Summary of The New Rules of Retail

Competing in the World's Toughest Marketplace

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The New Rules of Retail book summary
You can’t simply sell widgets anymore, because today’s consumers demand the full widget experience.

Rating

8 Overall

7 Applicability

8 Innovation

8 Style

Recommendation

Retailing has changed dramatically: Producers and marketers no longer control what, how and if customers buy. Modern-day consumers now tell you what they want to buy, how they want to buy it and whether they’ll let you sell it to them. Retail industry consultants Robin Lewis and Michael Dart combine experience and original research in their pragmatic, useful analysis of how the industry has evolved since the rise of the Internet. They offer a clear, logically progressive discussion, with instructive observations about stores, brands and the three “new rules of retail.” Although their explanation is long on theory and examples, it’s short on specific how-tos. Nonetheless, getAbstract recommends this eye-opening book – and eye-catching, too, with its great charts and diagrams – to manufacturers, marketers and retailers. Consumers, too, will relish its fascinating insights into their psyches.

In this summary, you will learn

  • How producer- and marketing-driven retailing evolved into consumer-led selling
  • How to use the three “new rules of retail,”
  • How to build consumers’ “neuroconnectivity” with your brand using “pre-emptive distribution” and “value-chain control.”
 

Summary

“Economic Tsunami”
The CEOs of 21 leading US retailers – including Neiman Marcus, Bergdorf Goodman, Home Shopping Network and Brooks Brothers – gathered in 2008 to discuss the coming recession, consumer spending and likely changes to the retail industry. Participants concurred that the...
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About the Authors

Robin Lewis, CEO and publisher of The Robin Report, is a professor at the Fashion Institute of Technology. Michael Dart is a senior partner and managing director at Kurt Salmon Associates.


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