If you'd like to know about the "Merchant King" Marvin Traub and how he made Bloomingdales "The Store" , then purchase this book. It was Marvin who gave Ralph Lauren his revolutionary in-store lifestyle shop in shop (after buyers at Saks weren't really feeling Ralph's vision) and Marvin who gave collections like Missoni or Fendi a shot at expanding within the US market. Marvin Traub basically changed the face of modern merchandising and marketing setting his department store as the trendsetter in retail. His wisdom on the future of retail is knowledge that any fledgling retail executive must know as well as a small specialty store owner:
11 Principles on the future of retail:
1. Globalization
2. Consolidation
3. E-Commerce
4. Technology
5. Home Shopping
6. Understanding the retailer of the future
7. The redefined shopping center
8. The new luxury
9. The new consumers and who they are
10. Changing standards of department stores
11. Is there a role for great merchants in the future
I believe Marvin's wisdom and principles are vital now more than ever. With our economy hurting badly, an overall lack of creativity amongst department stores and their overall retail strategy becoming an extinct dinosaur this is a book to take heed to.
I firmly believe that changing technology combined with quality products and great merchandising amongst retailers will be the key to success in the future. Consumers need a reason to be excited and to shop!
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