32 Top retail Brands Reveal 32 Success Secrets

32

LEADING RETAIL BRANDS

REVEAL

32

SUCCESS SECRETS Presented by

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Ever wished you had the chance to sit down with the CEO or founder of one of the most successful brands ever and ask them what is their

success secret?

Well, even though we can’t really arrange that meeting for you, what we can do is present the most valuable words of wisdom from the most

successful people in the business.

So are you ready?

Let’s go!

01


“There are going to be some people who

never want Wal-Mart. That’s OK”

Wal Mart CEO, Lee Scott

01 BE REALISTIC


“Success is making ourselves useful in the

world, valuable to society, helping in lifting

in the level of humanity, so conducting

ourselves that when we go the world will be

somewhat better of our having lived the

brief span of our lives.”

Target Founder , George Draper Dayton

02 GIVE BACK TO SOCIETY


“One of the things which make any

company successful, in particular the Home

Depot, was that we understood and catered

to the customer.

If it didn’t sell, it didn’t make a difference

what we thought or our research told us.

They told us if it was successful by buying it

or not.”

Home Depot Founder Bernard Marcus

03 VALUE YOUR CUSTOMER


“What we need to do is always lean into the

future;

when the world changes around you and

when it changes against you – what used to

be a tail wind is now a head wind – you

have to lean into that and figure out what to

do because complaining isn’t a strategy.”

Amazon Founder Jeff Bezos

04 MAKE THE BEST OUT OF EVERYTHING


“The brilliant moves we occasionally make

would not have been possible without the

prior dumb ones”

CVS/ Pharmacy founder Stanly Goldstein

05 MAKE MISTAKES


“Walgreens switched its focus from

profit per store

to

profit per customer visit.”

Walgreens Former CEO Charles Walgreens

06 BE CONSUMER CENTRIC


“There is only one boss.

The customer.

And he can fire everybody in the company from

the chairman on down, simply by spending his

money somewhere else”

Sam’s Clubs Founder, Sam Walton

07 KNOW WHO THE REAL BOSS IS


“What makes eBay successful – the real value and the

real power at eBay – is the community.

It’s the buyers and sellers coming together and forming

a marketplace.

eBay Founder, Pierre Omidyar

08 BUILD A COMMUNITY


“As a company, this team has an amazing track record

of transformation, business success and driving

shareholder value, and our management team has

clearly understood and embraced the need for change,

the need to innovate, and to evolve in what is a rapidly

changing market.”

Coach CEO Victor Luis

09 ALWAYS BE PREPARED FOR CHANGES


“Never let making a profit stand in the way of doing the

right thing”

Publix Founder, George Jenkins

10 NO MATTER WHAT- ALWAYS DO THE RIGHT THING


“This goal is now at hand.

I now desire to build this business into the largest and

most successful of its type in the world, owned and

controlled by those who have built it.”

Lowe’s Founder, Carl Buchan

11 BE AMBITIOUS


“We want you to take the initiative, and we’ll support

your efforts to deliver exceptional service.”

Nordstrom Founder John W. Nordstrom

12 EMPOWER YOUR EMPLOYEES


“Our view is we want to have a company for the long

haul and continue to grow the sales and grow the profits

fairly and make sure there’s always opportunity for our

employees to grow”

Costco CEO, Craig Jelinek

13 GIVE YOUR EMPLOYEES OPPORTUNITIES TO GROW


“The consumer today

is bombarded with information

and all they want to know

is what is it going to

cost them every day”

Dollar General CEO, Rick Dreiling

14 UNDERSTAND YOUR CUSTOMER


“I do believe you have to get away sometimes…

to get a fresh perspective.”

Victoria’s Secret CEO, Sharen Jester Turney

15 KNOW WHEN TO TAKE A BREAK


“I think the more a big, well known brand

like Macy’s can personalize the

shopping experience

the better chance you will have at

fending off all forms of competition.”

Macy’s CEO, Terry Lundgren

16 IT’S ALL ABOUT PERSONALIZATION


“We have the possibility of having

relationships with every single customer

we do business with regardless of whether they use a

Kohl’s charge or not.

That gives us the ability to communicate one on one

with us with them.”

KOHL’S CEO, Kevin Mansell

17 BUILD RELATIONSHIPS WITH YOUR CUSTOMERS


“Customers deserve to know the

ramifications of their purchase decisions,

and it is this knowledge and the

choices it inspires that can empower

those in the industry making the case for responsible

behavior.”

Tiffany & Co. CEO Michael J. Kowalski

18 EDUCATE AND INFLUENCE YOUR CUSTOMERS


“While I’m really proud of what the team has

accomplished over the past two decades,

I’m even more impressed with our people’s commitment

and enthusiasm to keep driving our business forward”

Staples CEO, Ronald Sargent

19 SHOW YOUR CUSTOMERS APPRECIATION


“There’s a great deal of similarity between retailing and

hospitality”

Best Buy CEO, Hubert Joly

20 YOUR CUSTOMERS ARE YOUR MOST VALUABLE GUESTS


“It’s not enough to give courteous service, we must give

knowledgeable service”

Autozone Founder, J.R. Hyde III

21 ADD EXTRA VALUE TO YOUR CUSTOMER SERVICE


“Cooperation is the life of this business.

The secret of the success

of this company

rest upon this

one word”

Avon Founder, David H McConnel

22 NEVER WORK ALONE


“I think the culture sees its okay to take risks, its okay to

take a step forward and remain open to what you can

learn.”

Whole Foods CEO, Walter Robb

23 DARE TO TAKE RISKS


“Our company continues to demonstrate values that,

from the beginning, set us apart—

creativity, risk-taking, integrity, loyalty, doing what’s right

and staying focused on our customers”

Gap Founder, Donald Fisher

24 STAND FOR REAL VALUES


“We still do everything that we think is right, long term

and short term, and it comes out right.”

Bed, Bath and Beyond Founder, Warren Eisenberg

25 TRUST YOUR INSTINCTS


“People like consistency.

Whether it’s a store or a restaurant,

they want to come in and see what

you are famous for.”

Old Navy Founder, Millard Drexler

26 BE CONSISTENT


“We must first picture in our minds the aims we strive

for;

we must behold a vision of what we long to be”

Sherwin- Williams Former CEO, Walter H. Cottingham

27 KNOW WHAT YOUR COMPANY STANDS FOR


“Think of the genius bar at an Apple store –

that could give you a hint about what

we’re talking about”

Shoppers Drug Market CEO, Dominic Pilla

28 GET INSPIRED BY OTHER COMPANIES


“The way you continue to position the brand and keep

its momentum is to continue to focus on great technical,

beautiful products”

Lululemon Athletica CEO, Laurent Potdevin

29 INVEST IN THE PRODUCT


“We can do so much to make the world a better place. The

advantage of financial well- being can make a person

indulgent, rob him of the true measure of meaningful

accomplishment and allow him to live a shallow life; or it can

give him the ability to make a difference in the world that

cries out for compassion, action and commitment.”

Ross, dress for less Founder, Stuart G. Moldaw

30 MAKE A DIFFERENCE IN THE WORLD


“Our value proposition

has resonated with consumers for 37 years,

across different geographies, retail climates, and in both

strong and weak economies.”

TJX CEO, Carol Meyorowitz

32 MAKE SURE YOUR VALUE PROPOSITION IS BELIEVABLE


Every one of these people had found their way to the top by being creative and by being able to think outside of the box. It takes patience and perseverance- but most importantly, it’s all about learning. So take these bullet proof pieces of advice and think how you can implement them and make them your own.

Change is the end result of all true learning

Leo Buscaglia

32 Top retail Brands Reveal 32 Success Secrets

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