Retailing In The Recession: Playbook #1 - Through The Looking Glass
Brought to you by The Store—WPP
THIS report is the first in a series ofPlaybooks to help retailers and brandmarketers succeed in today’sunprecedented global financial andeconomic crisis.
A playbook should be filled with rules,regulations and directions deemedimmutably correct by experience.The problem, of course, is that experienceis inadequate for today’s challenges.
Some venerable financial institutionshave suddenly disappeared. Others havereceived protection from governmentsknown for the promotion of free markets.Consumers recently hungry for premiumgoods now are on a spending diet.Inflation is reversing to deflation.
We seemed to have passed throughthe looking glass.
We have entered a place where usefuladvice can not be formulaic, wherea playbook in the traditional sense isanachronistic and insufficient, but whereguidance is required more than ever.Although little is certain in this globaleconomic turmoil, we know this for sure:It will end. Many of today’s retailers andsuppliers will be history. Most will simplysurvive. A select few, however, will fallinto a third category. They will emergestronger—because they seek opportunitieswhere survivors see only challenges. Thisvision requires intelligence and invention.
That’s where we come in. Using theunparalleled insight and resources ofThe Store —WPP, these Playbooks willidentify and analyse what’s working andwhat’s not in retailing and brand marketingworldwide. They are intended to helpstimulate and focus conversations amongWPP experts and clients; conversationsthat translate Playbook insights intoactions to gain competitive advantage.
We begin this first Playbook witha strategic summary. It explains today’sretailing weakness as act one in a threeact drama. This perspective helps informboth immediate and long-term activities.The strategic summary is followed byinsights into consumer behaviour, keytake-aways for retailers and suppliers,and selected action items.
For additional in-depth information,check out three recent webcast Fast-TrackBriefings about Retailing in the Recessionproduced recently by The Store —WPP.Learn how to view the complete webcastsat the end of this report.
These regular webcasts, podcasts,and the quarterly Playbooks are partof The Store —WPP commitment tosharing best retail practice worldwide andits promise to deliver honest, current, anduseful insights to help clients succeed inthe challenging and rapidly changing state of retailing worldwide.
Download the Playbook (pdf, 790Kb)
DAVID ROTHCEO The Store — WPP
Europe, Middle East, Africa and Asia
[email protected]