Thinking about tomorrow: Post recession strategies for retailers

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Retailers and vendors need to develop a new game plan to grow and prosper in tomorrow's environment.

The first step is to engage in an intense self-analysis. This includes consumer research in order to determine the wants and needs of the target customer, increase the value proposition with new and differentiated merchandise, find a path to a more efficient sourcing and logistics structure, strengthen its brand (whether national or owned), and implement a multichannel distribution network. Success will be tied to customer satisfaction.

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The author discusses why being multichannel is the key to survival for retailers.


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