Monday morning’s Globe and Mail featured an article by Marina Strauss on the front page of Report on Business entitled Holt Renfrew resizes strategy to focus on core markets, brands that immediately had me high-five’ing the air above my newspaper. Holt Renfrew (for my non-Canadian readers, it’s our answer to Neiman-Marcus) wanted to improve business so they finally did something I’ve been suggesting to The Hudson’s Bay Company in letters, emails and blog posts for years, which they’ve categorically ignored. Holt Renfrew (are you sitting down?) actually asked their customers what they could do better. Remember us? The often ignored customer is retail’s entire raison d’être but few retailers recognize that obvious fact.
I won’t bore you again with all the links to previous blog postings I’ve written about The Hudson’s Bay Company’s missteps that could be totally alleviated if they just listened to me, the customer. Holt Renfrew President Mario Grauso is either a regular follower of boomerbroadcast.net (yeah! right!) or he’s as smart as I am!! He actually invited real, live customers of Holt Renfrew to a meeting and listened to their suggestions on how to improve business. And, to his horror and enlightenment, they told him. Here are just some of the things Holt’s customers wanted but weren’t getting:
- more sizes that address a wider range of real-life bodies, including half sizes in shoes.
- greater personal assistance in interpreting trends and styling.
- better editing of merchandise so the shopping experience is not so overwhelming.
- improved on-line shopping
Well. Blow me down. Aren’t these exactly the same things I’ve been ranting about for years? Grauso fired about half of Holt’s top executives and corporate staff, and eliminated many brands including Clinique and Michael Kors as well as their HR2 off-price locations that weren’t producing. Grauso is reinventing and repositioning Holt Renfrew to better serve (hold your breath) —yes, it’s true—their customers. Who knows better than we do what we want to lay out our heard-earned cash or credit card to buy? It would seem obvious to most consumers of retail goods but not to The Hudson’s Bay Company and countless other retailers.
The transition for Holt Renfrew will not happen overnight and probably will not be without some pain involved, but I think we’ll all be the ultimate beneficiaries—not to mention the owners of the privately-held business, the already-wealthy Weston family. Ironically, I’m not a prime Holt Renfrew customer (now that I’m retired) as their price points are somewhat beyond my budget, but I admire and heartily endorse their initiative. And I love to browse their store, holding up lovely items to admire myself in the mirror in futile attempts at my quest for a new and improved me.
P.S. OK. I lied about not including links to former postings. Forgive me, but here’s the most recent one, which should tell you all you need to know about my campaign to get retailers to listen to customer needs and wants. It’s all in a day’s work, or should be, for any retailer. (I probably don’t need to c.c. Mario Grauso as he obviously already follows boomerbroadcast.net.)
You’re beautiful mes très chères.