Today starts the Chinese New Year celebrations. This year is the year of the goat. A very Happy Chinese New Year to all my Chinese friends.
Have just done a guest blog for Intel. You can read it here. It’s all about Getting Ready for the Radical Transformation of Retail.
Thank you Intel for asking me to contribute.
It’s The History Of Retail In 100 Objects post – This weeks object is The Chain Store
The origins of modern chain store retailing date back several millennia to ancient China. Merchants in China and later Japan recognised there were advantages to centralised management and selling through multiple distribution points which to day serve as the defining characteristics of chain store retailing. Chain stores emerged in North America in the 1700s when the Hudson’s Bay Company created a network of branded trading posts. However, it wasn’t until the end of the 19th century that the chain store approach to retail gained momentum in Europe and the United States. The era of chain store expansion began in earnest in the early 20th century as retailers recognised the profit potential associated with leveraging a variety of fixed and variable costs across an expanding base of stores whereby the sales volume generated by each additional location produced incremental profits. The superiority of the chain store business model became evident following the Second World War when global consumption surged for all manner of consumer goods. This set off an unprecedented wave of chain store expansion across all types of merchandise classifications. Definitions on the number of units that constitute a chain may vary, but there is no disputing the chain store’s impact on retailing. Chain stores led a dramatic restructuring of the retail industry during the past 100 years and today many of the world’s largest corporations are chain store operations.
Contribution to Retail History
The chain store method of retailing brought about arguably the greatest structural change the industry has seen during the past 100 years. The retail industry today is dominated by those who operate chain stores to effectively serve consumers’ wants and needs in a profitable manner.
The History Of Retail In 100 Objects Is Available As A Free Podcast
If you missed my live “In Retail Conversation with… Bryan Roberts” which we broadcast a couple of weeks ago here is the recording. We covered a lot of ground around retail holiday sales, the impact of Black Friday, eCommerce and what retail 2015 is going to bring and a lot , lot more. Hope you find it interesting.
The BrandZ Top 100 Most Valuable Chinese Brands 2015 is now available as an online flip book. Just click on the image and flip away…
Have had many requests for a copy of the just published BrandZ Top 100 Most Valuable Chinese Brands 2015. So just click here or on the image above and you can download the entire report. Hope you find it insightful and enjoy the great pictures by Cecilie Østergren.
The value of the BrandZ Top 100 Most Valuable Chinese Brands increases 22% year on year. A new No.1 brand and a new No.2 brand..Take a look at the video countdown to see all 100 brands.
Christmas and Boxing Day are fast merging. Just look at the above from London’s Oxford Street. It’s a retail trend that is cutting across all holiday events. Getting in early… the art of the retail pre-emptive strike.
One of my predictions for retail in 2015 is the growing importance of O2O (online to offline) across the world for retail especially in China – now the world’s largest eCommerce market. We will be seeing more use of digital and physical retail assets being interrelated and at holiday times getting ahead and locking in consumer spending.
Todays press ads from John Lewis and Currys- PC World in the UK (below) are an example of how getting in early and O2O are manifesting themselves. The Boxing Day sales starting virtually on line even before the Christmas turkey has even been defrosted let alone put anywhere near the oven and then moving later into physical spaces. We will be seeing a lot more of this in 2015.
Thank you for reading my blog during the year and for all your comments and feedback, it is much appreciated.
Happy Holidays to you all.