Retail Therapy: Why The Retail Industry Is Broken - And What Can Be Done To Fix It

Description

Almost weekly, the news is full of stories about disappearing retail chains. From House of Fraser and BHS to Toys'R'Us and Sears, recognised names are vanishing overnight - as such large organizations disappear, so the malls, shopping centres, high streets and main streets become emptier and less appealing to visit. The retail sector is hugely important in terms of job numbers: in the US, it employs around 30 million people (directly and indirectly); in the UK, around 10 million. As such, anything that jeopardises the retail sector will have a deep and lasting impact on millions of lives, as well as on public policy. While many blame the 'Amazon effect', this is an oversimplification. Deeper forces are at work that are changing people's relationships with brands, the balance of power between producers and consumers, and the whole nature of the supply chain that has existed since the industrial revolution. Retail Therapy offers a comprehensive analysis of these forces and their impact on the world of retailing. More importantly, it presents a cogent analysis of the longer term trends that are shaping retailing, and outlines a clear road map for sustainable success in the future.

Mark Pilkington is an experienced retail chief executive and strategy consultant, based in the UK. After graduating from INSEAD, he joined Courtaulds, later becoming CEO of Gossard where he was responsible for initiating the huge global success of Wonderbra. He then founded Splendour.com - the world's first direct-to-consumer ecommerce brand, with the backing of Marks & Spencer.

Retail Therapy bristles with alarming numbers. Before I finished the book I was recommending it to others, particularly because of his powerful analysis of the crisis. It is worth listening to the fixes - some of them controversial - he believes will cure the industry's ills. -- Anne Ashworth * The Times * This is the book that many people will have been waiting for - an explanation of what is happening to retailing, and what can be done about it. For entrepreneurs, policy makers and everyone who has a strong interest in where and how they buy things, it will be fascinating reading. -- Lord Hague of Richmond * Former UK Secretary of State for Foreign and Commonwealth Affairs * If you want to understand just how serious the crisis facing retail really is, look no further than Retail Therapy. For those who really care about the future of retail, this book is compulsory reading. Mark tells it how it is and doesn't pull any punches; a must-read. -- Andrew Busby * Founder & CEO of Retail Reflections; Forbes Contributor; Founder of the Retail Advisory Board * The most current, most thorough review of retailing I have read in a long time . . . a must-read for every retailer or wannabe retailer out there, whether a millennial or baby boomer. Read it now - you won't regret even a minute of this juicy story. -- Terri Fisher * President & CEO, Platinum Coast Retail Consulting; Former Vice President of Merchandising, Macy's/Federated * Retail Therapy is crammed with telling insights, and Mark Pilkington provides a to-do list that every investor, retailer, employee, supplier and customer should read, learn and inwardly digest. -- Jonathan Story * Emeritus Professor of International Political Economy, Insead * An experienced retail operator and a very clear thinker, Mark Pilkington has described where retail is today and why and how it should adapt to rapid change. -- Maurice Helfgott * Executive Chairman Amery Capital; Chairman Brightpearl; Former Director of Marks & Spencer PLC * A well-written book, which offers a factual and insightful account of the retail landscape as it stands today, and importantly brings to life realistic and actionable solutions for tomorrow. A great read . . . I am convinced it is a winner! -- Ray Nadeau * Principal, White Space Marketing; Former President of Vanity Fair Brands and Playtex Apparel * This book is a fascinating and timely approach. It is clear that the traditional high street is suffering, and some aspects of government policy are making things worse. -- Sir Vince Cable, MP * Leader of the UK's Liberal Democrat Party *