving us the opportunity to do so."
In a question and answer session at the recent Contact 2011 conference, the panel - consisting of Steve Bradley, David Milner of Tyrells and yours truly - was asked: "What will be the key area to work on in your business this year, considering the difficult times ahead?"
If you are a friend of mine on the social networking website Facebook, you will know that I have recently conducted a study tour to the USA to review retailing practices. In my opinion, US retailers are the most sales-orientated in the world.
Living in a largely rural county I often get to meet farmers, and being someone who likes to get straight to the heart of the matter, I always ask them about their profit margins. To a man they have all been able to give me an accurate summary of how profitable their enterprises are.
A bit of crystal ball-gazing seems to suggest that next year could be one of many challenges.
In the past year my travels have not only taken me to my usual haunts (Ireland, Scotland and Poland) but further afield to New Zealand and the US.
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