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It Starts on Main Street

Dive into the rich history of retail, from Richard Sears' humble beginnings in 1886 to the rise of giants like Walmart and Best Buy. Discover how innovative retail concepts on Main Street have shaped consumer expectations and created competitive advantages. This exploration delves into key issues including customer experiences, technology, and environmental factors while highlighting how businesses can increase sales, improve loyalty, and contribute to societal betterment. Join us in understanding the future of retail through the lens of historical evolution and modern challenges.

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It Starts on Main Street

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  1. It Starts on Main Street Janet Viane VP Marketing and Digital Operations Sears Holdings

  2. We all started on Main Street! • In 1886 Richard Searspurchased a shipment of watches that a local jeweler did not want and began to sell them under the name Sears Watch Company. A year later he moved to Chicago and merged with Alvah C. Roebuck and sold an expanded offering of goods via mail order. • When Sebastian Kresgeopened his first store in 1899, a modest five-and-dime store in downtown Detroit…the low prices appealed to customers and changed the entire landscape of retailing. • In 1902, the Golden Rule Store opened in Kemmerer, WY. The name was chosen to reflect the values of the owner to treat others how you would like to be treated. In 1913, the store was renamed JC Penney and it’s focus was on providing miners, farmers and their families with clothing & sewing fabrics. The stores were located on main streets in downtown areas. • In 1962 Sam Walton desired to provide customers and communities opportunities to save money and opened the first Walmart store in Rogers, AK based on the simple slogan, “Lowest Prices, Anytime, Anywhere.” • In 1966 Richard Schulze opened the first Sound of Music Store, an audio components system retails in St., Paul, MN. In the early 1980’s the company quickly expanded into video products and appliances, adopting the name Best Buy and pioneered a new superstore concept.

  3. Our Issues are the SAME • On your agenda…. • Social Media (what to use, how to respond) • Health Care (costs, changes, balance) • Localization (relevance, connection) And on our minds….. • Customer expectations (higher than ever) • Customer experiences (integrated) • Technology (how to keep up) • Environmental Factors (sustainability, competitive, privacy) • Juggling Act (doing more today than yesterday) • Speed(yesterday is too late)

  4. Our opportunities are the SAME • Increase sales • Increase profit • Increase share of wallet • Enhance customer loyalty • Improve our competitive position • Altruistic improvement in society

  5. The only source of sustaining competitive advantage is knowledge of and engagement with customers. 6

  6. How we solve is the SAME • Talk to customers • Research/Read/Follow • Network (especially at conferences) • Experiment/Invest • Fail/Learn • Keep Trying……and moving forward!!

  7. Main Street creates….. • The new ideas (13% more patents) • The jobs (60-80% of US jobs) • The betterment of society (90% donation level) • The growth (small beat large in receipts--$11 trillion) • The future of retail!!!(exclusive and distinctive)

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