Redefining Retail

Discover the new realities of working in the post-digital era of consumer brand and retail marketing.

In Redefining Retail: 10 Guiding Principles for a Post-Digital World, renowned international marketers Prof. Philip Kotler and Dr. Giuseppe Stigliano deliver a timely and insightful examination of retail and consumer brand marketing. In the book, you’ll find practical and concrete techniques for redefining your organisation’s internal operations and processes, as well as its business strategy. You’ll rethink the entire value chain as you consider the growing importance of sustainability, diversity and inclusion, working policies, and more.

The authors describe ten critical principles that should guide the actions of your company, whether you work with a startup, an SME, or a large, established organization. They also discuss:

• The main challenges retailers face in a world that’s been fundamentally transformed by the digital revolution.
• How to future-proof your marketing strategy, including 10 guiding principles for a new customer experience at retailers and consumer brands.
• The opportunities and threats of creating a seamless customer journey in the physical, digital, and virtual realms.

Perfect for managers, entrepreneurs, consultants, and investors in both the B2B and B2C sectors, Redefining Retail: 10 Guiding Principles for a Post-Digital World will also prove invaluable to students of management, marketing and business administration, as well as anyone with an interest in the evolution of commerce.

Introduction: Change Is the Only Constant xv

Retail: A Different Perspective xvii

Post- Digital: When Hype Meets Reality xxi

How We Got to Retail 5.0 xxviii

The Journey to Come xxxiv

Part I the Post- Digital Era 1

1 Running Backwards 3

Speed of Change 8

Reflection Summary Questions 10

2 Purpose, People, Planet—Therefore Profit 11

The Economic Imperative 14

Reflection Summary Questions 18

3 The Direct- to- Consumer (D2C) Revolution: A Double- Edged Sword 21

An Opportunity for Incumbent Brands 27

The Benefits of the Hybrid Model 32

In Summary 34

Reflection Summary Questions 36

4 Experiential Benchmarks 37

The Ever- Higher Bar of Expectations 41

Un(Fair) Competition 42

A New Market Modus Operandi? 45

Reflection Summary Questions 47

5 Making People Want Things Isn’t Enough 49

Making Sense of Data 54

The Privacy–Trust Equation 56

Reflection Summary Questions 58

6 Omnichannel Is Dead. Long Live Optichannel. 61

From Multichannel to Omnichannel 65

From Omnichannel to Optichannel 72

Reflection Summary Questions 74

7 The Post- Digital Customer Journey 75

A Hybrid Journey 80

It’s All Real 83

Reflection Summary Questions 87

8 High Tech + High Touch 89

Behind the Scenes 95

Reflection Summary Questions 100

9 Shopping Malls Apocalypse? 101

Regional Differences 104

Mixed- Use Developments 107

Reflection Summary Questions 109

10 The Perfect Storm 111

Where Do We Go from Here? 116

Part II THE 10 BEs OF POST- DIGITAL RETAIL 119

11 Be Humbitious 125

Different Leaders for Different Corporate Cultures 130

Reflection Summary Questions 135

12 Be Purposeful 137

The Benefits of Being Purposeful 142

A Difficult Harmony 145

Toward a Common Standard 147

The Business Correlation 150

Public/Private Collaboration Required 156

Reflection Summary Questions 158

13 Be Ambidextrous 161

Overcoming the Obstacles 170

Reflection Summary Questions 174

14 Be Onlife 175

Facing the Most Common Threats 179

Embracing an Onlife Optichannel Strategy 187

Reflection Summary Questions 192

15 Be Personal 195

The Benefits 201

The Flip Side 204

Reflection Summary Questions 208

16 Be Human 211

Unity Is Strength 217

Reflection Summary Questions 224

17 Be a Destination 225

Redefining Brick- and- Mortar Stores 231

Common Traits 237

Reflection Summary Questions 240

18 Be Exponential 241

Different Types of Business Ecosystems 245

Unity Is Strength 253

Make, Buy, or Ally 257

Reflection Summary Questions 261

19 Be Invisible 263

Five Significant Benefits of Invisible Technologies 269

Or: Not So Fast 275

Reflection Summary Questions 277

20 Be Loyal 279

Stakeholders’ Loyalty 284

Decoding Customer Loyalty and Churn 287

Loyalty, Habit, and Communities 293

Reflection Summary Questions 298

Conclusion: Embracing the Post- Digital Retail 5.0 Journey 299

Notes 305

Acknowledgments 341

Index 345

PHILIP KOTLER, PHD, is Professor Emeritus of Marketing at the Kellogg School of Management where he held the S.C. Johnson & Son Professorship of International Marketing. The Wall Street Journal ranks him as one of the top six most influential business thinkers.

GIUSEPPE STIGLIANO, PHD, is an entrepreneur and a manager with 20 years of international experience in marketing and communication services. He serves as Global CEO at Spring Studios and is an Adjunct Professor of Marketing at prestigious universities and business schools.

While the old real estate adage of, “location, location, location” has long been applied to the world of retail, its relevance is diminishing as the market undergoes rapid and tumultuous transformations. These changes are driven by geopolitical shifts, disrupted market dynamics, heightened competitive pressures, channel fragmentation, and unpredictable consumer behavior. This has been made even more evident by the recent failures of major, established players, to the extent that the business community has often described the situation as a ‘retail apocalypse’.

In Redefining Retail: 10 Guiding Principles for a Post-Digital World, celebrated international marketers Professor Philip Kotler and Dr. Giuseppe Stigliano deliver an insightful and hands-on discussion of the new face of retail and consumer brand marketing. In the book, you’ll explore both the mindset required and the actionable strategies for redefining your organization’s operations, processes, and strategy to align better with the entire value chain and emphasize sustainability, diversity, inclusion, employee work policies, and more.

The authors describe the ten critical principles that should guide the actions of your company that hold true whether you work in a start-up, small- to medium-sized enterprise, or a large, established organization. They also discuss the main challenges retailers face in a world that’s been fundamentally transformed by the digital revolution, as well as how to future-proof your marketing strategy with a new customer experience at retailers and consumer brands. You’ll also discover the new opportunities and challenges involved with creating a seamless customer journey in physical, digital, and virtual spaces.

The perfect roadmap to retail and consumer brand marketing for managers, entrepreneurs, investors, and consultants in the B2B and B2C sectors, Redefining Retail: 10 Guiding Principles for a Post-Digital World will also prove indispensable to students of management, marketing, and business administration. It’s a must-read guide for anyone with an interest in the evolution of commerce and marketing.

Praise for REDEFINING RETAIL

“Redefining Retail stands out as the most comprehensive and original retail book I’ve encountered in years. Its invaluable insights will leave you intrigued and informed.”
—Martin Lindstrom, Author, Consultant and Keynote Speaker

“In this book, I encountered numerous concepts that align with my leadership philosophy and mirror the dynamics within organizations like The Coca-Cola Company. The approach of the authors impressed me, as they effectively combined their real-world business expertise with authoritative academic??insights.”
—Nikos Koumettis, President of Europe at The Coca-Cola Company

“Beauty brands, among others, face the challenge of finding the right balance between the influence of technology and the personal touch of human interaction. Redefining Retail provides precious insights for managers on how to address this critical issue.”
—Vasiliki Petrou, Group CEO of Unilever Prestige

“One of the key challenges for organizations is how to combine the power of data intelligence and human creativity to deliver the most meaningful value to our customers. Redefining Retail offers very valuable insights and relevant answers to this essential aspect.”
—Greg Hoffman, Former CMO of Nike, Author and Speaker

“In a post-digital era, with customer journeys spanning numerous digital and physical touchpoints, the role of each of these interactions must be distinctive and strategically planned. This book provides valuable perspectives for managers aiming to design a resilient retail marketing strategy for the future.”
—Lucia Marcuzzo, SVP and Managing Director of North Europe at Levi Strauss & Co.

“In challenging times, companies often shift their focus to short-term financial outcomes to safeguard their market share. However, this approach can cause them to lose sight of a fundamental element—the human beings they are designed to serve. The guiding principles outlined by Philip and Giuseppe serve as an effective inspiration for leaders and managers.”
—Mauro Porcini, SVP and Chief Design Officer at PepsiCo