Remarkable Retail: How to Win and Keep Customers in the Age of Disruption

by Steve Dennis, Sucharita Kodali (Foreword)

Physical retail isn’t dead—but boring retail is! Remarkable Retail equips the savvy retailer with eight essential strategies to thrive in an increasingly volatile and uncertain future. Digital technology has profoundly altered the competitive landscape for retailers. In Remarkable Retail , industry thought leader Steve Dennis argues that in a world of nearly infinite choice, where the lines between digital and physical are increasingly blurred, even being very good is no longer good enough. To win and keep customers today, retailers must be nothing short of remarkable. In most retail categories, digital channels are often central to the consumer’s journey, but that doesn’t mean people aren’t also shopping in stores; they’re just using them differently, often browsing in one channel and buying in the other. The notion of a physical store channel and an ecommerce channel is increasingly a distinction without a difference; the customer is the channel. The future belongs to those who embrace the blur of digital and physical that represents modern retail today and work to deliver an experience that is more harmonized and more memorable, regardless of how consumers decide to shop. Packed with illuminating case studies from some of modern retail’s biggest success stories—and leveraging Dennis’s more than thirty years as a senior executive and strategic consultant to dozens of brands— Remarkable Retail lays out the case for going beyond a slightly better version of mediocre and forging a path to being truly remarkable. To help retailers on this transformation journey, Dennis presents eight essential strategies for visionary leaders who are prepared to reimagine their way of doing business. A remarkable retailer is digitally enabled, human-centered, harmonized, mobile, personal, connected, memorable , and radical . In an age where consumers have short attention spans, myriad options, and a digitally integrated relationship with every brand, Remarkable Retail is your indispensable guide to creating a powerful retail experience that keeps your customers coming back for more.

Genres: Business

296 pages, Hardcover

Published April 13, 2021

Reviews

[Sivakumar Thiyagarajan · Rating 5 out of 5]

Once in a while, it is great to have access to a book that summarizes what is happening in an industry. Especially if we are talking about a dynamic industry like retail. ‘Remarkable Retail’ is one such slice-of-time book that captures the state of the retail industry in the last decade or so. The author – Steve Dennis – a global retail influencer, does this in the first part of the book (which is interestingly titled “Shift Happens”). In the second part – which is the stated purpose of the book – he lays out a framework of 8 essential elements that a retailer needs to have in order to becoming ‘remarkable’.

I found the first part insightful as the author cites examples and case studies to bust myths and misconceptions that are widely prevalent. The major one being the “much-awaited” retail apocalypse. Or should we say – “the physical retail apocalypse”. By sharing numbers related to e-commerce growth rate, profitability and highlighting case studies related to DNVBs and major e-commerce players planning to open stores, his argument is that physical stores will play a definitive role in the future. At the same time, he cautions that “boring” retailers/brands – irrespective of where they are w.r.t channel – will not survive. The primary argument made by the author is that with the changing global shifts, the factors that once contributed to a successful retail operation are either becoming extinct or irrelevant. Couple that with the stagnation of ideas and innovation on the side of once-successful retailers, the future is already bleak for most of the retailers and the music will soon stop for the mediocrely successful ones if they do not brace for the inevitable. The first part is structured in an interesting way that it alternates between accentuating certain negatives (for e.g. retailers’ obsession with channels, status quo defenders etc.,) and downplaying some (for e.g. Amazon effect, impact of DNVBs, fear of retail apocalypse etc.,). Part I ends with a pretty bold argument that retailers should ‘pick a lane’ in order to survive; the lanes being – “Out-Amazon Amazon”, “Stay stuck in good-enough”, “Be unique and become remarkable”. No prizes for guessing which lane the author suggests the reader to pick.

The second part of the book is purely intended for people like us – retail execs, consultants and anyone who runs a retail operation at any scale. I have read quite a few books that lay out frameworks to “win in the retail world”. One of the drawbacks in those books is that - it is not scalable for all types of retailers. Hence, I commend the author here for making it evidently clear before diving into the framework elements, by encouraging the reader to tailor these based on their organization’s ‘relevance’, ‘level of distinctiveness in the chosen element’, ‘urgency’, ‘material impact’, and ‘level of difficulty in execution’. Again, in each of the framework elements – the author isn’t gung-ho about them – but rather elicits alternative options and limitations. There was one exception to this – Human-centered design – where the author feels very strongly about this element and made a very compelling argument making it one of the best-written chapters of the book. My observation about the author’s belief (and I might be wrong here) behind these elements is that he is a strong proponent of “tech driven by business need and global shifts”. Here is where I think - he and I differ. I believe that technology helps retailers dream and imagine new use cases. So, while business needs may not be initially present when a new tech arrives, it is left to retailers to dare and imagine possibilities that can arrive with this tech. I agree that the primary driver for investing should be the business need, but if we do not allow for imagination and risk taking, there is no way we can grow.

The book’s definite strength is the usage of numbers, case studies, anecdotal experiences to augment the arguments made. For example, instead of carrying a lecture that “retailers in the middle” will not survive, the book illustrates the same with five-year revenue growth numbers of different types of retailers. More such instances occur throughout the book making it a much more satisfying and impressionable read, instead of just being a monologue of arguments. This is all the more important in a difficult chapter like that of the one dedicated to Amazon. Another aspect I liked in the book is the way in which each chapter’s argument is intelligently separated into sub-arguments which makes it easier for the reader to follow and re-start when necessary. Special credits to the editor or the person who was responsible for providing the headline for each section.

The way in which the pandemic has led to less physical footprint, renegotiated leases and rents, and redefined the role of stores are compelling arguments made by the author. The one chapter where I felt a different approach could have worked is the one on how future will not be evenly distributed. Here, the author believes that the investment and funding the industry is receiving from all quarters will not have a good ending for all. While it is a known fact that investors want to believe that they are betting on the right horse, may be the author could have thrown more light on what differentiates the winning horse with the losing one at the early stages itself. May be – that is a topic for a completely new book.

I am eagerly awaiting Steve Dennis’ next book. Especially, I’d be curious to know his take on how forceful reinvention made possible by the pandemic is different from the method he suggested in the book – which is more ‘introspection’ oriented. I strongly recommend this book to anyone who is a novice in retail as it succinctly summarizes the history of retail and at the same time, attempts to depict the future. For experienced folks who are short of time, I recommend the first part more than the second. Simply because of the compelling arguments made by the author in clearing several misconceptions created by print & social media, news reports and by our narrow views working with a few select retailers. In essence, I think this book deserves to be in our library.

[Charlie Ninegar · Rating 4 out of 5]

Very good read regarding retail. Supporting a colleague, Sucharita, who wrote the forward.

[Chris Parsons · Rating 5 out of 5]

This book is a must-read for anyone in retail or marketing who wants to understand how to stay relevant in a fast-changing world. Steve Dennis does a great job of breaking down the forces reshaping retail and, more importantly, how brands can respond in practical and meaningful ways. The mix of real-world examples, clear frameworks, and honest insights makes it both engaging and useful.

I especially appreciated how the book balances strategy with action. It doesn’t just talk about the challenges of digital disruption but offers tangible steps for creating experiences that truly connect with customers. Whether you’re a retail veteran or just starting out, this is a book you’ll come back to again and again.

[Jenna Singh · Rating 3 out of 5]

This book feels fairly modern in its approach to retail and sales. It keeps technology and the changing landscape in mind, which is helpful for sales associates and managers who are fairly new or who are seasoned professionals. While some of the ideas weren't new, this book brought up a few good points. In short, it was fine but nothing earth-shattering. It sits in the middle of the book recommendation list.

[Hannamari · Rating 3 out of 5]

A view on where the retail industry has been developing in the past years. I feel this is a good depiction of the situation, but felt obvious at times. Included some interesting nuggets of insight and fresh examples here and there.