Changing the Retail Story

            From the video, I learnt important techniques that govern the operation of a retailer.  First and foremost, a retailer should always be well located. He or she should choose a location where customers can be easily accessible, a place where anybody passing can be able to view the products (Rachel, n.p). A retailer should have a variety of products needed by the customer. A retailer should also be able to come up with new products so as to maintain the relationship with customers. Creativity and innovation is also another approach that retailers should embark on. For instance, retailers should always think of how to simplify dealings with customers, for example, improving the format of delivery, packaging, and payment so as to make it easier for the customer. It is also good to be flexible; a retailer needs to revise and change his or her brand as soon as possible to suit the needs of the customers at that particular moment.

            Retailers should also learn to run business differently. It is always good to be monopolistic; this prevents duplication of ideas from others. It is also good to always come up with new things; this helps when it comes on how to deal with the changing customer behavior. It is also important for retailers to invest on invention, for instance, a retailer should do all means to reach all categories of customers. There are those who can be reached online, others can be reached physically by extending goods as near as possible to them (Rachel, n.p).  Lastly, I also learnt that, it is important to get customers’ feedback on the impact of the product. Customers will always respond whether the product worked better for him or her, or whether the product did not work. This will always help the retailer to strengthen the quality of the product to fit customers.

Work cited

Rachel Shechtman at TEDxHollywood. Changing the Retail Story: (2013). https://www.youtube.com/watch?v=fbnWY-swsK0