In a new book, The Shopping Revolution: How Successful Retailers Win Customers in an Era of Endless Disruption, Barbara Kahn says in today’s retail environment, it takes more than a great sale to keep customers coming back for more. Each one of the winning retailers were the best at something. But they leveraged that leadership advantage to be the best at something else, too. She calls that the two-quadrant strategy.
So, you have to be the best at two things and good enough at everything else. But if you’re in a competitive industry, if everybody’s trying to be the best at something, what that does is ratchet up customer expectations. In other words, just being good enough is getting harder and harder to do, let alone being the best. Little wonder, then, the retail industry
is undergoing a major repositioning as legacy stores and brands that were once customer favourites fall victim to shifting consumer demands.