The latest #fakenews is that Waterstones have opened “unbranded bookshops”. Despite what many trustworthy sources are reporting, Waterstones, the last remaining chain of specialist bookshops on the high street, have done nothing of the sort. The real story is that a national retail chain is creating hyper-local brands, one-off retail outlets seemingly tailored to their location. If they deliver on what those brands promise, they’ll be doing us all a favour.
Southwold Books in Suffolk, Read More
John Lewis Opticians have just launched. How will they do? JLP’s mutual ownership model is much loved and admired. It’s working well. The total group’s revenues have grown by 50% in the past six years, through a recession. With profit distribution to all employees, known as partners, John Lewis has become the new Virgin, champion of the customer. I would love to buy a car from them, or have them sell my house. But the world of opticians doesn’t need John Lewis. Read More
A friend, let’s call him Alan, confessed to me that, through a combination of devotion to Nick Cave and a senior moment, he had pre-ordered a new Nick Cave album on Amazon twice, three months apart. Realising his mistake when two CDs arrived separately, he contacted Amazon to arrange for a return and a refund. Their response: we understand how these things happen. Don’t bother to return it, we’ll credit your account anyway.
Now imagine some other possible responses. Read More
Ever had a boss who habitually seizes on something another business is doing and says:“Should we be doing that?” Social media is causing the same insecurity complex in the digital immigrant generation. It’s a sort of digital Fear Of Missing Out. Questions often asked include: how many Facebook friends does the brand have? Is everyone moving to Instagram? Will being on Pinterest make us cool? Can we do a partnership with Foursquare? Or, more likely: Now that we have our Facebook page/Twitter feeds/app, Read More
It’s hardly the end of capitalism, but the horsemeat scandal is showing large food retailers and manufacturers how it feels to be a banker. Meanwhile consumers – or people, as we might style ourselves– don’t know who we can trust. Marketing is seen as manipulative, and delivering profits is represented in the media as exploitation of customers. Sam Laidlaw of Centrica announced decent but hardly sensational results last week – and had to explain to John Humphreys on the Today programme why they hadn’t forgone profits for the sake of “the squeezed middle”. Read More
This advertisement was on the outside back cover of the Independent’s Saturday listings magazine, Radar, on 16th Nov. If these are deliberate mistakes then I don’t get the joke. Can anyone explain it to me? Call me old-fashioned, but a book retailer that can’t spell its own name somehow isn’t as appealing as it might be…
Well it’s not rocket science, is it? So if good business is mostly common sense, here’s a book that lays it out clearly and simply, with a few guiding principles, and the recurrent theme of seeing your business as customers see it. According to Leahy, this means eschewing conventional market definitions and boundaries, constantly looking around and listening to customers for things you can do better for them, and then trying things out. It’s a good straightforward read, Read More