We are just witnessing the start of the radical changes in retail that will revolutionize shopping in every way. As Amazon and other disruptors continue to offer ever-greater value, customers' expectations will continue to ratchet up, making winning (and keeping) those customers all the more challenging. For some retailers, the changes will push customers permanently out of their reach—and their companies out of business.
In The Shopping Revolution, Barbara E. Kahn, a foremost retail expert and professor at The Wharton School, examines the companies that have been most successful during this wave of change, and offers fresh insights into what we can learn from their ascendance.
● How did Amazon become the retailer of choice for a large portion of the US population, and how can other companies work with them or compete with them?
● How did Walmart beat out other grocers in the late 1990s to become the leader in food retailing, and how must they pivot to hold their leadership position today?
● How did Warby Parker make a dent in the once-untouchable Luxottica's lucrative eyewear business, and what can that tell start-ups about how to unseat a Goliath?
● How did Sephora draw customers away from once-dominant department stores to become the go-to retailers for beauty products, and what can retailers learn from their success?
● How are luxury and fast-fashion retailers competing in the ever-changing, fickle world of fashion?
Building on these insights, Kahn offers a framework that any company can use to create a competitive strategy to survive and thrive in today's—and tomorrow's—retail environment.
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Barbara E. Kahn is the Patty and Jay H. Baker Professor of Marketing and the director of the Jay H. Baker Retailing Center. She is an internationally recognized scholar on variety seeking, brand loyalty, retail assortment issues, and patient decision-making whose research provides marketing managers with a better understanding of the consumer-choice process. She has been quoted or featured in the New York Times, Wall Street Journal, Financial Times, Washington Post, USA Today, NPR’s Marketplace, and elsewhere.
Lisa Larsen is a Los Angeles based voiceover actor who specializes in audiobook narration. She has narrated audiobooks across a wide range of genres, including inspirational stories, thrillers, and young adult paranormals and also lent her voice to radio spots and a variety of training and marketing videos for companies like Mazda and Nexgrill.