SAVING MAJOR RETAIL

I have been writing about this subject for a while now and never expected something as big and disruptive as Corona.

However, shrinkage and bankruptcies of Major Retail has been a long time in the making.

I started my retail career in the late 60s when the moon was the limit. My training was superior. Those were the days we invested in people development. 

Let’s start with the obvious when Neiman’s opened in Hudson Yards it made no sense. I went there once just to see it, never had a reason to go back. The only thing I purchased that day was lunch. While I am in the decluttering stage in my life I have managed to go to Nordstrom’s on West 57th Street several times and always buy things other than lunch.

The second half of my career I shifted to focus on a much wider group of businesses and industries including Human Resources, Financial Services, Marketing, Manufacturing, Transit and Not for Profits but maintained some business and an interest in Retailing, which expanded my knowledge and experience.

I lived through regional, national and global expansions. I saw specialty stores outpace department stores and the cross pollination of manufacturers to stores and vice versa.

During my tenure at Bergdorf’s in the ‘80s it seemed as though money was an infinite resource.

Les Wexner bought and killed Bendel’s, a model he knew nothing about.

Recruiters stole from another retailer’s staff, falsely believing the other guys talent was better than a known commodity and would enhance your business. There was no understanding of the dynamics of talent in another man’s house. Executives repetitively failed and got generously rewarded with big fat compensation packages. What was the message?

The US went through significant downturns and recessions and retailers began to compete with regular discounts and regular promotions.

Technology began to infiltrate retailers large and small and influenced how we shopped.

I could go on and on but will in future articles.

Remember the Blackberry clusters?

*** I still believe in Major Retail tho the little bit I buy is now overseas on vacation or at indi stores.

The one thing that has been declining for decades is Customer Service and I believe it is the only thing that will save the industry. I miss the old familiar faces at Saks where everyone knew my name. I stopped shopping at Bendel’s years ago. Macy’s is too large and chaotic for me, yet I still go in there and buy a few things here and there,every now and again. Bloomingdales is probably my go to but infrequently due to service. Even Bergdorf’s has staff that answers questions with “ I don’t know, I don’t work here” which translates to, this is not my regular department. Wouldn’t I don’t know let me find out make more sense? How about, May I have you name and number so I can call you with the information? 

Last but not least for today is the Gazillion $ surveys are skewed therefore worthless. 

Stores need BOOTS ON THE GROUND, timely reporting of real day to day issues to reposition the industry.