Tell Me Something Good About Retail

Bob Phibbs, The Retail Doc
Tell Me Something Good About Retail

Conversations with retailers and their suppliers that shine a light on the most positive aspects of retail. Get tips about competing in brick and mortar retail, resources for retail sales training, retail-specific marketing advice, ways to make your retail operations run more smoothly, and much more. New episodes release every week!

  1. Finding Ways to Say Yes Always

    JUN 12

    Finding Ways to Say Yes Always

    Episode OverviewFive conversations with retail entrepreneurs and experts who've built successful businesses by focusing on customer relationships, finding creative solutions, and staying true to their mission. From lumber liquidation to rum cakes, these stories reveal the fundamentals that drive retail success. Featured GuestsTom Sullivan - Founder, Lumber Liquidators Background: Started with Evil Knievel bicycle jumps at age 12, built a construction company, then discovered opportunity in discounted lumber Key Insights: Found leftover lumber at trucking warehouses that looked weathered but was still quality productStarted with weekend sales advertised in Boston GlobeTransitioned from general building materials to hardwood flooring - much better business modelCustomers bought 500-1000 square feet instead of picking through individual boardsFirst official Lumber Liquidators store opened January 5, 1996 in West RoxburyTammi - Kettlemans Rum Cake Retailer Background: Family business built around signature rum cakes using old Methodist church recipe Key Insights: Scent as powerful marketing trigger - customers recognize the store's Asian mint scent elsewhereVirginia law prohibits alcohol service during business hours, but rum cake gets around thisServed 326 rum cakes in one holiday season"Friends and family" customer program predates common discount usagePersonal delivery of individual rum cakes to top 200 customers creates lasting traditionsNeil - UK Retail Expert Background: Retail analyst focused on debt-laden retailers and market challenges Key Insights: VCs often treat retail businesses as ATM machines, loading them with unsustainable debtExamples: Toys"R"Us, JC Penney, Neiman Marcus - death by debt, not poor operationsLong-term focus essential - cites Amazon's 20-year planning horizonJohn Lewis partnership model prioritizes sustainable growth over short-term profitsBrexit uncertainty makes retail planning extremely difficult, especially during holiday inventory buildupMichael - Customer Experience Consultant Background: Former brand strategist who built grain trading business, now runs 35-person CX consulting firm Key Insights: "Corporate amnesia" - biggest customer frustration when companies forget previous interactionsModern retail spans physical stores, online, phone, and digital-only touchpointsPurchase journeys often start in one channel and finish in anotherRelationship lifecycle mapping reveals pain points across entire ecosystem20 years of customer experience consulting with senior, experienced teamPaul - Sewing Machine Retailer Background: Started part-time at Singer during college, now operates 13 stores with 150 employees Key Insights: Sewing machines are like Harley Davidsons - hobby purchases, not necessities"Finding a way to say yes" - only owner and business partner can say no to customersMost complaints come from employees saying no when they could find solutionsTaking customers seriously and being their advocate turns complaints into salesBest customers often started as upset complainers who received great serviceKey ThemesCustomer Relationships: Every successful retailer prioritizes long-term customer relationships over short-term profits Solving Real Problems: Whether it's quality lumber at discount prices or finding ways to say yes, these retailers focus on genuine customer needs Sensory Marketing: Scent, atmosphere, and memorable experiences create lasting customer connections Operational Focus: Success comes from mastering the basics, not chasing trends or quick fixes Debt vs. Growth: Sustainable businesses invest in customer experience rather than extracting value through debt Takeaways for RetailersFind your Evil Knievel moment - Every entrepreneur starts somewhere, often with simple experimentsCreate sensory memories - Scent, taste, and atmosphere build stronger connections than advertisingMap your entire ecosystem - Understand every touchpoint in the customer journeyEmpower employees to say yes - Clear escalation paths prevent customer frustrationThink 20 years ahead - Long-term planning beats short-term extraction every time

    31 min
  2. The Unexpected Marriage of Luxury Retail and Dining

    11/14/2024

    The Unexpected Marriage of Luxury Retail and Dining

    In this episode of "Tell Me Something Good About Retail," host Bob Phibbs, the "Retail Doctor," converses with Charlie Koniver, principal at Odyssey Retail Advisors. They discuss the evolution of luxury retail, emphasizing the need for a human connection and collaborative strategies between developers and tenants. The conversation covers the impact of the pandemic on shopping behaviors, the importance of prime real estate for luxury brands, and the trend of integrating food and beverage options into retail spaces. They also touch on the challenges and opportunities in major cities like New York, Los Angeles, and San Francisco, offering insights into the future of retail. Charlie Koniver is Principal at Odyssey Retail Advisors bringing more than 15 years of experience partnering with top luxury brands to develop and implement their real estate strategies. He has represented high-end tenants such as Richemont, Dolce & Gabbana, Alexander Wang, Frame, Bang & Olufsen, Leica, Veja, and John Lobb, to name a few. Charlie has also spent time on the landlord/developer side of the business by consulting for well-known developers such as Caruso, Jamestown, Brookfield, Acadia, and ASG. As Principal at Odyssey, Charlie is responsible for mentoring the next generation of professionals, as well as overseeing the firm’s marketing. Prior to co-founding Odyssey in 2019, Charlie worked at Richemont, one of the world’s leading luxury groups, where he established the company’s first in-house real estate department for North America, managing real estate activities for prestigious brands such as Cartier, Van Cleef & Arpels, and Vacheron Constantin. Before Richemont, Charlie worked at Kering where he oversaw the real estate for brands such as Gucci, Bottega Veneta, Saint Laurent, and Balenciaga, expanding their presence across North America and South American markets. Charlie’s journey began after a professional soccer career and obtaining his degree from American University.

    33 min
4.9
out of 5
27 Ratings

About

Conversations with retailers and their suppliers that shine a light on the most positive aspects of retail. Get tips about competing in brick and mortar retail, resources for retail sales training, retail-specific marketing advice, ways to make your retail operations run more smoothly, and much more. New episodes release every week!

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