In the last week, U.S. discount department store Target has announced a retreat from Canada four years after opening there, closing 133 stores, ending 17,600 jobs, and burning US$2 billion in cash. What went wrong?
We should never forget the power of human connection in retail, the strength of a story well told, and the lasting impression of great visual merchandising brought to life in good old-fashioned three dimensions.
Until recently, "social media fatigue" has been the most dangerous "condition" that we social media marketers have had to combat. Now, however, with the recent trend toward frequent deep discounts and coupon offers, we are risking an even more serious condition of "offer fatigue."
Only Sunday escapes without a retail handle. But you can bet your bottom dollar it won't be a day of rest for retailers. The relentless run continues towards Christmas and beyond, as merchants race to extract as many dollars from consumers as possible and keep their stakeholders happy.
I actually enjoy going shopping with my wife, Evie. Whether it is making our way through our grocery list at Wegman's, or the birthday and anniversary card list at Hallmark, it gives us another opportunity to be together.