The New Rules of Retail: Competing in the World's Toughest Marketplace

The New Rules of Retail is great read to start the new year for those interested in retail and shopper marketing. TNRoR provides unique balance between tradition and trend to help us make sense of the "wheel of retailing". Lewis and Dart's discussion of the three waves of retail serves as a backdrop and prologue to the exploration of their three strategic operating principles for success--neurological connectivity, preemptive distribution and value chain control. Ways in which developing markets are compressing and/or leap frogging the three waves provides food for thought.This book is pragmatic and useful for merchants, etailers and marketers. It's use of specific case studies let the reader determine the validity their 3 strategic operating principles and provides insights into how and why retailers and brands are flourishing or floundering in today's turbulent, rapidly evolving marketplace.Finally, TNRoR's exploration of possible alternative futures for retail, both in the US and globally, simultaneously excite and scare the mind! As a study of the creative destruction of capitalism for retail, it makes one stop and think, and reminds us that the wheel of retail pauses for no organization.

There are about seven or eight points made in this book stated repeatedly in order to fill 250 pages. Well, why 4 stars then? Well, because they're insightful and useful points very well articulated and backed with what I can only assume are well researched examples. I read this book over 12 hours of travel, and it kept me engaged with revelations about millennial shopping habits, and great insights into the 'behind the scenes' of retail. They say it takes 3 times hearing something in order to remember it. By about the third or fourth time hearing about Apple's great customer service though I started to have my doubts about the validity of the authors' viewpoint.I've owned three Apple products in my lifetime, all of which are great products. (an Apple IIe, a first generation ipod and a 2012 Macbook Air) The 'Genius bar' has been a disappointment to me. I've found the 'geniuses' that I've interacted with to be in reality pretty average in terms of product knowledge or being empowered to help me with a problem. The 'seamless' experience that the authors tout on behalf of Apple has been lacking in my experience. I had a problem with the MacBook Air that I bought at Best Buy but the Apple store associates refused to help me without incurring additional charges. It's an Apple product, I'm in an Apple store, the fact that I bought the Apple product from a retail partner shouldn't matter should it? Not if the purpose of the branded store is to create another great touch point or to 'encircle the customer in the brand creating an unbreakable bond'. Verbal tech support is available from Apple at a price, but isn't that available anywhere?I realize that Apple is currently the top brand in the world, and to find fault with them is on par with sacrilege, yet I found the halo-effected statements made in regard to Apple in this book to be simplistic. I'm sure my experience is not that unique, yet for whatever reason, maybe it's that the product works so well in general, consumers WANT to give Apple a pass even on their weaknesses. I suppose I expect more from what otherwise amounts to a textbook. More fearless analysis might even make the case for connecting neurologically with your core consumer that much stronger. 'If you really do a stellar job, your customers will even overlook your shortcomings!'

This is a must-read for anyone working or investing in the retail space or in consumer/market research. The core of the book is a provocative belief about a disruptive change for retailers/suppliers and the shape of the industry -- the authors don't just believe this change is coming, they believe we are in the midst of it. The book offers a brief historical perspective, which is a helpful capsule... but what will start a conversation is its rich core content: the predictions, the vivid examples and case studies, and the presentation of how technology is helping/hindering the relationship with the consumer. Fascinating and thought provoking, yet extremely readable -- good mix of a research-based academic and colloquial style.

If you are looking for a broad, easily accessible understanding of the challenges that face retailers today (as well as a retailing retrospective), The New Rules of Retail will be an informative and quick read. However, if you are an experienced retail or investment professional, you'll likely find the recommendations and insights too vague and soft for practical use. This book is more about the "art" of retail rather than the "science".In discussing their three new rules, Lewis & Dart highlight some of the attributes that can indeed make a retailer successful. Creating a positive neurological experience and being highly responsive to customer demands is more important than ever. Additionally, the recommended transformations for both department stores and wholesalers were insightful.Unfortunately, the "New Rules" are so broadly defined and cross so many strategic areas that it was difficult to come away with any concrete execution ideas. A discussion on the importance of customer analytics, data mining, etc. or any other cutting edge methodology useful in getting inside the customer's head would have been helpful.The level of analysis and research is not terribly rigorous - the statistics are meaningless and the stories primarily anecdotal. A handful of successful retailers were cited or discussed repetitively. I would have enjoyed a more rigorous approach in which a broad range of retailers were systematically analyzed and their performance evaluated against the New Rules criteria (I'm a finance geek though).