Omni-Channel

Ikea’s Omnichannel Experiment

The Swedish retailer makes up for lost time with a thorough and deliberate approach to the newest form of retailing By Allison Zisko | November 2, 2016 Big boxy Ikea may ultimately prove that slow and steady wins the omnichannel race—and be surprisingly nimble at it in the process. After a relatively slow digital start—Peter Agnefjäll, president and CEO of Ikea Group, told CNBC one year ago that the Swedish retailer “could have been faster” getting into e-commerce—Ikea in September reported strong online sales for fiscal 2016. Agnefjäll told Reuters that online revenues grew 30 percent, to $1.54 billion, without entering any new online markets. Back in January, he told Bloomberg Business that the company’s goal is for online revenue to represent 10 percent of total sales by 2020. “On a journey to become the world’s leading multichannel home furnishings retailer, Ikea Group is increasing its focus on integrating physical and digital commerce [...]

2018-03-26T08:55:14-04:00

TGC on “Customer Service Strategies that Help Maximize Holiday Sales”

Customer Service Strategies that Help Maximize Holiday Sales By: Catherine Conlan The holiday season is make-or-break time for many retailers, hospitality employers and service companies. Perhaps your company is feeling the stress of relying on seasonal employees to generate the holiday sales you’ll need to finish the year in the black. The best way to remedy this situation is to focus on better customer service-- especially during the all-important holiday season. Chances are your competitors are already working on improving theirs. “There have been a lot of lessons learned about customer service failure,” says Steve Goldberg, President of The Grayson Company, a retail and investment consulting company in New York City. “They’re being much more careful.” Here’s how to boost your holiday sales with great customer service. Train Employees in a Scalable Way Retailers are focusing on training their holiday hires more effectively, Goldberg says. “Some of the training is virtual, and some of it is in [...]

2018-03-26T08:55:15-04:00

TGC Weighs In: “West Elm Shows Retailers New Way to Reach Customers”

West Elm Shows Retailers New Way to Reach Customers BY LIZ WOLF OCTOBER 14, 2016 Ever stay in a hotel and wonder where you can buy the chic table lamp or cozy sofa? Well, if you stay at West Elm’s new hotels, everything in the room will be available to purchase online. You heard it right: Trendy home furnishings retailer West Elm, a brand of William-Sonoma that’s been around since 2002, announced plans to launch a chain of branded boutique hotels. The Brooklyn, N.Y.-based retailer is partnering with hospitality management company DDK, with the first hotels scheduled to open in late 2018 in Detroit; Minneapolis; Indianapolis; Savannah, Ga.; and Charlotte, N.C. West Elm will market, design, and furnish the hotels with its contemporary line of beds, linens, tables, lamps, chairs, and other furnishings. That gives potential customers the chance to “test drive” the décor before buying.   A New Strategy To Expand the West Elm [...]

2018-03-26T08:55:15-04:00

TGC quoted in HFN article “Bed Bath Enters Tough Territory With Loyalty Program”

Bed Bath Enters Tough Territory With Loyalty Program The $29 annual membership test program offers 20 percent discounts on all orders Posted on October 13, 2016 by Allison Zisko NEW YORK—Bed Bath & Beyond’s new fee-based loyalty test program draws the specialty retailer into an increasingly crowded arena that has had mixed results with the strategy. Bed Bath & Beyond’s new annual $29 membership program offers 20 percent discounts on all orders across all of its retail platforms, according to published reports. The program is believed to be in test mode, and it is unclear whether the new fee-based program would lead to the elimination of its popular 20 percent off coupons, which are individually applied to one item. Withdrawing discounts once they are in the market is risky, noted retail analyst Steve Goldberg, president of The Grayson Company. “Altering buying patterns is always a challenge,” he told HFN. Discounts with expiration dates must also be carefully [...]

2018-03-26T08:55:15-04:00

Listen to Steve Goldberg quoted on Marketplace’s broadcast, “Retailers already scrambling for holiday workers”

Retailers already scrambling for holiday workers by Reema Khrais Wednesday, September 14, 2016 | 11:34 PM The holiday season may still feel far away, but it's already started for retailers and delivery companies.  Many of them have been on the hunt for seasonal workers since the summer. Companies will need to hire extra  “warehouse drivers, transportation individuals, logistics professionals, and then all of the technical experts,” said Jim Link, chief human resources officer at the staffing firm Randstad. At some distribution and fulfillment centers that handle online orders, hiring quadruples during the holiday season. Most weeks, the staffing agency Hire Dynamics places about 4,000 people in jobs, said CEO Larry Feinstein. During the holiday season, that number is closer to 6,000. “My biggest worry is can we fill all the orders? Can we get the right talent for the demand that’s out there?” he said The right talent--and often the most difficult [...]

2018-03-26T08:55:20-04:00

Listen to Steve Goldberg quoted on Marketplace’s broadcast, “What was behind Macy’s decision to cut more stores?”

  What was behind Macy's decision to cut more stores? By Sally Herships August 11, 2016 | 4:41 PM Macy's says that its plan to close 100 locations across the country will give the company a chance to elevate its "total customer experience across all methods of shopping." But don’t go blaming the internet. “Eighty-five percent of purchasing happens in a brick-and-mortar environment,” said Steve Goldberg, president of The Grayson Company, a consulting firm focused on retail, wholesale, brands and investors. “The Macy’s story and Macy’s closing is not terribly surprising,” he said. During the course of its growth, Macy’s acquired stores, many of which were not productive. The real problem he said, is that retail in the United States is bloated. “The American retail landscape has far too many stores.” Or as the industry says, we are over-stored. Josh Pollack, an associate partner at the Parker Avery Group, a retail consulting firm, [...]

2016-09-15T09:41:36-04:00

What Does Pokémon Go Mean for Retailing and Brands? 

EVERYTHING. Pokémon Go emerged overnight and has become an extraordinary phenomenon. As of last week, the app had over 20 million active users making it the biggest mobile game in the history of the U.S. On Monday, July 11th, the average iPhone user spent 33 minutes in the Pokémon Go app, compared to 28 minutes on the Facebook app, 18 minutes on the Snapchat app, 17 minutes on the Twitter app, and 15 minutes on the Instagram app.* So why is this so relevant to Retailers and Brands? As Retailers, Brands and Malls battle for consumer traffic and spend across all demographic segments, Pokémon Go is just the beginning of what TGC believes will be a "4D" Omni-channel movement. "4D" Omni-channel will provide Retailers and Brands with a set of tools to reach and engage consumers in entirely new ways, far beyond purely gaming. While some retailers have immediately benefited from Pokémon Go (GameStop reported that [...]

2018-03-26T08:55:21-04:00

TGC at the 2016 Wharton Graduate Retail Conference

The Future of Retail and Brands is Truly Exciting!! Each year, the Wharton Graduate Retail Conference draws upon the best and brightest from the worlds of retail and brand to share their experiences and insights with Graduate students who truly represent the potential of our retail and consumer businesses. This year, Steve Goldberg, President of TGC, had the privilege to moderate a panel focused on customer loyalty through innovation. The conference also featured extraordinary leaders and entrepreneurs from retail and brands who shed light on the fundamental issues surrounding our consumer world today.  Discussion topics included breakthrough technology, the concept of connecting with customers through “authentic experiences”, and the process of inventing and reinventing businesses; all of which reveal important leadership lessons of how to succeed in business in today’s hypercompetitive, multi-channel marketplace. We left the conference optimistic that the future of our brand and retail leadership is very bright indeed. So [...]

2018-03-26T08:55:21-04:00

Kevin Mullaney quoted in Crain’s New York Business article “Why C. Wonder, Kate Spade Saturday failed”

Kevin was asked to comment on the spate of middle-market retail closures in 2015: "Being average in the middle is death," said Kevin Mullaney, president of retail consultancy the Grayson Co. "The high end and the low end—those two businesses are thriving. If you're in the middle, you'd better have a darn good reason for being there based on product and freshness." Check out the rest of the article at Crain's New York.

2018-03-26T08:55:21-04:00

Kevin Mullaney Named CEO of The Grayson Company

The Grayson Company is proud to announce the appointment of Kevin Mullaney as its new Chief Executive Officer.  Kevin joined the company 13 years ago and previously served as President. "I have known Kevin for more than 30 years," said Bob Grayson. "Over the last 12 years we have worked side-by-side, leading the business to its current position as a premiere consulting firm focusing on all aspects of consumer and retail businesses." "Bob founded the company with the idea that a consulting firm should have both firsthand experience with running a business and a personalized, highly-operational approach," said Kevin. "I believe that the company's remarkable growth is a testament to the work of the individuals that make up this truly talented team." Kevin has an extensive background in merchandising ranging from department stores to specialty stores.  As alum of the famed Macy's (Federated) training program he quickly rose to Divisional Merchandise Manager.  [...]

2018-03-26T08:55:21-04:00

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