Question

If your team was asked to consult for a large volume bricks and mortar bookstore, such as Chapters, which corporate strategies would you recommend to the company’s senior leadership?

Answer 1

Some of the suggestion for senior leadership would be towards focusing on the vision, objective setting, resource allocation and most importantly look into the prioritization by having optimal strategic mix for the brick and mortar book store. One way of attracting potential customer are offering “pop up shops”. These are like short term temporary events to create brand awareness and draw more people. It helps in developing association with other retailers which may get involved in chapters. To make the memorable experience of the customer it is better to offer the personalized shopping experience or more tailored shopping experience. It would help in no maintenance of the inventory by focusing on the customer experience. Another way is to incorporate digital experience to the customer by utilizing the technology as a tool. For example, having kiosks with digital screens for showing personalized content, providing recommendation or details on special discounts or offers, make use of cloud based technology to have anytime anywhere transaction, use of radio frequency identification (RFID) for tracking inventory electronically, etc. Similarly, prioritize sales employees and can go for multi-channel access.