Summary of Steve Dennis's Remarkable Retail

By IRB Media

Please note: This is a companion version & not the original book. Book Preview:

#1 The world is changing, and physical stores are not immune to this. While some have paused or scaled back their expansion plans, many brick-and-mortar-dominant retail brands are still opening stores and posting strong growth and profits.

#2 The power in retail has shifted to the consumer, and what was once scarce no longer is. We no longer go online, but live online. In most categories, digital channels are central to the consumer’s purchasing journey.

#3 The differences between the retail haves and have-nots are becoming more and more pronounced as the impacts of the pandemic shake society to the core. The retailers that offer decent prices but not the best shopping experience are struggling.

#4 The shift from bartering to the various forms of shopkeeper took a long time. In the nineteenth century, aspects of retail began to become more professionalized, as specialty stores and department stores made their debut in many major cities.

• Language: English
• Publisher: IRB Media
• Release date: May 13, 2022
• ISBN: 9798822515598

IRB Media

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Insights on Steve Dennis's Remarkable Retail

Contents

Insights from Chapter 1

Insights from Chapter 2

Insights from Chapter 1

#1

The world is changing, and physical stores are not immune to this. While some have paused or scaled back their expansion plans, many brick-and-mortar-dominant retail brands are still opening stores and posting strong growth and profits.

#2

The power in retail has shifted to the consumer, and what was once scarce no longer is. We no longer go online, but live online. In most categories, digital channels are central to the consumer’s purchasing journey.

#3

The differences between the retail haves and have-nots are becoming more and more pronounced as the impacts of the pandemic shake society to the core. The retailers that offer decent prices but not the best shopping experience are struggling.

#4

The shift from bartering to the various forms of shopkeeper took a long time. In the nineteenth century, aspects of retail began to become more professionalized, as specialty stores and department stores made their debut in many major cities.

#5

The new millennium saw the emergence of forces that would lead to profound disruption. Jeff Bezos, Steve Jobs, and a cadre of venture capitalists began to see how technology could change retail.

#6

The retail world was experiencing an increasing pace of disruption, but the global pandemic was a true black swan event. The more remarkable your value proposition is, the more share you’re able to gain or hold on to.

#7

The COVID-19 pandemic has fundamentally changed the retail playing field. The costs of dealing with the health and economic fallout have ripped holes in the budgets of most governments and nonprofit organizations.

#8

The COVID-19 crisis has exacerbated the underlying drivers of polarization, creating a wider gap between the haves and have-nots. This increasingly Dickensian tale of two cities can be seen in the fortunes of those pursuing certain business models.

#9

The COVID-19 crisis injected steroids into just about all of them. The shift away from physical store transactions to online purchases saw a huge spike in 2020, and many companies implemented new digitally enabled shopping experiences.

#10

As the world recovered from the pandemic, people continued to reallocate their spending habits. While many continued to lock down and avoid large crowds, others spent more time at home and invested in making their homes safer.

#11

As the retail sector continues to contract, certain companies will be able to acquire businesses, brands, or assets at fire-sale prices. Some segments may become so dire that there is only room for a few competitors.

#12

The six places where a rewiring is taking