Recognize Declining Retailers: Three Stages

15 Jan

As we read regularly, many retailers are having tough times. Today, we study how to recognize declining retailers: three stages of decline.

Previously, we discussed other types of failure. For example, Reasons Numerous Startups Fail and Small Businesses and Success/Failure. In addition, we noted how even Apple may retrench: Apple Cuts Back on iPod Product Line. Why? After years of great success, the iPod’s steadily declining. In response, Apple withdrew the iPod Shuffle and iPod Nano. The rapid growth of streaming music caused the decline.

According to Retail Dive, these retailers filed for bankruptcy projection in 2017. Many of the firms continue in a weakened state. But others have gone out of business:

Aerosoles
Alfred Angelo
BCBG Max Azria
Charming Charlie
Eastern Outfitters
Gander Mountain
Gordmans stores
Gymboree
Hhgregg
Papaya Clothing
Payless
Perfumania
RadioShack
Rue21
Styles For Less
The Limited
Toys R Us
True Religion
Vanity
Vitamin World
Wet Seal

Now, click the image for a description of each firm’s status.

Recognize Declining Retailers: Three Stages

And view CNN’s video on U.S. malls and shrinking retailers.

     

    Recognize Declining Retailers: Three Stages

    Though not always considered as such, data analytics must start with knowledge of what to monitor. In the case of declining retailers, it is essential to be aware of their stage of decline.

    With the preceding in mind, let’s look at the framework devised by Outcalt & Johnson: Retail Strategists. That firm operates Retail Turnaround Experts. And it founded the Retail Owners Institute.

    According to Outcalt and Johnson, eight “vital signs” indicate a retailer’s stage of decline. As shown in their chart, these vital signs can be placed into three stages:

    In stage one, retailers have entered decline. This is the best time to modify strategies and tactics.  Why? Because it is easier to turn performance around. By the time retailers move to stage three, it may be too late to fix things. Why? Because the vital signs are so off, it may not be possible to successfully modify them.

    Recognize Declining Retailers: Three Stages
     

    2018 Projected Global Wage Growth

    12 Jan

    In this post, we look at 2018 projected global wage growth. Why?

    For many (most) of us, salary/wage data acts as a useful tool. With such data, we can better judge our value to the company and for our job sector. As these links show:

     

    2018 Projected Global Wage Growth

    In 2018, wage growth will be mixed. And this goes for the United States and other OECD countries. The Organization for Economic Cooperation and Development consists of 35 nations. As it states, its mission “promotes policies that improve economic and social well-being of people around the world.”

    Recently, Statista summarized the results of research on OECD wages in 2018 [NOTE: the wage projections reflect the impact of inflation. This results in the real rate of change. In the U.S., we measure real wages by studying both wages and the consumer price index.]:

    “In analyzing OECD data, London-based Trades Union Congress (TUC) prepared forecasts for wage growth in developed economies for 2018. And it’s good news for a number of Eastern European nations. With Hungary, Latvia, and Poland expected to see the largest increases at 4.9, 4.1, and 3.8 percent.”

    “But tougher times await those in the soon-to-be-divorced U.K. In that case, real wages will shrink by 0.7 percent. The U.S. appears on the positive side of the chart. A 1.2 percent real jump upwards is predicted.”

    As we can learn from the Statista chart shown below.

    • For 2018, TUC offers wage projections for 32 OECD countries.
    • Of those 32 countries, 28 will have real wage growth in 2018.
    • However, TUC projects that just six OECD countries will show wage growth of at least 3 percent in 2018.
    • In 2018, the U.S. will rank 13th of the 32 nations for wage growth.
    • Besides in the U.K., wages will decline in Spain and Italy. And they will be flat in Switzerland.

     
    2018 Projected Global Wage Growth - Statista chart
     

    State of Marketing Today – Salesforce Study

    11 Jan

    As we know, marketing is always evolving. And this is due to the Internet, social media, smarter shoppers, etc. With that in mind, let’s consider the state of marketing today – Salesforce study. Then, see what we can learn.

    First, check out these related posts:

     

    State of Marketing Today – Salesforce Study

    When studying the state of marketing today, there are many factors to consider. In our view, they include the following. Changing consumer demographics and lifestyles. Also, changing shopping behavior. The use of digital media and technology. The Internet of Things. The decline of traditional media. Global competition. The availability of big data. Competition between bricks and clicks. And much more!

    For a good overview, we turn to the state of marketing today – Salesforce study . As Salesforce notes at the report’s sign up page:

    “Learn how customer experience is reshaping marketers’ mindsets in our survey of 3,500 marketing leaders worldwide. In the study, we explore these topics. Shifting priorities that spark organizational change. Marketing technology that makes waves across the broader business. And how AI raises the bar for 1-to-1 marketing and efficiency.”

    You may also click the report cover to access the FREE sign up. Moreover, this is a 50-page report.

    Below the image, we note some Salesforce conclusions.

    State of Marketing Today - A Salesforce Study
     

    Salesforce’s Major State of Marketing Conclusions

    • In general, “high-performing marketing teams represent 12% of the survey population. Those surveyed include B2B, B2C, and B2B2C teams.”

    State of Marketing Today - Salesforce Study

    • As noted in the executive summary, there are four takeaways.

    (1) “Marketers Move to Evolve Journeys, but Data Woes Linger. Even now, marketers still wrestle with gaining a single customer view. In addition, there are elevated customer expectations and newer channels. While high-performers better coordinate marketing across channels, most others fail to adapt messages.”

    (2)Shifting Priorities Spark Organizational Change. With the flood of customer data, firms are rethinking everything from job roles to how marketing functions. From account-based marketing to closer alignment with customer service, top marketers are change agents.”

    (3) “Marketing Tech Makes Waves. In general, marketers expect use of marketing technologies to skyrocket. And high-performers tend to be heavier tech users. Most of them report that  current tech does this. It aids collaboration. It increases productivity. And it drives a cohesive view of data. Also, top teams cite data management as key for 1-to-1 marketing across each touchpoint.”

    (4) “Marketing Embraces the AI Revolution. AI is the technology where marketers expect the most growth. Internally, marketers view AI as way to create more efficiency. For customers, most marketers want get more from their data and ramp up personalization without burdening their teams.”

     

    Firms on Glassdoor’s Best Employers Survey Each Year

    10 Jan

    In December, we highlighted Glassdoor’s 2018 Best U.S. Employers. And we studied Optimizing Employer-Employee Relationships. Earlier last year, we posted about Marketing Career Planning and Career Development. In addition, we looked at Getting Off a Bad Career Path. Today, we see the  firms on Glassdoor’s best employers survey each year . There are only three of them!

     

    Firms on Glassdoor’s Best Employers Survey Each Year

    Annually, for the past 10 years, Glassdoor has published its best employers’ list. Just three firms have made the list each year. And they are Bain & Company, Google, and Apple.

    As reported by Business Insider:

    Glassdoor published a list of the best companies of 2018 based on anonymous employee reviews. Business Insider looked into which companies have made its list — which features 100 companies annually — since its inception 10 years ago. Accordingly, Bain & Company, Google, and Apple were the only three companies to have made the list every year. Glassdoor’s list of the 100 best companies of 2018 saw plenty of newcomers — 40, to be exact.”

    “Thus, Business Insider looked at some Glassdoor analytics to figure out what reviewers love about these three companies. And we found that they are led by widely adored CEOs, typically hold moderately tricky interviews, and feature top perks like generous paid time off policies, health insurance, and 401K plans.”

    Let’s dig into why these three firms have remained such popular employers. First, click on the company name in blue to visit its Glassdoor page. Then, read the data gathered by Business Insider. The three photos are from Glassdoor.

    Bain & Company

    Firms on Glassdoor's Best Employers Survey Each Year - Bain & Co.

    Ranking on 2018 Glassdoor list: 2. Average employee rating: 4.7/5. And 98%  approve of CEO Bob Bechek. Most talked-about perks on Glassdoor: Maternity and paternity leave, health insurance, vacation, and paid time off. Also, 96% of employees would recommend Bain to a friend.

    Google

    Firms on Glassdoor's Best Employers Survey Each Year - Google

    Ranking on 2018 Glassdoor list: 5. Average employee rating: 4.4/5. And 96%  approve of CEO Sundar Pichai. Most talked-about perks on Glassdoor: Free food, health insurance, and 401K plan. Also, 91% of employees would recommend Google to a friend.

    Apple

    Firms on Glassdoor's Best Employers Survey Each Year - Apple

    Ranking on 2018 Glassdoor list: 84. Average employee rating: 4.0/5. And 93% approve of CEO Time Cook. Most talked-about perks on Glassdoor: Employee discount, health insurance, and 401K plan. Also, 79% of employees would recommend Apple to a friend.

     

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