Best Buy has recently opened a “digital first” concept store that is just a fraction of the size of its typical location. Here’s why this could well be a precursor of the way much of retailing will be going in the very near future. — Introduction Think about it. What is the singular reason for a “store” to exist? Whatever kind of retailer we might be talking about, from grocery stores to drug stores to department stores to clothing stores to electronics stores and everything in between, the “store” is a place that you go to…

There’s been a rapid increase in the number of jobs with words like “Senior” or “Director” in the job title. Here’s a look at how getting an inflated job title can actually harm you down the road. — Overview As a strategic management professor and consultant, I try not to rely too heavily on my own stories from a 30-plus year career (yes, that does tell you, dear reader, that I am of “a certain age”). …

One thing you don’t want in branding is for your brand to be linked with something infamous. Anthony Richardson, the starting quarterback for the University of Florida, just changed his “AR-15” moniker to avoid any connection with the notorious assault rifle in a branding lesson for the ages. — Introduction There’s one absolute rule in the marketing business: You can’t have your brand connote anything that is bad for society. Sometimes, there are names that circumstances overtake, and there’s nothing that the greatest marketing or crisis managers can do about it.

There has been a marked decline in the number of young people in the United States and in their share of the American population. Here’s why this demographic trend is a strategic threat that all in charge of any educational entity — from daycare to universities — should be aware of and act on today! — Introduction Pop quiz. What is the one thing that every business needs? If you said “customers,” ding, ding, ding, you are right! While we in the education business talk about students, in effect, students are proxies for our customers. And let there be no doubt, every educational entity, from daycare to…

Email marketing is still the reigning, defending, undisputed champion of marketing tools — Recent research has shown that despite all the attention being given to online advertising and social media influencers, online retailers looking to connect with consumers would be well advised to focus more on email advertising for superior results. Introduction: What Does Your Inbox Look Like Today? So, how’s your inbox looking? Every morning when you get up and…

A recent national survey by Gallup showed that Americans’ trust in institutions, across the board, has fallen to record lows. There’s one exception to this disturbing trend. Here’s why the faith shown in small business is so important to us all. — Have you been on social media lately? Unless you are living in a cabin deep in the woods without any way of connecting to the Web (sounds pretty good right about now, eh?), going on Facebook, Twitter, even LinkedIn can be disturbing, as your “friends” seem to be endlessly arguing…

Recent consumer spending research shows that shoppers today are reacting to inflation that many have not seen in their lifetimes to emphasize trying to maximize their spending power by switching brands and switching their shopping habits like never before. — Overview Ask anyone today — a family member, a friend, a coworker, or just a random person on the street — what their biggest worry is today and they will most likely say one thing: Inflation. Everywhere we go in our daily lives where we spend money, from gas stations to…

Recent research shows that younger Americans are far more likely to follow women’s pro sports than their older counterparts. This article explores what the surging interest in women’s professional sports — of all kinds — means for the wider sports world moving forward. — Overview One thing we know that holds true throughout the history of American sports is this: There is — and has always been — an ongoing evolution when it comes to the popularity and interest in specific sports. Back in the 1930s, 40s and 50s, that baseball, boxing and horse racing…

Major retailers today face a very real conundrum. The combination of new technologies and a labor shortage are pushing stores to eliminate cashiers. The only problem is that a majority of people still prefer a person over a machine when they are spending money in stores today. Here’s a look at 3 ways retailers can move to a self-checkout future. — Overview If you want to “stir the pot” at any social gathering today, one topic that will ALWAYS get people talking is to mention using a self-checkout when you go shopping. Just bringing up the topic will lead family, friends, and coworkers to almost always vent about a bad experience (or…