“For malls that have passed their prime, it’s time to reinvent" said Kevin Mullaney, President of The Grayson Company, a New York City-based retail industry consultancy. "One idea is turn their malls into mini urban centers and nailing down the “right” retail mix. Customer are coming for the content of the mall and the stores or activities that are in it." Watch video...
While there are exceptions to every rule, there is no question that throughout the history of commercial enterprise, the companies who have strategically positioned themselves to move in the direction of dominant environmental and industry trends have enjoyed greater chance of success than those who chose to operate outside, or worse, against the trends. As we survey the landscape of the consumer sector today, there are clearly identifiable components which are present in the strategies of the majority of the most successful consumer companies. We share them with you knowing there are no guarantees that these strategies lead to success and the exceptions will no doubt be pointed out by contrarians. We’re only highlighting the dominant themes that influence success. Owning the brand is critical In our opinion, Mickey Drexler was directionally correct with his statements at a Financo event a few years ago when he duked up with Burt Tansky, the [...]
Internationally renowned 3D pop artist Fazzino partners with Seasoned Retail Consultancy Firm to Build Brand and Strategic Licensing Partnerships Internationally renowned 3D Pop Artist and The Grayson Company are proud to announce a new relationship designed to enhance the Fazzino brand and market presence. Central to the relationship will be The Grayson Company’s exclusive representation of Fazzino artwork in many major categories of licensed products, including apparel, electronics, and tabletop. Fazzino is best known for his unique and highly-recognizable three-dimensional artworks. His work is exhibited in fine art galleries and museums in more than twenty countries around the world and he has received hundreds of important and high-profile commissions. He has painted fourteen Super Bowls for the National Football League, eleven Major League Baseball All-Star Games, eight Olympic Games and many more of the world’s most popular events. “We’re excited to be working with a leader in the retail consultancy industry,” said [...]
Kevin was asked to comment on the resignation of Target CEO Gregg Steinhafel. There’s probably more there that we don’t know,” said Kevin Mullaney, president of The Grayson Company, a New York City-based retail industry consultancy. “It’s probably the best deal he would have gotten. He took the blame and responsibility. ... If you look at Gregg’s tenure, Target’s revenues increased, but the net incomes have stagnated.” Revenue has increase 11 percent to $74.8 billion between fiscal years 2010 and 2014, while net income has fallen nearly 12 percent to $2.19 billion in the same period of time. Mullaney says it’s difficult to tell whether Steinhafel is departing mainly because of the massive data breach in December that the company said may have affected “millions of customer credit and debit card records,” or because of Target’s $941 million losses last year in its Canadian expansion. Check out the rest of the article at [...]
Bob commented on the trend of apparel makers using manmade fibers instead of cotton. "I don't believe that this is cyclical—I believe that this is evolutionary," said Bob Grayson, former chief executive of Limited Stores and Lerner New York and founder of Grayson Co., a retail and consumer consulting group. "Just as technology impacts other categories, technology is now impacting fashion." Check out the rest of the article at The Wall Street Journal.
An excellent article headlined “Retailing’s Battlefield: Fight for Market Share” written by Evan Clark appeared in the March 10 edition of WWD. Clark artfully and convincingly made the case of how aggressively and brutally the fight to win today’s consumer’s transactions and loyalty really is, and how strongly success, and even survival, depend on retailers’ constant injection of change into their business strategies—changes in product categories and mix, changes in distribution channels, changes in pricing, changes in the paths used to reach their customers with their marketing messages. I agree that the magnitude and the pace of change have never been greater, but having worked in the retail industry for nearly 50 years, (I started working in an IGA grocery store at age 14), I also note that the industry has always experienced and been driven by significant change. Granted, current changes are dramatic, but in fact they are simply the current [...]
Just finished looking through, and then actually reading, cover to cover, a brilliant marketing piece received from Brooks Brothers. Don’t believe I’ve ever seen a more masterful blend of brand imaging and communication of actual product attributes. So often in our discussions, even with highly respected industry executives, their views on brand building are focused exclusively on advertising, marketing, PR, etc., with little if any attention to the attributes and features of products to be sold under the brand. While the imaging throughout the Brooks Brothers “1818 Lifestyle Magazine” was beautiful and compelling, it was the combination of the imaging and real product information about real product attributes which I’m convinced would ring the bell of both current and prospective customers. What made it all work was that the product attributes were as bull’s eye brand appropriate as the imaging. -The authenticity of Brooks Brothers’ Scottish Tartans, the cashmeres from the oldest [...]