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	<title>Omni-Channel Archives - The Grayson Company</title>
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	<description>A retail and consumer products consulting firm headquartered in New York City</description>
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		<title>Case Study: North America&#8217;s Largest Family of Indoor Water Park Resorts</title>
		<link>https://thegraysoncompany.com/2025/02/05/case-study-north-americas-largest-family-of-indoor-water-park-resorts/</link>
		
		<dc:creator><![CDATA[TGC]]></dc:creator>
		<pubDate>Wed, 05 Feb 2025 19:53:42 +0000</pubDate>
				<category><![CDATA[Hospitality Consulting]]></category>
		<category><![CDATA[Omni-Channel]]></category>
		<category><![CDATA[Retail Consulting]]></category>
		<guid isPermaLink="false">https://thegraysoncompany.com/?p=9237</guid>

					<description><![CDATA[<p>Productivity improvement, assortment rationalization, planning &amp; operational process re-engineering. At TGC, we develop novel,  structured approaches to increase client revenue.  We recently worked with a national resort and active experiential entertainment company to reinvent and re-engineer their grab-and-go convenience shop concept, achieving a dramatic 61.3% improvement in revenue Please contact us to learn more about this  [...]</p>
<p>The post <a href="https://thegraysoncompany.com/2025/02/05/case-study-north-americas-largest-family-of-indoor-water-park-resorts/">Case Study: North America&#8217;s Largest Family of Indoor Water Park Resorts</a> appeared first on <a href="https://thegraysoncompany.com">The Grayson Company</a>.</p>
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										<content:encoded><![CDATA[<h2>Productivity improvement, assortment rationalization, planning &amp; operational process re-engineering.</h2>
<p>At TGC, we develop novel,  structured approaches to increase client revenue.  We recently worked with a national resort and active experiential entertainment company to reinvent and re-engineer their grab-and-go convenience shop concept, achieving a dramatic 61.3% improvement in revenue</p>
<p>Please <a href="https://thegraysoncompany.com/contact-us/">contact us</a> to learn more about this case study.</p>
<p>&nbsp;</p>
<p><a href="https://thegraysoncompany.com/wp-content/uploads/2025/02/Case-Study-N-America-water-park-resorts.png"><img fetchpriority="high" decoding="async" class="alignright size-large wp-image-9233" src="https://thegraysoncompany.com/wp-content/uploads/2025/02/Case-Study-N-America-water-park-resorts-1024x705.png" alt="Case Study N America water park resorts" width="1024" height="705" srcset="https://thegraysoncompany.com/wp-content/uploads/2025/02/Case-Study-N-America-water-park-resorts-200x138.png 200w, https://thegraysoncompany.com/wp-content/uploads/2025/02/Case-Study-N-America-water-park-resorts-300x207.png 300w, https://thegraysoncompany.com/wp-content/uploads/2025/02/Case-Study-N-America-water-park-resorts-400x275.png 400w, https://thegraysoncompany.com/wp-content/uploads/2025/02/Case-Study-N-America-water-park-resorts-600x413.png 600w, https://thegraysoncompany.com/wp-content/uploads/2025/02/Case-Study-N-America-water-park-resorts-768x529.png 768w, https://thegraysoncompany.com/wp-content/uploads/2025/02/Case-Study-N-America-water-park-resorts-800x551.png 800w, https://thegraysoncompany.com/wp-content/uploads/2025/02/Case-Study-N-America-water-park-resorts-1024x705.png 1024w, https://thegraysoncompany.com/wp-content/uploads/2025/02/Case-Study-N-America-water-park-resorts-1200x826.png 1200w, https://thegraysoncompany.com/wp-content/uploads/2025/02/Case-Study-N-America-water-park-resorts.png 1426w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></p>
<p>The post <a href="https://thegraysoncompany.com/2025/02/05/case-study-north-americas-largest-family-of-indoor-water-park-resorts/">Case Study: North America&#8217;s Largest Family of Indoor Water Park Resorts</a> appeared first on <a href="https://thegraysoncompany.com">The Grayson Company</a>.</p>
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		<title>Dash Design Transformative Hotel Project</title>
		<link>https://thegraysoncompany.com/2024/01/28/dash-design-transformative-hotel-project/</link>
		
		<dc:creator><![CDATA[TGC]]></dc:creator>
		<pubDate>Sun, 28 Jan 2024 17:11:51 +0000</pubDate>
				<category><![CDATA[Omni-Channel]]></category>
		<guid isPermaLink="false">https://thegraysoncompany.com/?p=9071</guid>

					<description><![CDATA[<p>Congratulations to our design partner, Dash Design, on this inspiring and transformative hotel project in the heart of NYC. To watch the complete video click this link Dash Design.   Following is more information about the Dash Design Delta Hotel project.   Delta Hotel, nestled in Times Square, debuts as the brand's inaugural NYC  [...]</p>
<p>The post <a href="https://thegraysoncompany.com/2024/01/28/dash-design-transformative-hotel-project/">Dash Design Transformative Hotel Project</a> appeared first on <a href="https://thegraysoncompany.com">The Grayson Company</a>.</p>
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<div class="x_elementToProof">Congratulations to our design partner, Dash Design, on this inspiring and transformative hotel project in the heart of NYC. To watch the complete video click this link <a href="https://www.dashdesign.net/delta-hotel-times-square">Dash Design.</a></div>
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<div><strong>Following is more information about the Dash Design Delta Hotel project. </strong></div>
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<div class="x_elementToProof">Delta Hotel, nestled in Times Square, debuts as the brand&#8217;s inaugural NYC location after a $40 million transformation from Staybridge Suites. The 32-floor tower&#8217;s overhaul included converting 310 extended-stay rooms, revamping the ground floor with a new reception, bar, and restaurant named George’s Nephew, plus renovating the lower lobby. Strategically situated for convenience amid bustling gateways, the hotel embodies Delta&#8217;s &#8220;Simple Made Perfect&#8221; ethos, offering guests a serene retreat in midtown Manhattan. Rooms showcase minimalist design within a compact footprint, promoting efficiency and relaxation. Overcoming design challenges, the hotel seamlessly merges beauty and functionality, embodying neighborhood artistry.</div>
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<p>The post <a href="https://thegraysoncompany.com/2024/01/28/dash-design-transformative-hotel-project/">Dash Design Transformative Hotel Project</a> appeared first on <a href="https://thegraysoncompany.com">The Grayson Company</a>.</p>
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		<title>The Grayson Company Turns 30</title>
		<link>https://thegraysoncompany.com/2023/04/05/the-grayson-company-turns-30/</link>
		
		<dc:creator><![CDATA[TGC]]></dc:creator>
		<pubDate>Wed, 05 Apr 2023 22:51:05 +0000</pubDate>
				<category><![CDATA[Omni-Channel]]></category>
		<category><![CDATA[Retail Consulting]]></category>
		<guid isPermaLink="false">https://thegraysoncompany.com/?p=9009</guid>

					<description><![CDATA[<p>Celebrating our 30th year as a retail strategy consulting firm, I want to take a moment to express my sincere appreciation for your support. Over the past three decades, we have focused on bringing our clients fact-based, data-driven, actionable solutions and perspectives that are practical, objective, and global.  At TGC, we provide our clients the  [...]</p>
<p>The post <a href="https://thegraysoncompany.com/2023/04/05/the-grayson-company-turns-30/">The Grayson Company Turns 30</a> appeared first on <a href="https://thegraysoncompany.com">The Grayson Company</a>.</p>
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										<content:encoded><![CDATA[<p class="reader-text-block__paragraph">Celebrating our 30th year as a retail strategy consulting firm, I want to take a moment to express my sincere appreciation for your support. Over the past three decades, we have focused on bringing our clients fact-based, data-driven, actionable solutions and perspectives that are practical, objective, and global.</p>
<p class="reader-text-block__paragraph"> At TGC, we provide our clients the most experienced industry experts to tackle the most difficult challenges faced by omnichannel retailers, digital natives, vertical brands, and investors around the world. Despite the ups and downs of the industry, we have been able to grow and expand our business, a testament to our business model and our incredible team.</p>
<p class="reader-text-block__paragraph"> With offices in New York and Los Angeles, our reach extends to twenty-six countries across the Americas, Europe, and Asia. Our talented team is distinguished by their deep, hands-on experience and their ability to adapt to the industry&#8217;s rapidly changing landscape.</p>
<p class="reader-text-block__paragraph"> David Ball, our President, and I are both proud to continue the legacy of our founder, Bob Grayson, who retired 7 years ago. We would like to thank our clients for their unwavering support and invite those of you we have not yet served to reach out and let us introduce you to our capabilities.</p>
<p class="reader-text-block__paragraph"> Please do not hesitate to contact us to explore how we might serve you. We look forward to hearing from you soon.</p>
<p class="reader-text-block__paragraph"> Thanks again,</p>
<p class="reader-text-block__paragraph"> Kevin Mullaney</p>
<p>The post <a href="https://thegraysoncompany.com/2023/04/05/the-grayson-company-turns-30/">The Grayson Company Turns 30</a> appeared first on <a href="https://thegraysoncompany.com">The Grayson Company</a>.</p>
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		<title>Farm Rio&#8217;s US Retail Strategy</title>
		<link>https://thegraysoncompany.com/2022/11/03/farm-rios-us-retail-strategy/</link>
		
		<dc:creator><![CDATA[TGC]]></dc:creator>
		<pubDate>Thu, 03 Nov 2022 11:18:35 +0000</pubDate>
				<category><![CDATA[Omni-Channel]]></category>
		<category><![CDATA[Retail Consulting]]></category>
		<guid isPermaLink="false">https://thegraysoncompany.com/?p=8987</guid>

					<description><![CDATA[<p>TGC recently sat down with Daniel Martinez, Farm Rio’s Global Retail Director to discuss his new role, the current state of the business and the US retail strategy that TGC developed with the Farm Rio team. Farm Rio, a vertically integrated Brazilian apparel company that designs, produces, and markets colorful print garments inspired by its  [...]</p>
<p>The post <a href="https://thegraysoncompany.com/2022/11/03/farm-rios-us-retail-strategy/">Farm Rio&#8217;s US Retail Strategy</a> appeared first on <a href="https://thegraysoncompany.com">The Grayson Company</a>.</p>
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										<content:encoded><![CDATA[<h1>TGC recently sat down with Daniel Martinez, Farm Rio’s Global Retail Director to discuss his new role, the current state of the business and the US retail strategy that TGC developed with the Farm Rio team.</h1>
<p><a href="https://thegraysoncompany.com/wp-content/uploads/2022/11/Farm-Rio-.png"><img decoding="async" class="alignright size-medium wp-image-8992" src="https://thegraysoncompany.com/wp-content/uploads/2022/11/Farm-Rio-.png" alt="" width="210" height="110" srcset="https://thegraysoncompany.com/wp-content/uploads/2022/11/Farm-Rio--200x105.png 200w, https://thegraysoncompany.com/wp-content/uploads/2022/11/Farm-Rio-.png 210w" sizes="(max-width: 210px) 100vw, 210px" /></a>Farm Rio, a vertically integrated Brazilian apparel company that designs, produces, and markets colorful print garments inspired by its local cultural and environmental roots, was founded in 1997 by Marcello Bastos and Katia Barros. In 2010, it became part of the newly created Grupo Soma, a multi-brand company which has grown to be one of the largest apparel groups in Brazil.</p>
<p>The brand began planning for its US debut in 2018 and a year later opened a store in the SoHo section of New York and then one north of Miami in Aventura Mall, along with a few experimental pop-up stores in select markets. Within a year of opening stores, COVID hit. Against all odds, Farm Rio’s US sales grew within 3 years from zero to $50 million, fueled by a strong and differentiated product and brand aesthetic and a multi-pronged distribution strategy that encompasses stores, e-commerce, and most critically, a robust wholesale network that includes Neiman Marcus and Nordstrom, among others. <a href="https://thegraysoncompany.com/wp-content/uploads/2022/11/Farm-Rio-Retail-Omni-Channel.png"><img decoding="async" class="alignright size-medium wp-image-8989" src="https://thegraysoncompany.com/wp-content/uploads/2022/11/Farm-Rio-Retail-Omni-Channel-300x200.png" alt="" width="300" height="200" srcset="https://thegraysoncompany.com/wp-content/uploads/2022/11/Farm-Rio-Retail-Omni-Channel-200x133.png 200w, https://thegraysoncompany.com/wp-content/uploads/2022/11/Farm-Rio-Retail-Omni-Channel-300x200.png 300w, https://thegraysoncompany.com/wp-content/uploads/2022/11/Farm-Rio-Retail-Omni-Channel-400x266.png 400w, https://thegraysoncompany.com/wp-content/uploads/2022/11/Farm-Rio-Retail-Omni-Channel.png 476w" sizes="(max-width: 300px) 100vw, 300px" /></a></p>
<p>In the next five years, Farm Rio plans to open between 25 and 40 new stores in the US, in addition to SOHO, Aventura, and a recently added store in the Venice section of Los Angeles. Fabio Barreto, CEO of Farm Rio Global, engaged The Grayson Company (TGC) to assist in defining and navigating Farm Rio’s expansion plan for the United States.</p>
<p>TGC recently sat down with Daniel Martinez, Farm Rio’s Global Retail Director to discuss his new role, the current state of the business and the US retail strategy that TGC developed with the Farm Rio team.</p>
<p><strong><em>TGC:</em></strong> Our work with you included two phases: first, devising a store operating model to maximize productivity and profitability; and second, developing a store expansion/location strategy including identifying descriptive customer geodemographics, clusters of likely customers and shopping centers/districts that serve them, and an estimate for US store location growth potential. What were the most important learnings that came from the project?</p>
<p><strong><em>Daniel:</em></strong> We learned a great deal, but our key learnings can be classified into four buckets-</p>
<p><strong>First, understanding the customer </strong>by using sales and customer data to clearly define our US customer. The entire team, including the CEO, was very impressed with TGC’s methodology using sales information available via wholesale, retail, and e-commerce channels to paint a picture of who the client is by deploying geodemographic segmentation as well as AI analysis of cell phone tracking data, and then finding population clusters of look-alike customers across the entire US.</p>
<p><strong>Second, site selection strategy.</strong> The customer analytics made site identification very easy for us and also makes it easy to understand how to prioritize new stores based on where we find more households and a bigger penetration. This methodology gave us a very data-driven approach to selecting the MSAs that are best for the brand. The detailed maps TGC provided within the MSAs that identified the concentrations of our customers, the centers and shopping districts at which they shop, and competitor locations give us detailed information on how to proceed and prioritize our expansion.</p>
<p><strong>Third, store growth potential for the US and the need to populate a pipeline.</strong> We had no idea at first about how many stores we could have in the United States. TGC’s deliverable gave us an idea of how many total stores were possible. Post-COVID with everyone switching back to physical retail locations we need to be competitive. Using the customer, site selection, and store growth information and analytic methodology we could present a strong case for growth to our investors. The list of stores is broad but very specific with enough locations identified that I can be patient and confident in my decisions. I don’t need to accept a bad deal in Brooklyn because I have so many other potential locations in LA and San Francisco. Austin is a great example of a market in the pipeline for which we are exercising patience. The data shows that we could have a store there and we would love to, but at the moment it is hard to find a space.</p>
<p><strong>Fourth, the need for a US-centric retail organizational structure</strong>, skill sets, and operating model that empowers the US team to think and act outside the box. Neither Aventura or SOHO had 12 months of operational history before COVID hit the US. Some of the learnings TGC shared were eye-openers for us. We were operating the way we were accustomed to in Brazil, but you made it clear that we needed a US-centric structure with US-based leadership. One of the key take-aways for the stores was TGC’s “Echo-Amplify” framework for best sellers. Before, our visuals focused purely on what looked good. After the insights, we now consider what is selling as well as what looks good together. You were able to convince the visual team of the effectiveness of this approach as well. We have hired a new manager at our Venice store with very strong experience in the US and we have empowered her to think outside the box using this new US-focused approach and the new recommended merchandising, working culture along with Clientelling. That store is now our top performer, with the highest sales per square foot, conversion, and average transaction value.</p>
<p>I inherited the TGC project when it was nearing completion.   My only regret is that I was not part of the project from the beginning. But in the end, it didn’t matter because the project was such a success.</p>
<p>We knew there were no simple solutions or silver bullets, and Farm Rio even changed the scope multiple times during the project. TGC was very flexible and not only delivered great recommendations, but the recommendations were very actionable. We are highly pleased with the results.</p>
<p><em><a href="https://thegraysoncompany.com/wp-content/uploads/2022/11/TGC.png"><img decoding="async" class="alignright size-full wp-image-8993" src="https://thegraysoncompany.com/wp-content/uploads/2022/11/TGC.png" alt="TGC" width="168" height="65" /></a>TGC is a consulting group that offers a full range of consulting services to retail, ecommerce, wholesale, and omni-channel businesses, as well as investment firms focused on the consumer sector. Our team brings “best of breed” resources to bear on every functional area of the business</em>.</p>
<p>The post <a href="https://thegraysoncompany.com/2022/11/03/farm-rios-us-retail-strategy/">Farm Rio&#8217;s US Retail Strategy</a> appeared first on <a href="https://thegraysoncompany.com">The Grayson Company</a>.</p>
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		<title>Ten brands founded 10 years ago and how they’ve succeeded</title>
		<link>https://thegraysoncompany.com/2021/09/08/ten-brands-founded-10-years-ago-and-how-theyve-succeeded/</link>
		
		<dc:creator><![CDATA[TGC]]></dc:creator>
		<pubDate>Wed, 08 Sep 2021 10:52:19 +0000</pubDate>
				<category><![CDATA[Omni-Channel]]></category>
		<category><![CDATA[Retail Consulting]]></category>
		<category><![CDATA[Wholesale / Ecommerce]]></category>
		<guid isPermaLink="false">https://thegraysoncompany.com/?p=8936</guid>

					<description><![CDATA[<p>David Ball speaks with the NRF about the success of 10 brands founded 10 years ago. Tin and aluminum are traditional gifts for couples celebrating their 10th wedding anniversary. While perhaps not as glamourous as crystal (reserved for 15 years) or bronze (eight years), these materials embody pliability and strength. Retailers who make it to  [...]</p>
<p>The post <a href="https://thegraysoncompany.com/2021/09/08/ten-brands-founded-10-years-ago-and-how-theyve-succeeded/">Ten brands founded 10 years ago and how they’ve succeeded</a> appeared first on <a href="https://thegraysoncompany.com">The Grayson Company</a>.</p>
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										<content:encoded><![CDATA[<h1>David Ball speaks with the NRF about the success of 10 brands founded 10 years ago.</h1>
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<p>Tin and aluminum are traditional gifts for couples celebrating their 10th wedding anniversary. While perhaps not as glamourous as crystal (reserved for 15 years) or bronze (eight years), these materials embody pliability and strength.</p>
<p>Retailers who make it to their 10 -year anniversary also have had to draw on these qualities. Many of the brands that launched in 2011 and continue to thrive reinvented prevailing business models. Most embraced the growing range of commerce: ecommerce, mobile commerce, re-commerce and social commerce, often along with bricks-and-mortar stores. While their products and customer bases differ, a few themes are common.</p>
<h2>They’re digital and direct-to-consumer</h2>
<blockquote><p>By going directly to consumers, these brands can bypass many middlemen, says David Ball, president of consulting firm The Grayson Company.</p></blockquote>
<p>As digitally native vertical brands, the companies typically address at least one of several problems: enhancing how customers access the brand, improving the product through innovation, offering better prices, etc.</p>
<h2>They’re also in bricks-and-mortar</h2>
<blockquote><p>For many retailers, a mix of online and retail stores offers synergies in customer acquisition and retention. The result? Growth paths that are steeper than many single-channel businesses can attain, Ball says.</p></blockquote>
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<p>Read the full article by clicking on this link to the National Retail Federation (NRF) website: <a href="https://nrf.com/blog/ten-brands-founded-10-years-ago-and-how-theyve-succeeded"><span class="field field--name-title field--type-string field--label-hidden">Ten brands founded 10 years ago and how they’ve succeeded</span></a></p>
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<p>The post <a href="https://thegraysoncompany.com/2021/09/08/ten-brands-founded-10-years-ago-and-how-theyve-succeeded/">Ten brands founded 10 years ago and how they’ve succeeded</a> appeared first on <a href="https://thegraysoncompany.com">The Grayson Company</a>.</p>
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		<title>Steve Goldberg Shares Thoughts on #GrabYourWallet</title>
		<link>https://thegraysoncompany.com/2018/03/16/steve-goldberg-shares-thoughts-on-grabyourwallet/</link>
		
		<dc:creator><![CDATA[TGC]]></dc:creator>
		<pubDate>Fri, 16 Mar 2018 13:47:47 +0000</pubDate>
				<category><![CDATA[All]]></category>
		<category><![CDATA[Omni-Channel]]></category>
		<guid isPermaLink="false">https://thegraysoncompany.com/?p=8015</guid>

					<description><![CDATA[<p>Managing the reality of consumers protesting with their wallets By STORES Contributor on March 12, 2018 Business Operations, Consumer Trends A quick game of word association, anyone? What’s the first thing that comes to mind when someone says “Uber?” United Airlines? Chick-fil-A? Even, depending on how long one has been around, Tylenol? Each of these  [...]</p>
<p>The post <a href="https://thegraysoncompany.com/2018/03/16/steve-goldberg-shares-thoughts-on-grabyourwallet/">Steve Goldberg Shares Thoughts on #GrabYourWallet</a> appeared first on <a href="https://thegraysoncompany.com">The Grayson Company</a>.</p>
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<h1 class="post-title item fn">Managing the reality of consumers protesting with their wallets</h1>
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<div class="post-meta cf"><span class="posted-by">By <span class="reviewer"><a title="Posts by STORES Contributor" href="https://stores.org/author/stores-contributor/" rel="author">STORES Contributor</a></span> </span> <span class="posted-on">on <span class="dtreviewed"> <time class="value-title" title="2018-03-12" datetime="2018-03-12T07:00:00+00:00">March 12, 2018</time> </span> </span> <span class="cats"><a href="https://stores.org/category/business-operations/" rel="category tag">Business Operations</a>, <a href="https://stores.org/category/consumer-trends/" rel="category tag">Consumer Trends</a></span></div>
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<p>A quick game of word association, anyone?</p>
<p>What’s the first thing that comes to mind when someone says “Uber?” United Airlines? Chick-fil-A? Even, depending on how long one has been around, Tylenol?</p>
<p>Each of these brands has been threatened by a boycotting public for one reason or another. Polarizing political stances, inappropriate behavior and/or statements, safety issues, perceived deception, you name it. Numerous brands have inspired the kind of strong emotions in consumers that no one wants to experience. And with the ever-increasing pool of public and private figures under fire, there’s bound to be more indignation to come.</p>
<p>The challenge is that social media helps spread issues and passions like wildfire. But therein might also be a benefit: The flame that burns twice as bright, it’s long been said, burns half as long. Issues come, issues go and it doesn’t take long before something else appears in our feeds to strike another match.</p>
<p>“Social media provides a platform for people to have these conversations that didn’t exist 10 years ago,” says Barbara E. Kahn, a professor of marketing and former director of the Jay H. Baker Retailing Center at The Wharton School.</p>
<p>“But from what I’ve understood, there could be lot of negative activity on social media, and that doesn’t necessarily translate into changes in purchase behavior or sales.” Chick-fil-A, enduring its chief operating officer’s controversial stance against same-sex marriage in 2012, is a “great example,” she says.</p>
<p>“A lot of people were outraged, but some of them still went and had a chicken sandwich on the way home. I’m not saying that’s always the case. There are people who are more sincere about it. And it’s not that people’s beliefs are superficial. They can be deeply held beliefs. But it’s another thing to really change habitual behavior.”</p>
<blockquote class="modern-quote full"><p>As Millennials continue to grow in influence, the landscape of boycotts and their impact on purchasing behavior may shift.</p></blockquote>
<h5>Timing, transparency and loyalty</h5>
<p>This past year, emotions were frequently stirred by one name: Trump. Consumers were urged to boycott retailers who carried the clothing line of presidential daughter Ivanka Trump, and some claimed her father has helped foster a more easily whipped-up social media environment overall.</p>
<p>“With <div class="fusion-fullwidth fullwidth-box fusion-builder-row-2 hundred-percent-fullwidth non-hundred-percent-height-scrolling" style="--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-overflow:visible;--awb-flex-wrap:wrap;" ><div class="fusion-builder-row fusion-row"><div class="fusion-layout-column fusion_builder_column fusion-builder-column-1 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last fusion-column-no-min-height" style="--awb-bg-size:cover;--awb-margin-bottom:0px;"><div class="fusion-column-wrapper fusion-flex-column-wrapper-legacy">[President] Trump tweeting and expressing displeasure with this or that frequently during the day, in some sense, he gives people his blessing to do that, too,” Kahn says. “In terms of the zeitgeist, people are used to this kind of behavior.”</p>
<p>So why do some brands survive boycotts and negativity, while others go down in flames? Many factors play in, the experts say: timing, transparency, loyalty, a willingness to own up to mistakes and, in some cases, the nature of the issue.</p>
<p><a href="https://today.yougov.com/news/2017/03/08/two-thirds-US-adults-support-boycotting-brands/" target="_blank" rel="noopener">YouGov</a>, an international internet-based market research and data analytics firm, discovered in 2017 that two-thirds of adults in the United States support boycotting a brand over politics. Between November 2016 and February 2017, according to YouGov, 31 percent of U.S. adults increased their level of support for a specific cause. The causes at the top of the list were immigration, women’s rights, diversity and inclusion, education and the environment. <a href="https://www.fastcompany.com/3065651/consumer-interest-in-ivanka-trumps-brand-has-fallen-since-the-boycott-began" target="_blank" rel="noopener"><em>Fast Company</em></a> reported in November 2016 that interest in Ivanka Trump’s brand dropped 54 percent in the first few weeks of the related #GrabYourWallet boycott, and a number of retailers did stop carrying the brand.</p>
<p>“The decision about Ivanka Trump was driven in a confluence of emotion between consumers on the one hand and on the part of the management of companies on the other hand who are somewhat like-minded to the sensitivities around her brand,” says Steve Goldberg, president of retail consulting firm The Grayson Company.</p>
<p>That boycott was about the place, time — and person — rather than product.</p>
<p>Other brands, however, have faced the need to rebuild trust when a product or service goes awry. Think of Tylenol, which faced consumer concerns about its safety in the early 1980s thanks to high-profile tampering and seven deaths. The company acted swiftly and openly, issuing a large-scale recall of 31 million bottles, offering free replacement products in tablet form and coming back with tamper-proof packaging just two months later. The incident set the standard for recalls of other brands and products that followed.</p>
<p>Now, Goldberg says, “We see it every season in the toy industry or the kids’ product industry. It’s important for companies to use all the tools and make sure they’re shouting it loud and clear. Where there’s brand impairment, or the brand is being associated with something bad that has happened, the company has to step up and own it.”</p>
<h5>Seizing the moment</h5>
<p>A little brand loyalty doesn’t hurt, either. In recent years, Blue Bell ice cream was plagued by consumer infections and deaths related to Listeria in its products. The company was criticized for the rate at which it responded to the issues. But the Texas-based brand maintains a solid following, rather than facing a boycott.</p>
<p>Then there’s United Airlines, which did face a boycott by an outraged public last April when video showed a passenger being dragged off an airplane.</p>
<p>“Has that had a lasting effect? Absolutely not,” Goldberg says. “Why? Because people, skeptics and cynics, anybody who flies an airline, it doesn’t matter who, they all hate every airline. United took a hit for a little while, but consumers don’t have a lot of choices in that regard. United Airlines is a pretty good example of really bad behavior, and a really bad response, that had some initial impact, but didn’t last.”</p>
<blockquote class="modern-quote full"><p>All other things being equal, brands wanting to survive a temperamental public today must offer something unique.</p></blockquote>
<p>The level of impact, he says, is situational. “If you think about an X axis and Y axis of responses, some are emotional and some are about expediency. If you look at the political climate, that’s way too complicated to even try to rationalize. If you look at United Airlines, that’s about expediency, because those choices are quite narrow.”</p>
<p>Those “choices,” however, can change over time. Uber, for example, came under fire at the start of 2017 for sending drivers to a New York airport during a taxi-driver strike. The strike was in protest of the Trump administration’s travel ban for nationals of particular majority-Muslim countries, and many consumers were not pleased.</p>
<p>“With Uber, two years ago, when it was really hot and emergent, maybe consumers didn’t think they had a choice,” Goldberg says. “Today they have a lot of choices, and can vote those choices quite easily. Impact flows around those axes and sets of considerations, whether there are choices or not, and whether people can make those decisions.”</p>
<p>Kahn notes how Lyft seized the moment of Uber’s downfall with price promotions and other tactics. “They aggressively took that opportunity and I think people responded to that,” she says. “You might feel one thing about a company, but if there’s no alternative, it’s harder to respond. If a competitor comes in and offers a reasonable alternative with the right political values and it’s easier to do it, why not?”</p>
<h5>Positioning around purpose</h5>
<p>Uber and Lyft bring up the challenge of ease and convenience versus buying elsewhere for a different experience. All other things being equal, brands wanting to survive a temperamental public today must offer something unique. It may be found in a clearly defined purpose, something that helps consumers offer the benefit of the doubt even when troubles come.</p>
<p>“When you choose to position your brand around a purpose, it’s intrinsically about who you are,” says Mitch Duckler, managing partner at brand strategy consulting firm FullSurge. “And if you chose that path, you need to remain true to it. There are pros and cons to purpose branding. Your purpose is not going to appeal to everyone and you may very well alienate someone who cannot relate to — or even objects to — your purpose. You have to be willing to accept that.</p>
<p>“But in reality, it’s not that different with traditional branding. Even when your positioning is more externally based, you identify a target segment and a positioning that appeals to it. In doing so, you’re probably alienating another segment — or at the very least, not appealing to it. At the end of the day, branding (whether purpose-based or more traditional) requires you to make tradeoffs and to not try to be everything to everyone.”</p>
<p>In terms of weathering the storms, Duckler believes the establishment of a strong brand is akin to “making a deposit in a bank account. You have positive equity that can help get you through difficult times.” One of the reasons BP survived the 2010 Deepwater Horizon oil spill and is still around today, he says, “is because it had built up so much goodwill with its brand over the years, especially around its concern over climate change.”</p>
<p>Social media and the internet may allow bad news to spread more quickly, but they also make it easier than ever before to develop positive relationships with consumers, rather than just transactions. In some cases, that means being willing to step out and make statements — even if they won’t be accepted by all consumers. Kahn believes businesses are being asked to be corporate citizens of the world in ways they previously haven’t.</p>
<p>“That being says, it makes good business sense to stay away from things that are polarizing,” she says. “You have to be business-first. You can say the right things, and I think people are expecting CEOS to be aware of that and not have their heads in the sand.”</p>
<p>Goldberg adds that many companies have aligned themselves with good causes, and are able to connect with customers and consumers on those levels. “They recognize that consumers feel good or like it when the company they’ve patronized is doing something right or something good,” he says. “That’s a real thing.” Here, he mentions Tom’s of Maine, which has built loyalty through transparency and use of naturally sourced ingredients.</p>
<h5>Influencing behavior</h5>
<p>YouGov’s recent report, “Taking a Stand: Brands, Social Good &amp; Consumer Expectations,” points out a difference between Millennials and Baby Boomers when it comes to companies taking a stand on social issues; half of Millennials approve of taking a public stance, but only 27 percent of those aged 55 and older do. Millennials in particular believe concern for the environment is good for business.</p>
<p>As Millennials continue to grow in influence, the landscape of boycotts and their impact on purchasing behavior may shift. For now, however, it appears that even after a boycott, many consumers will return. If they don’t, it’s still not so easy to pinpoint the reasons why.</p>
<p>“There are some things that are hard to recover from, and it’s difficult to test that hypothesis, because there are so many things going on in the marketplace,” Kahn says. “It’s hard to say they didn’t come back because of that, or because it was just easier to shop online with Amazon. When you think of an ordeal and Amazon just seems easier, it’s kind of a no-brainer to go there. Retailers try to give you a reason to buy from them rather than on Amazon, whether it’s brand identity, or building a customer experience in stores, or improving quality of life. How all of that intersects when there’s a boycott is just so complicated.”</p>
<p>Goldberg does believe that consumers might be influenced to behave differently in the long term.<br />
“I’m waiting to see what happens in movies, with those that have Harvey Weinstein’s name on them,” he says, referring to the disgraced film producer accused of sexual misconduct by a large number of women.</p>
<p>“Most consumers aren’t so aware of that. They’re aware of the star, and not the producer so much, but when the star falls out of grace, or somebody has done something, that’s when we really have our radar detectors up. Does that cause consumers to say, ‘I’m not going to spend my money and patronize those movies?’ I don’t know. But the same will be true of companies.”</p>
<p><em>Fiona Soltes, a freelancer based near Nashville, Tenn., loves a good bargain almost as much as she loves a good story.</em><a href="https://thegraysoncompany.com/wp-content/uploads/2018/03/shutterstock_234235468-1078x516.jpg"><img decoding="async" class="alignnone size-full wp-image-8016" src="https://thegraysoncompany.com/wp-content/uploads/2018/03/shutterstock_234235468-1078x516.jpg" alt="" width="1078" height="516" srcset="https://thegraysoncompany.com/wp-content/uploads/2018/03/shutterstock_234235468-1078x516-300x144.jpg 300w, https://thegraysoncompany.com/wp-content/uploads/2018/03/shutterstock_234235468-1078x516-768x368.jpg 768w, https://thegraysoncompany.com/wp-content/uploads/2018/03/shutterstock_234235468-1078x516-1024x490.jpg 1024w, https://thegraysoncompany.com/wp-content/uploads/2018/03/shutterstock_234235468-1078x516.jpg 1078w" sizes="(max-width: 1078px) 100vw, 1078px" /></a></p>
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<p>The post <a href="https://thegraysoncompany.com/2018/03/16/steve-goldberg-shares-thoughts-on-grabyourwallet/">Steve Goldberg Shares Thoughts on #GrabYourWallet</a> appeared first on <a href="https://thegraysoncompany.com">The Grayson Company</a>.</p>
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		<title>The Five Best Omni-Channel Retailers</title>
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		<pubDate>Fri, 05 Jan 2018 17:20:55 +0000</pubDate>
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					<description><![CDATA[<p>National Real Estate Investor January 4, 2018 By Donna Mitchell As the retail industry heads into 2018, retail experts say companies like the ones listed here will find a way to master online retailing. Online retailing is often cast as an outlier threatening to decimate the traditional brick-and-mortar retail business. While industry experts no longer  [...]</p>
<p>The post <a href="https://thegraysoncompany.com/2018/01/05/five-best-omni-channel-retailers/">The Five Best Omni-Channel Retailers</a> appeared first on <a href="https://thegraysoncompany.com">The Grayson Company</a>.</p>
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<div>National Real Estate Investor</div>
<div>January 4, 2018</div>
<div>By Donna Mitchell</div>
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<div class="field field-name-field-penton-content-summary field-type-text-long field-label-hidden">As the retail industry heads into 2018, retail experts say companies like the ones listed here will find a way to master online retailing.</div>
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<p><strong>Online retailing is often cast</strong> as an outlier threatening to decimate the traditional brick-and-mortar retail business. While industry experts no longer fear such a drastic outcome, omni-channel retailers have been making moves recently that are difficult to ignore. The U.S. Department of Commerce holds that <a href="mailto:https://www.census.gov/retail/mrts/www/data/pdf/ec_current.pdf">e-commerce accounts for 9 percent of all retail purchases</a>, according to the agency’s third quarter 2017 data.</p>
<p>That number is expected to grow. Online sales will reach about $100 billion in 2017, predicted Ben Conwell, a senior managing director at real estate services firm Cushman and Wakefield and its e-commerce advisory group lead, during a recent webcast about 2017 holiday sales expectations.</p>
<p>Yet retail real estate experts do not foresee an apocalypse, and instead give credit to retailers who successfully embrace technology as a tool to enhance their brick-and-mortar business. Omni-channel retailing is about placing the consumer at the center of the shopping eco-system, according to professionals at The Grayson Co., a New York City-based retail consulting firm. The customer gets to decide when she wants the product and where she wants to get the product, says Steve Goldberg, president of The Grayson Co. She might want it delivered to her store of choice for pick-up, have it shipped to her home or place of business or shipped to someone else. She might also want the option to return it to a physical store or to mail the return back.</p>
<p>“Not all the stores that we’re talking about <div class="fusion-fullwidth fullwidth-box fusion-builder-row-3 hundred-percent-fullwidth non-hundred-percent-height-scrolling" style="--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-overflow:visible;--awb-flex-wrap:wrap;" ><div class="fusion-builder-row fusion-row"><div class="fusion-layout-column fusion_builder_column fusion-builder-column-2 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last fusion-column-no-min-height" style="--awb-bg-size:cover;--awb-margin-bottom:0px;"><div class="fusion-column-wrapper fusion-flex-column-wrapper-legacy">[in the slideshow] seamlessly allow these things,” Goldberg says. “In some environments they have learned to take the friction out of that process, and in other environments they haven’t.”</p>
<p>Williams-Sonoma and Nordstrom are credited with pioneering omni-channel retailing, and Goldberg asserts that the former did so in its purest form early on. Willams-Sonoma understood what direct-to-consumer meant before any of the other brick-and-mortar entities, he notes.</p>
<p>“Their brand started out as a catalog company,” Goldberg says. “Later they engaged in a brick-and-mortar context, and later they then engaged the consumer online and harmonized those channels.”</p>
<p>Retailers who are successful at integrating e-commerce and brick-and-mortar operations made a large initial capital investment and have never stopped investing, says Jan Kniffen, CEO of J. Rogers Kniffen Worldwide Enterprises, a New York City-based equity research and financial management consulting firm specializing in retail. This involves more than listing products online and offering store pick-ups, Kniffen said.</p>
<p>“If you can afford it, you can be a serious player because you can just continue,” Kniffen says. “That is the problem, and that is also good news. It is not like when you build the store and it sits there for eight years and you remodel. The internet gets rebuilt every year for every one of these guys, and the investment level never goes down.”</p>
<p>As the retail industry heads into 2018, retail experts say companies like the ones listed here will find a way to master online retailing, and do so in a way that preserves their brick-and-mortar presence.</p>
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<p>http://www.nreionline.com/retail/five-best-omni-channel-retailers</p>
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<p>The post <a href="https://thegraysoncompany.com/2018/01/05/five-best-omni-channel-retailers/">The Five Best Omni-Channel Retailers</a> appeared first on <a href="https://thegraysoncompany.com">The Grayson Company</a>.</p>
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		<title>Return on Relationship (ROR) &#8211; The New Critical Retail Metric</title>
		<link>https://thegraysoncompany.com/2017/11/07/return-on-relationship/</link>
		
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		<pubDate>Tue, 07 Nov 2017 14:05:30 +0000</pubDate>
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					<description><![CDATA[<p>Relationships are the new currency and will continue to drive changes in overall consumer behavior and especially shopping patterns. The way people shop and purchase is changing, driven by dynamic shifts in technology as well as culture and lifestyle. Consumers want more from where they shop. They value community and favor unique experiences over material  [...]</p>
<p>The post <a href="https://thegraysoncompany.com/2017/11/07/return-on-relationship/">Return on Relationship (ROR) &#8211; The New Critical Retail Metric</a> appeared first on <a href="https://thegraysoncompany.com">The Grayson Company</a>.</p>
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										<content:encoded><![CDATA[<h2><strong>Relationships are the new currency and will continue to drive changes in overall consumer behavior and especially shopping patterns.</strong></h2>
<p>The way people shop and purchase is changing, driven by dynamic shifts in technology as well as culture and lifestyle. Consumers want more from where they shop. They value community and favor unique experiences over material goods (“stuff”). This is true for consumers of all types, consider this, 1 in 3 people in the world are on Facebook.</p>
<p>The retail industry is embracing consumers’ desire for thoughtful commerce. Researched and considered purchases, sustain-ability, community, sharing, personalized, mission-driven, social selling, giving back, influencers, resale and re-use are all becoming critical elements of retail and consumer experiences today.</p>
<p>Relationships are the new currency and will continue to drive changes in overall consumer behavior and especially shopping patterns. Return on Relationship will be the new performance metric.</p>
<h2><strong>Table Stakes &#8211; Have a Reason for Being and Deliver it Anytime, Anyplace</strong></h2>
<p>Authenticity is a key element driving success across industries today. Consumers consider themselves to be the center of the retail and experiential ecosystem today. As a result, they are becoming more and more channel agnostic, preferring to transact and engage whenever, wherever and through whatever channel they choose. No matter where, when, or how they choose to engage, they expect a consistent, high-quality experience every time.</p>
<p><a href="https://thegraysoncompany.com/wp-content/uploads/2017/11/Amazon-GO.png"><img decoding="async" class="aligncenter wp-image-7944 size-full" src="https://thegraysoncompany.com/wp-content/uploads/2017/11/Amazon-GO.png" alt="" width="1392" height="284" srcset="https://thegraysoncompany.com/wp-content/uploads/2017/11/Amazon-GO-300x61.png 300w, https://thegraysoncompany.com/wp-content/uploads/2017/11/Amazon-GO-768x157.png 768w, https://thegraysoncompany.com/wp-content/uploads/2017/11/Amazon-GO-1024x209.png 1024w, https://thegraysoncompany.com/wp-content/uploads/2017/11/Amazon-GO.png 1392w" sizes="(max-width: 1392px) 100vw, 1392px" /></a></p>
<p>Technology has made information, education, ideas and experiences more accessible than ever before. It has become a foundational element of the new retail world. Technology has already changed the way retail is conducted, and will continue to do so in the future.</p>
<p>Some of the technologies “disrupting” today’s retail landscape are:</p>
<p>Experiences through Virtual Reality – allows consumers to take part in experiences outside of their immediate physical area.</p>
<p>Payment as Social Currency (such as Venmo / Apple Pay / WeChat / PayPal) – new methods of payment are making transacting not only easier, but social</p>
<p>Personal Recommendations through Augmented Reality – the ability to provide real-time recommendations in the physical retail environment.</p>
<h2><strong>Current Trends</strong></h2>
<p><strong>MISSION-DRIVEN</strong></p>
<p><a href="https://thegraysoncompany.com/wp-content/uploads/2017/11/FEED.png"><img decoding="async" class="alignnone wp-image-7945 " src="https://thegraysoncompany.com/wp-content/uploads/2017/11/FEED.png" alt="" width="491" height="426" srcset="https://thegraysoncompany.com/wp-content/uploads/2017/11/FEED-300x260.png 300w, https://thegraysoncompany.com/wp-content/uploads/2017/11/FEED.png 623w" sizes="(max-width: 491px) 100vw, 491px" /></a></p>
<p>Consumers prefer to shop where their needs are best met, however, when given a choice, they are more likely to shop brands that reflect and support the things they believe in, stand for and support.</p>
<p><em>Examples &#8211; Feed, World Wild Life Fund, Moma</em></p>
<p><strong>COMMUNITY</strong></p>
<p><a href="https://thegraysoncompany.com/wp-content/uploads/2017/11/Apple.png"><img decoding="async" class="alignnone wp-image-7946 " src="https://thegraysoncompany.com/wp-content/uploads/2017/11/Apple.png" alt="" width="478" height="267" srcset="https://thegraysoncompany.com/wp-content/uploads/2017/11/Apple-300x168.png 300w, https://thegraysoncompany.com/wp-content/uploads/2017/11/Apple.png 598w" sizes="(max-width: 478px) 100vw, 478px" /></a></p>
<p>Today’s consumer wants to create memorable experiences, and wants to share those experiences and ideas with a community.</p>
<p><em>Examples &#8211; Apple, Lululemon, Eataly, Starbucks</em></p>
<p><strong>INSPIRATIONAL</strong></p>
<p><a href="https://thegraysoncompany.com/wp-content/uploads/2017/11/SpaceX.png"><img decoding="async" class="alignnone wp-image-7947 " src="https://thegraysoncompany.com/wp-content/uploads/2017/11/SpaceX.png" alt="" width="480" height="415" srcset="https://thegraysoncompany.com/wp-content/uploads/2017/11/SpaceX-300x260.png 300w, https://thegraysoncompany.com/wp-content/uploads/2017/11/SpaceX.png 624w" sizes="(max-width: 480px) 100vw, 480px" /></a></p>
<p>Social selling and influencers are playing an increasingly vital role in the decisions of consumers. Whether it be through social media and peer sharing, curated editorials, digital personal stylists, or via a celebrity or political endorsement, people are increasingly inspired by others and not brand-generated messages.</p>
<p><em>Examples &#8211; Toms, Tesla</em></p>
<p><strong>ANYTIME ANYWHERE</strong></p>
<p><a href="https://thegraysoncompany.com/wp-content/uploads/2017/11/Starbucks.jpg"><img decoding="async" class="alignnone wp-image-7948 " src="https://thegraysoncompany.com/wp-content/uploads/2017/11/Starbucks-1024x573.jpg" alt="" width="533" height="298" srcset="https://thegraysoncompany.com/wp-content/uploads/2017/11/Starbucks-300x168.jpg 300w, https://thegraysoncompany.com/wp-content/uploads/2017/11/Starbucks-768x430.jpg 768w, https://thegraysoncompany.com/wp-content/uploads/2017/11/Starbucks-1024x573.jpg 1024w, https://thegraysoncompany.com/wp-content/uploads/2017/11/Starbucks.jpg 1249w" sizes="(max-width: 533px) 100vw, 533px" /></a></p>
<p>Consumers are increasingly channel agnostic. Traditional constraints are being left behind as customers drive retail format and channel innovation, from mobile shopping, to self-check outs, to crowd sourced buying blocks. Retail is no longer a fixed or static commodity.</p>
<p><em>Examples &#8211; Amazon, Starbucks, Sephora, Peloton</em></p>
<p><strong>SHARED</strong></p>
<p>We live in a sharing economy, sharing of ideas, sharing of economics, sharing the experience, sharing resources, sharing our time, sharing transportation, even sharing our homes. Pooling resources, thoughts and ideas has become an enabler within our connected society. Sharing based business such as Zipcar, Yelp and AirBnB reinforce these shifts in consumer behavior</p>
<p><em>Examples &#8211; Zipcar, Yelp, AirBnB, ebay, Rent the Runway,</em></p>
<p><strong>PERSONALIZED</strong></p>
<p><img decoding="async" class="alignnone wp-image-7949 " src="https://thegraysoncompany.com/wp-content/uploads/2017/11/Nike.png" alt="" width="462" height="447" srcset="https://thegraysoncompany.com/wp-content/uploads/2017/11/Nike-52x50.png 52w, https://thegraysoncompany.com/wp-content/uploads/2017/11/Nike-300x290.png 300w, https://thegraysoncompany.com/wp-content/uploads/2017/11/Nike.png 515w" sizes="(max-width: 462px) 100vw, 462px" /></p>
<p>Personalization is growing inimportance. Having something made for you, or even made by you, creates a more meaningful and tailored experience. New technologies are democratizing personalized product, services and experiences. At the same time, artificial Intelligence capabilities are personalizing the types of products presented to consumers as a result of their preferences and “opt in” profiles.</p>
<p><em>Examples &#8211; Lululemon, Coca Cola, Nike, Instagram, Spotify</em></p>
<p><strong>Living Breathing Evolving</strong></p>
<p>Today’s consumer landscape is in a state of continual change and evolution, there are no longer generalized one-way models, but more and more unique multi-directional models that work for the individual consumers and brands. This is the new normal, only consultants and brands that are living, evolving and growing will be able to survive and flourish.</p>
<p>&nbsp;</p>
<p><em>This article was developed in collaboration by <a href="http://www.dashdesign.net/">dash design</a> and <a href="https://thegraysoncompany.com/">The Grayson Company</a>. </em></p>
<p>The post <a href="https://thegraysoncompany.com/2017/11/07/return-on-relationship/">Return on Relationship (ROR) &#8211; The New Critical Retail Metric</a> appeared first on <a href="https://thegraysoncompany.com">The Grayson Company</a>.</p>
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		<title>TGC CEO Kevin Mullaney joins Trever Gallina on his new podcast &#8216;People in Retail&#8217;</title>
		<link>https://thegraysoncompany.com/2017/10/23/tgc-ceo-kevin-mullaney-joins-people-retail-trever-gallina-podcast/</link>
		
		<dc:creator><![CDATA[TGC]]></dc:creator>
		<pubDate>Mon, 23 Oct 2017 19:25:42 +0000</pubDate>
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		<category><![CDATA[Omni-Channel]]></category>
		<category><![CDATA[Retail Consulting]]></category>
		<guid isPermaLink="false">https://thegraysoncompany.com/?p=7878</guid>

					<description><![CDATA[<p>TGC CEO Kevin Mullaney sits down with Trever Gallina to discuss the state of retail, Target’s pregnancy predictability factor, and some surprising statistics that debunk brick and mortar / ecommerce. Don’t miss this podcast! Highlights frrom the podcast: 1:00 Into to Kevin Mullaney and The Grayson Company 2:25 Kevin discusses Brick &amp; Mortar's impact on  [...]</p>
<p>The post <a href="https://thegraysoncompany.com/2017/10/23/tgc-ceo-kevin-mullaney-joins-people-retail-trever-gallina-podcast/">TGC CEO Kevin Mullaney joins Trever Gallina on his new podcast &#8216;People in Retail&#8217;</a> appeared first on <a href="https://thegraysoncompany.com">The Grayson Company</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>TGC CEO Kevin Mullaney sits down with Trever Gallina to discuss the state of retail, Target’s pregnancy predictability factor, and some surprising statistics that debunk brick and mortar / ecommerce. <a href="https://www.podomatic.com/podcasts/trevergallinarealestate/episodes/2017-10-11T07_57_44-07_00">Don’t miss this podcast!</a></p>
<p><img decoding="async" class="size-medium wp-image-7883 alignleft" src="https://thegraysoncompany.com/wp-content/uploads/2017/10/Kevin-Podcast-e1508786399821-225x300.jpg" alt="" width="225" height="300" srcset="https://thegraysoncompany.com/wp-content/uploads/2017/10/Kevin-Podcast-e1508786399821-225x300.jpg 225w, https://thegraysoncompany.com/wp-content/uploads/2017/10/Kevin-Podcast-e1508786399821-768x1024.jpg 768w, https://thegraysoncompany.com/wp-content/uploads/2017/10/Kevin-Podcast-e1508786399821.jpg 1224w" sizes="(max-width: 225px) 100vw, 225px" /></p>
<p>Highlights frrom the podcast:</p>
<p>1:00 Into to Kevin Mullaney and The Grayson Company</p>
<p>2:25 Kevin discusses Brick &amp; Mortar&#8217;s impact on Ecommerce</p>
<p>4:56 What is the right balance between Ecommerce and Brick &amp; Mortar?</p>
<p>7:45 What’s hot in NYC?</p>
<p>12:00 How a brand should approach expanding in NYC</p>
<p>15:06 Target’s pregnancy predictability factor</p>
<p>&nbsp;</p>
<p>The post <a href="https://thegraysoncompany.com/2017/10/23/tgc-ceo-kevin-mullaney-joins-people-retail-trever-gallina-podcast/">TGC CEO Kevin Mullaney joins Trever Gallina on his new podcast &#8216;People in Retail&#8217;</a> appeared first on <a href="https://thegraysoncompany.com">The Grayson Company</a>.</p>
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		<title>HomeGoods on the March</title>
		<link>https://thegraysoncompany.com/2016/12/12/homegoods-on-the-march/</link>
		
		<dc:creator><![CDATA[TGC]]></dc:creator>
		<pubDate>Mon, 12 Dec 2016 16:05:59 +0000</pubDate>
				<category><![CDATA[All]]></category>
		<category><![CDATA[Omni-Channel]]></category>
		<category><![CDATA[Retail Consulting]]></category>
		<category><![CDATA[Wholesale / Ecommerce]]></category>
		<guid isPermaLink="false">https://thegraysoncompany.com/?p=7651</guid>

					<description><![CDATA[<p>Spitting in the eye of e-commerce, the off-price retailer strategically focuses on brick-and-mortar stores By David Gill | November 2, 2016 HomeGoods is home retailing’s new Gold Medalist. With many brick-and-mortar retailers posting up-and-down results lately—some with all down performance—the specialty operation of The TJX Cos. has maintained an upward trajectory for the past few  [...]</p>
<p>The post <a href="https://thegraysoncompany.com/2016/12/12/homegoods-on-the-march/">HomeGoods on the March</a> appeared first on <a href="https://thegraysoncompany.com">The Grayson Company</a>.</p>
]]></description>
										<content:encoded><![CDATA[<h3><strong>Spitting in the eye of e-commerce, the off-price retailer strategically focuses on brick-and-mortar stores</strong></h3>
<p>By David Gill | November 2, 2016</p>
<p><a href="https://thegraysoncompany.com/wp-content/uploads/2016/12/187750-homegoods-home-decor-cookware-bedding-lighting-1.jpg"><img decoding="async" class="alignleft size-full wp-image-7652" src="https://thegraysoncompany.com/wp-content/uploads/2016/12/187750-homegoods-home-decor-cookware-bedding-lighting-1.jpg" alt="187750-homegoods-home-decor-cookware-bedding-lighting-1" width="225" height="619" srcset="https://thegraysoncompany.com/wp-content/uploads/2016/12/187750-homegoods-home-decor-cookware-bedding-lighting-1-109x300.jpg 109w, https://thegraysoncompany.com/wp-content/uploads/2016/12/187750-homegoods-home-decor-cookware-bedding-lighting-1.jpg 225w" sizes="(max-width: 225px) 100vw, 225px" /></a>HomeGoods is home retailing’s new Gold Medalist.</p>
<p>With many brick-and-mortar retailers posting up-and-down results lately—some with all down performance—the specialty operation of The TJX Cos. has maintained an upward trajectory for the past few years.</p>
<p>Its net sales rose 31 percent to $3.9 billion from fiscal year 2014 to fiscal year 2016, which ended on Jan. 30 of this year. It reported same-store sales increases of 7 percent in 2014 and 2015, and 8 percent for 2016. Its profit rose 42 percent in that three-year time span, to $549.3 million.</p>
<p>Contrast that with the results over the same three-year period from Bed Bath &amp; Beyond, its closest retail rival. In the 2014-2016 fiscal span, Bed Bath’s net sales rose 5.2 percent to $12.1 billion. Net income over that period fell 18 percent to $841.5 million. Same-store sales increased by 2.4 percent in 2014 and 2015, and only 1 percent in 2016.</p>
<p>Recent visits by HFN to a HomeGoods store in New Jersey and another in Manhattan provided a strong sense of why the store has become such an appealing place to shop. Its maze-like layout doesn’t deter shoppers, leading them from one department to another until they’ve actually walked the entire store. “It leads you around like a racetrack although it isn’t a racetrack,” said Richard Roman, president and CEO of Revman International, a textiles supplier to HomeGoods.</p>
<p>On the way, the shopper finds merchandise that leads to thoughts such as “Oh, yes, I could use that.” The pricing on these items brings the thought of, “Hey, that’s not bad for a sofa, or a comforter set, or a kitchen gadget.”</p>
<p>Impulse shopping and the treasure-hunt atmosphere are what HomeGoods and other off-price retailers (including its brethren, T.J.Maxx and Marshalls) are all about. Stores in this channel “have the unique ability to change product offerings quickly, which creates a scarcity effect that makes consumers feel more compelled to purchase on the spot rather than risk someone else beating them to the checkout line,” said Moody’s Investor Service in an analysis of this retail sector.</p>
<p>In fact, HomeGoods may have mastered the impulse factor to a greater extent than other members of the TJX family. Ernie Herrman, the company’s president and CEO, described HomeGoods as “our most impulsive-mix store” during a conference call to financial analysts earlier this year. “It’s difficult if you’re a customer to walk in and not spend $200,” Herrman said, “because there’s so much exciting impulse merchandise there.”</p>
<p>HomeGoods is also “our fastest-turning business,” he added, which is another part of its appeal. “I think we’re getting a customer there that not only is it impulsive to begin with, she could go back a week and a half later and it’s different again,” he said.</p>
<h3><strong>Treasure Hunt Mastery<br />
</strong></h3>
<p>HomeGoods’ customers keep coming back not only because of the rapid rate in which merchandise disappears from its shelves. “Their success is the result of their ability to continually find deals on fashionable and functional household items that surprise and delight customers by creating a treasure-hunt atmosphere,” said Robert Cuthbertson, vice president of retail analyst firm Boston Retail Partners. “Customers have become trained to expect surprises and are predisposed to being more flexible during their shopping experience.”</p>
<p><a href="https://thegraysoncompany.com/wp-content/uploads/2016/12/187752-homegoods-metal-tub-wow.jpg"><img decoding="async" class="alignleft size-full wp-image-7653" src="https://thegraysoncompany.com/wp-content/uploads/2016/12/187752-homegoods-metal-tub-wow.jpg" alt="187752-homegoods-metal-tub-wow" width="225" height="183" /></a>There is another reason why shoppers keep coming back to HomeGoods stores. The treasure-hunt atmosphere generated by off-price stores doesn’t lend itself to online, said the Moody’s analysis. HomeGoods’ website is for browsing only. “Because HomeGoods does not sell online, consumers are driven to visit the stores, resulting in strong traffic flow,” said Cristina Fernandez, analyst with Telsey Advisory Group.</p>
<p>What shoppers see, whether browsing through the stores or on the website, are fashionable goods at value prices. “They have upped their game in style and design,” said <a href="https://thegraysoncompany.com/steve-goldberg/">Steve Goldberg</a>, president of <a href="https://thegraysoncompany.com">The Grayson Company</a>. “They know how to maximize their product categories by attaching brands to them that have authority. They have created an audience of women who enjoy the hunt for great fashion.”</p>
<p>HomeGoods also knows how to stop shoppers in their tracks with some product offerings. The store visited by HFN in New Jersey featured a gigantic metal bath tub about 7 feet long with a depth of about 4 feet, presented in an antique style.</p>
<p>“One week when I was in a HomeGoods, I found a carousel horse,” Goldberg said. “In another visit, I saw a mirror that was 8 feet tall, the sort you might see during a High Point Market, and in another visit, I saw a 5-foot-tall Buddha. HomeGoods likes to create a ‘wow’ factor that acts as an umbrella over other merchandise.”</p>
<h3><strong>Product at the Right Price</strong></h3>
<p>HomeGoods has also established a leadership position in pricing. “Consumers trust the pricing at HomeGoods, which is generally 20 to 50 percent below that of department stores and specialty stores,” Fernandez said. “In addition, the products found there are harder to price-compare online, driving conversion.”</p>
<p>“At HomeGoods, the customer might find high-end products at deep discounts or moderate-level products with fair discounts,” Cuthbertson said. This pricing strategy reinforces the treasure-hunt aspect of shopping in HomeGoods. “With a wide range of product categories and a continuous flow of new products, customers never know what to expect or what they will find,” Cuthbertson said. “This is the beauty of the treasure-hunt shopping experience that keeps customers coming back to find more deals.”</p>
<p>With its business model, HomeGoods has created fans among its vendors as well. Manufacturers interviewed by HFN spoke of the “excellent relationship” they have with the retailer and with other TJX stores. “It’s really a partnership,” said Ian Zucker, CEO of Ten Strawberry Street. “They understand the vendor. You go in with your eyes wide open.”</p>
<p>Vendors are shoppers, too, and appreciate HomeGoods’ way of merchandising its assortment. “It’s a fun and adventurous environment,” Roman said. “They get new merchandise every day, and you never know what you’re going to get. It’s an environment that entertains shoppers and creates a sense of urgency, because if she doesn’t buy it then, it’s gone right away.”</p>
<p>Since 2012, HomeGoods has been on a fast expansion track, growing the chain from 374 stores at the end of fiscal year 2012 to 526 at the end of fiscal 2016. The plan for fiscal 2017 is to open 50 more stores.</p>
<p>“We see this chain expanding to at least 1,000 stores, almost double its existing base,” Herrman told financial analysts.</p>
<p>Aside from the chain’s physical growth, there is plenty of reason for optimism among TJX’s executives for HomeGoods’ continued success in the years to come.</p>
<p>“We are very happy with the traffic and comp increases we continue to see at HomeGoods,” Herrman said on another conference call to financial analysts after TJX released its first-quarter results this year. “The enthusiasm of our HomeGoods customers is hard to beat.”</p>
<p>To view the published article, <a href="http://www.hfndigital.com/news/homegoods-march/">click here</a>.</p>
<p>The post <a href="https://thegraysoncompany.com/2016/12/12/homegoods-on-the-march/">HomeGoods on the March</a> appeared first on <a href="https://thegraysoncompany.com">The Grayson Company</a>.</p>
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