Richard Hammond - Smart Retail: Practical Winning Ideas and Strategies from the Most Successful Retailers in the World

Winning Ideas and Strategies from the Most Successful Retailers in the World

Richard Hammond

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2012 by Pearson Education, Inc.

Publishing as FT Press

Upper Saddle River, New Jersey 07458

Authorized adaptation from the original UK edition, entitled Smart Retail, Third Edition, by Richard Hammond, published by Pearson Education Limited, Pearson Education 2011.

This U.S. adaptation is published by Pearson Education, Inc.,

2011 by arrangement with Pearson Education Ltd, United Kingdom.

FT Press offers excellent discounts on this book when ordered in quantity for bulk purchases or special sales. For more information, please contact U.S. Corporate and Government Sales, 1-800-382-3419, .

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All rights reserved. No part of this book may be reproduced, in any form or by any means, without permission in writing from the publisher.

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Printed in the United States of America

First Printing May 2012

ISBN-10: 0-13-306612-6

ISBN-13: 978-0-13-306612-8

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... is still dedicated to customersthe people who pay our wages.

Source: Koworld

Thank you so much to all the retailers and friends who so kindly gave me your helpits all been so valuable. Thanks especially to Mark, Steve, Nick, Chris, Kevin, TT, John, Jim, and Rocky who have been there with ideas, suggestions, and the offer of a beer many times when the going has been tough.

A retail career takes us away from our family and friends for huge chunks of time. To be a retailer is impossible without the patience of the people we love. I have been so lucky to have a wonderful family support me in all those twists and turns that a life in retail offers. To Rosy, Isabella, Bump, and Emilythank you so much for being awesome.

I would like to say a special thank you to those inspirational friends who have made retail so rewarding for me. First, to Umesh Vadodaria and Mahendra Patel for making me get off my bum and do things. To Buffalo Steve Smith for that very first break at 16. To Glyn Moser for making me see how important people are. To Janet for the belief that I could get the things in my head out and down on paper. To Rachael Stock at Pearson for making the original edition of this book better than I had imagined it could be. Thank you also to all the many retailers who gave up time, advice, and ideas for Smart Retailyou know who you are and you are all superstars.

I would like to add this last thing: all the effort, sacrifice, setbacks, and challenges have been worth it. Retail is the best life in the world.

The publisher would like to thank the following for kind permission to reproduce their photographs:

A&P Historical Society: p.

Every effort has been made to trace the copyright holders and we apologize in advance for any unintentional omissions. We would be pleased to insert the appropriate acknowledgment in any subsequent edition of this publication.

Smart Retail is written from an enterprising store managers perspectiveIve done that to make it easier to read but I want to be clear that whatever your role in retail, there is a lot to gain from giving the thing a read. In are notes specific to various job roles: Take a look at them before you plunge into the main sections, of which there are four:

Youpersonal tips for honing your retail eye.

Teamhow to get the best from your people.

Customerhow to delight them.

Storegetting the environment right.

Each section can be read in any order, or even on its own. You might want to start with whichever area you feel needs most work. It is fair to say that I believe most solutions to retail challenges can be found from within the team, which is why the Team section makes up such a big part of the book.

Above all, this is a working book. I invite you to flick through, to cherry-pick the bits that suit you best, scribble on the pages, tear stuff out, and share it. If I ever came into your store, I would love to see that your copy of the book has a broken spine, page corners turned down, a forest of Post-it notes sticking out the top, and coffee stains on the cover.

One thing that hasnt changed is that retail is still physically and mentally hard work. The pressures always on; were only ever as good as our last trading day. Every time we open the store, what follows could be a disaster or a triumph.

And thats the thrill of the thing, thats why we do itget things right, get the team pulling together, make customers happy, and take some money ... well, those are the days that keep us coming back for more. Getting retail right is thrillingmagic, even.

Welcome then to Smart Retail, where together we can try to make sure that you enjoy more good days, better profits, a happier team, an improved business performance, and a boost to your retail career. I love selling things in shops, it is my passion, and this book is all about sharing retail excellence so that we can all enjoy the good bits of that more often.

Selling online has had a massive impact on what we do and it is an impact that will continue to grow, not just through e-commerce but in how easily-available information and price-comparision forces change in the way retail works overall. Nowhere in the book though do I make much distinction between retailing on the Internet and retailing in a storeand thats because they are the same activity. Both forms are about selling products people want in nice, shoppable, environmentssupported by robust systems, great customer service, and effective communications. Retail standards apply in the same way across both.

Where distinctions do apply is in the suitability of your product, positioning, and format to either form. The rule of thumb is this: If you are a bricks-and-mortar retailer then you are unwise to be without a credible online outletits another store and one with a big potential catchment area. The other way around though and its less clear-cut: The Internet allows smaller retailers to reach far more people, more directly, and more powerfully than a few physical stores might.

As Internet retailing has matured, so too has an acceptance that both forms can learn from each other. Internet retailers have begun to understand better the principles of the complete customer experience, while bricks-and-mortar retailers have slowly begun to learn how to communicate better and how to give customers more reasons to come back. Reminding us that they exist, telling us about good things we might like to buy, and reminding us to come visit is something the best Internet retailers do superbly wellbetter than any high-street store. Internet retailers say thank you better than traditional ones too and thats more powerful than you might think.