Chapter 5 Of Retail Revival Essay

Decent Essays

One of the worst fears a company has is the prospect of being average. In a world where the only thing that keeps a company or brand afloat is uniqueness, whether it is the type of product they are offering or level of sustainability they are providing, companies need to stay atop of trends to stay relevant in today’s society. In Chapter 5 of Retail Revival, the theme of mediocrity and the motif of the “disappearing middle-class,” help pave the way for the discussion detailing the “Road to Remarkable.” As previously mentioned in Chapters 1 through 4, the middle class, a group that for years shared the same needs and wants, is diminishing. Mid-tier retailers, such as Sears, are suffering due to the generation of two value propositions that have divided consumers into only two categories, completely annihilating the middle class. Consumers either value high-fidelity products, which embody exclusiveness and a strong emotional connection, or high-convenience products, which are goods that are ubiquitous and have a wide appeal. Retailers need to define which value proposition they are going to focus on and then deliver on this ideal. To do this, companies need to choose one of the five “safe corners” they want to pursue and perform to the best of their ability in their specified corner. They can choose a corner where they, “sell remarkable products in a differentiated way” or “sell differentiated products in a remarkable way.” Then again, they could also focus on

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