Smart retail : winning ideas and strategies from the most successful retailers in the world

350 Pages·2017·1.91 MB·English

by  Hammond

‘The heart of every retail success is the delivery of a great customer experience.
In mapping out how to do that, this book is worth its weight in gold.’
Ian Shepherd, Chief Commercial Offi cer, Odeon and UCI
F O U R T H E D I T I O N
SMART
RETAIL
Winning ideas and strategies
from the most successful
retailers in the world
R I C H A R D H A M M O N D
Praise for Smart Retail
‘The heart of every retail success is the delivery of a great
customer experience. In mapping out how to do that, this
book is worth its weight in gold.’
Ian Shepherd, Chief Commercial
Officer, Odeon and UCI
‘Take a look around a Majestic store today, where we are growing
like-for-likes, and you can see many of Richard’s principles at
work. I highly recommend Smart Retail as part of any retailer’s
essential toolkit.’
Rowan Gormley, CEO, Majestic Wine PLC
‘Clear thinking with practical retail insight to get to innovative
yet pragmatic ideas.’
Alex Windle, Marketing Director, BP
‘Richard is a deep well of retail knowledge and best practice
and communicates his ideas in a hugely compelling manner.’
Wilf Walsh, CEO, Carpetright PLC
‘A toolkit of retailing skills to take you beyond survival, to super-
performance.’
Angus Thirlwell, Founder,
Hotel Chocolat
‘A really practical and helpful guide, essential reading for anyone
involved in retailing.’
Charles Dunstone, Founder and
Chairman, The Carphone Warehouse
‘Congratulations on pulling together such a comprehensive list
of essential learnings.’
Cliff Burrows, Group President USA
and Americas, Starbucks
‘This book is full of good, practical things to make running
stores that bit easier to get right.’
Julian Richer, Chairman and
Founder, Richer Sounds
‘A wonderful insight into the world of retailing. A fun and
inspiring read.’
Vittorio Radice, Saviour of Selfridges
‘Very much to the point and a great practical guide to retailing.’
John Thornton, former Chairman, Thorntons
‘Gets to the core of the excitement in successful retailing.’
Professor John Dawson, Founder, the Institute
for Retail Studies, University of Sterling
‘A book about doing it.’
Allan Leighton, retailing legend
‘Retailing needs smart people, and Richard Hammond is a smart
guy who provides good advice on how to improve stores and
build a better business.’
Nick Bubb, Britain’s leading
retail analyst
Smart Retail
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Smart Retail
Winning ideas and strategies from the
most successful retailers in the world
Fourth edition
Richard Hammond
PEARSON EDUCATION LIMITED
Edinburgh Gate
Harlow CM20 2JE
United Kingdom
Tel: [phone]
Web: www.pearson.com/uk
First published 2003 (print)
Second edition 2007 (print)
Third edition 2011 (print and electronic)
Fourth edition published 2017 (print and electronic)
© Pearson Education Limited 2003, 2007 (print and electronic)
© Pearson Education Limited 2011, 2017 (print and electronic)
The right of Richard Hammond to be identified as author of this work has been asserted by him in
accordance with the Copyright, Designs and Patents Act 1988.
The print publication is protected by copyright. Prior to any prohibited reproduction, storage in a
retrieval system, distribution or transmission in any form or by any means, electronic, mechanical,
recording or otherwise, permission should be obtained from the publisher or, where applicable,
a licence permitting restricted copying in the United Kingdom should be obtained from the
Copyright Licensing Agency Ltd, Barnard’s Inn, 86 Fetter Lane, London EC4A 1EN.
The ePublication is protected by copyright and must not be copied, reproduced, transferred,
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permitted in writing by the publishers, as allowed under the terms and conditions under which it
was purchased, or as strictly permitted by applicable copyright law. Any unauthorised distribution
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ISBN: 978–1–292–08220–2 (print)
978–1–292–08221–9 (PDF)
978–1–292–08223–3 (ePub)
British Library Cataloguing-in-Publication Data
A catalogue record for the print edition is available from the British Library
Library of Congress Cataloging-in-Publication Data
Names: Hammond, Richard (Retail management consultant), author.
Title: Smart retail : winning ideas and strategies from the most successful
   retailers in the world/Richard Hammond.
Description: Fourth edition. | Harlow, England, UK: Pearson Education,
   [2016] | Includes index.
Identifiers: LCCN 2016042270 (print) | LCCN 2016051606 (ebook) | ISBN
   9781292082202 (pbk.) | ISBN 9781292082233
Subjects:  LCSH: Retail trade—Management.
Classification: LCC HF5429 .H2824 2016 (print) | LCC HF5429 (ebook) | DDC
   658.8/7—dc23
LC record available at https://lccn.loc.gov/2016042270
10 9 8 7 6 5 4 3 2 1
21 20 19 18 17
Cover design by Two Associates
Cover image © calvindexter/iStock
Print edition typeset in 9.5/13, ITC Giovanni Std by iEnergizer, Aptara® Ltd.
Print edition printed and bound in Great Britain by Ashford Colour Press Ltd, Gosport, Hampshire
NOTE THAT ANY PAGE CROSS REFERENCES REFER TO THE PRINT EDITION
Smart Retail will always be dedicated to customers; without
whom…
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Contents
About the author xi
Acknowledgements xii
Introduction to the fourth edition xiv
Why retailing? xvii
Part 1
The seven secrets of modern retail 1

Introduction: how customers have
taken charge 3
1
Retail secret one: low friction and high
reward 9
2
Retail secret two: what’s the
Big Idea? 35
3
Retail secret three: want? Got. Need! 57
4
Retail secret four: “I’m just looking” 77
5
Retail secret five: I choose stories 101
6
Retail secret six: the everywhere
store 133
7
Retail secret seven: “we love working
here” 153
ix