Vincent Lawrence

As per me this is all about the understanding of customer demands. Nothing eals .

6

I relate to this post so much. I look back how my previous retail life was and compare it with my current role, not much have changed. What has changed though I now possess knowledge I learned from past mistakes, better solutions I learned from collaborations with my previous peers and enjoying my career journey with my current colleagues. Hiring managers, if you encounter applicants who have background in retail management, take a chance on them. There’s a lot of them who are diamonds in the rough, give them the tools and the chance to prove themselves, you won’t regret hiring them. Retail people ARE built different.

8

"Nordstrom has agreed to be acquired by its founding family and Mexican retailer El Puerto de Liverpool in a deal that values the luxury department store operator at about $6.25 billion, including debt."  https://lnkd.in/gRqknBPp

3

1 Comment

Interesting article.

3

According to National Retail Federation's Jack Kleinhenz, Ph.D., despite key factors in retail and consumer such as trade, immigration, regulation, tax and spending policies, "there is good reason to expect healthy economic growth in 2025". Read on below for more from Chain Store Age's Marianne Wilson: https://lnkd.in/gTVqUZCQ

2

Coming from a retail background really prepares you for everything.

16

1 Comment

Celebrating a win for California’s retail safety. Proposition 36 passed! 🎉 Proposition 36 rolls back parts of the controversial Proposition 47. Proposition 47, passed in 2014, was ironically called the “Safer Streets” proposition, even though it was designed to reduce jail overcrowding. It was meant to reverse historic tough-on-crime policies and divert money spent on incarceration to rehabilitation. The crime reform was well-intended but had unintended side effects for organized retail crime prevention. The proposition raised the felony threshold for prosecuting shoplifters to $950. Anyone caught for shoplifting under $950 would be cited with a ticket and released. It wasn’t a strong disincentive for repeat offenders. Ultimately, Prop 47 fueled a surge in commercial burglary (smash & grab) and shoplifting. It’s no surprise that 70.4% of voters approved the new proposition.. Under the new Proposition 36, people found guilty of shoplifting will now be more likely to face felony charges that were previously classified. Shoplifting under $950 is now punishable by up to three years if the offender has “two or more past convictions for certain theft crimes. It also increases potential punishment and jail sentences based on the total amount of goods stolen from prior incidents. Finally, it lengthens felony sentences by up to three years if at least three people jointly commit a theft or property crime or there is property damage. Congrats to all my ORC and LP friends who oversee stores in California! 

86

3 Comments

I’ve just watched Fran Horowitz being interviewed on CNBC Money Movers program, discussing the latest Abercrombie & Fitch Co. results, having delivered a huge set of Q1 figures. The business has predicted net growth of +10% for the year, up from a previous estimate of 4-6%. Revenue rose for the sixth straight quarter to $1bn. Sales at the Abercrombie and Fitch core brand climbed 29% in the period, smashing already punchy estimates of 17%. Meanwhile teen-focused Hollister Co. delivered +13%, beating estimates of 8%. Since taking over as CEO in 2017, Horowitz has reversed the downward spiral of sales, building revenue from $3.26bn to well over $4bn. In a market as tough as this, that’s bloody impressive. Keeping things simple was the clear message from the interview. The first thing Horiwitz said was: “We are staying so, so close to our customer and really listening.” To begin with, they have really doubled-down on getting the product right. Take the Abercrombie wedding shop for example – The teams realised that a wedding isn’t just a single day now, either for the bride and groom, nor their guests. Instead, it is a three or four day event and attendees need multiple outfits which they plan this well in advance. Abercrombie are delivering a one-stop-shop in a space they’ve never played before. Smart. Similarly, they’ve really paid granular attention as to where their consumer shops; The Abercrombie customer is more likely to research and shop online, even if they collect in-store. However, the Hollister Co. teen loves physical retail, and the mall remains a key part of their social life – Horiwitz has adjusted the real estate accordingly. Horowitz was a great merchant, and her influence and experience really shows. Abercrombie keep their inventory really lean and are able to respond fast to the consumer needs. Too many competitor retailers go too deep, too early and are left with a ton of markdowns. As Horowitz says to interviewer Sara Eisen “We keep inventory very fluid and very open.” The company is also looking at its international markets as another growth channel. During the quarter, sales in Europe, the Middle East and Africa were up 19%, led by the U.K. and Germany. In the Asia Pacific region, sales were up 10%, led by China. This video is about three minutes, and it is a distilled lesson in good retail practice. Nothing flash or tricky, just a laser focus on product, customer and location. Worth a watch. DHR Global #retailnews #Q1

35

4 Comments

As a GOOD AMERICAN customer, I can’t wait to experience the store. 👖As a former merchant, having a digital option to showcase styling, fit and product knowledge would have given me the confidence that my merchandising strategy was being executed in the store without having to physically be on location. 📺This is a great way to make sure teams are product obsessed with the constant graphics and that the visual merchandising / styling options are being showcased at the store. 🛍️To make sure this extension of digital is a success, Good American would need to keep the content fresh and consistent with real time inventory and reflective of the current product assortment. Sales associates would still need to be product obsessed but they would also need to show customers what is possible with the digital screens. The experience should augment and assist the sales associate and not be considered a replacement of staff. 🔹The excitement of finding a product on the screen, loving the look and being disappointed if the item or the size is not available could also drive customers away. GA would need to be on top of their inventory position and have a good handle of managing their inventory across all channels. 🗞️Check out more #BrainTrust comments on RetailWire: https://lnkd.in/eDJp--GF #retail #retailnews #goodamerican #cx #stores #merchandising #TRE #TopRetailExpert

23

Love it! But those who work in stores only wished their partners at HQ wanted to be in stores without a mandate. It is impossible to be the best in supporting stores or building a customer experience without being in stores often…at night, on weekends and during holidays! And once in stores be uber curious and engage with customers and the team. Ask “what can I do better or to help?”, “what gets in your way?”, “what should HQ change?”… ask these and other questions…and be genuine and authentic or don’t go! Oh, and get in the back room and ask to process freight, complete an Omni order, learn the steps involved in process’ and do the work! The best leaders work in stores with their teams, not simply “visit”. Retail magic still happens where the team, customer and product collide!

222

27 Comments

🌟 How to Get a Huge Return on Your Store Display Investment 🛒 Every Saturday, I go to Stores and always look for the display we made in several stores . It's like a fun game because it moves around the store! 😄 We make a little study about it . Before, few of our stores sales were just okay. But with the display we provide, sales shot up by 500%! That's 6 times more than before! 💰💥 And get this: the display paid for itself in just few days! It even sold more than others—17 times more, to be exact! 😲 For every dollar store spent on the display, they made $3400 in profit. That's a huge win! 💸✨ This story shows how a simple store display can make a big difference. Want to know how it could work for you? Let's talk! 🌈🚀 #EuroswiftMiddleEast #DisplaySuccess #BigReturns

9

1 Comment

⏩ Retail moves fast—quicker than I expected! One small change can have an immediate impact, but not everything moves as fast. Learn more about the speed and strategy of retail:

28

check out my page

1

What defines a good leader? It's not just about when things are running smoothly. True leadership shines when you are able to navigate through difficult and challenging times. #Leadership #Management #Success

25

9 Comments

View my verified achievement from Section.

3

"Violence remains a major concern for the retail industry. About three-quarters (73 percent) of those surveyed say that shoplifters are exhibiting more violence and aggression than they were a year ago, and 91 percent say that shoplifters are exhibiting more violence and aggression compared with 2019." "Multi-person theft incidents are also on the rise, with 62 percent saying that two to three individuals working together to steal multiple items is more of a concern than it was a year ago. Those incidents that are conducted in a coordinated effort under organized retail crime (ORC) groups continue to permeate the industry. Seventy-six percent say shoplifting connected to ORC is more of a concern than it was one year ago. Furthermore, retailers with the capability to track such incidents specifically saw a 57 percent increase on average in ORC incidents from 2022 to 2023."

2

Masonville Leadership Opportunity Alert Hello future leaders, Do you believe that people are the heart of any organization, and that fostering a positive workplace culture is paramount? Do you prioritize the development of individuals under your guidance, recognizing that investing in people yields long-term success? Do you lead by example, setting high standards and inspiring those around you to reach their full potential? Do you believe that transparency is key to nurturing growth and trust within teams? Do you believe that with dedication and perseverance, anything is possible? If these beliefs resonate with you and you're interested in joining our Yonge and Bloor leadership team, I invite you to apply using the link below and share this post with potential leaders you may know. Just Do It!

7

As a retail store manager, cultivating a strong mindset is paramount. Key elements such as goal-setting, discipline, consistency, motivation, and hard work are vital for success. Drawing inspiration from the discipline of bodybuilding, I've gleaned valuable lessons that I seamlessly apply in the dynamic retail environment. #Mindset #Discipline #Motivation #HardWork #Retail

3

1 Comment