The trends this year retailers really need to focus on won’t be around the hottest new technologies or latest fads. Instead, companies that focus on delivering consistent, engaging customer experiences will set themselves up for long-term success. But in order to run your business successfully and provide the brand experiences shoppers expect, you must first have the right foundational systems in place.
A merchandise hierarchy is something your customers will never see, but it is a critical tool for running an efficient, successful retail business.
Modern customers don’t think in channels when shopping – they move between a physical store, online store and mobile app without a second thought.
It’s easy to overlook the fact that technology alone will not turn your business into a successful company. Your business must first develop a thoughtful strategy that differentiates it and keeps customers happy. Technology is what can help solve the problems that pop up during that transformation.
A lifelong entrepreneur, Tony Drockton ran start-ups in the construction and finance industries before moving on to high fashion. As he built up Hammitt, a handbag-focused luxury accessory brand, he knew he needed to take a different approach than others in the industry. He embraced a philosophy that welcomed all partners – wholesale, retail, online, offline – with a goal of putting the customer first.