It finally seems that most people have caught up to the fact that reports of retail’s death are greatly exaggerated. But the middle is collapsing
shed light on the concentration of poor financial performance and store closings among those brands stuck in the middle. The report also dissected some of the macro-economic factors—essentially low- and middle-income households losing spending power and very affluent gaining it—that helps explain the polarity of outcomes.
As power shifts to the consumer, competition intensifies, choices abound and we are all flooded with a tsunami of information and clutter, no brand is going to command attention, much less get us to part with our cash without delivering some unique, memorable and intensely customer relevant. Good enough no longer is. A slightly better version of mediocre won’t cut it.
The lack of innovation and risk taking is catching up with all these retailers that watched the last 20 years happen to them. It’s death in the middle. All those that are drowning in a sea of sameness need to make a run for the edges. Or, like many before them, it will be a run to the exits.
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