Earlier this month Myer announced its financial results for the 53 weeks to 30 July 2016, marking the first year of the New Myer strategy.
Like many other ‘fit’ retail strategies today, the ‘New Myer’ strategy, aims to be truly ‘customer centric’, but what does this really mean?
Customer centricity has become yet another buzz word of many great retailers in the strategy building process, but it rarely sees light of day when it comes to implementation in stores.
Myer is set to change this.
After a year of extensive ‘listening’ by CEO Richard Umbers, the customer centric strategy is beginning to come to life in the form of new brand partnerships, a culture of channel agnosticism, and increased levels of ‘relevance’ in stores from product categories to store design, both geographic and demographically.
Training employees to provide a better customer experience will also be a key part of this strategy, especially to enact the behaviour change necessary for true customer-centricity.
This week, Richard Umbers spoke confidently of the ‘New Myer’, Warringah store due to open November 2016. The new store will encompass what it means to implement a truly customer-centric strategy, challenging brand perceptions, and showing Myer in a whole new light.
The store “is set to become a new benchmark for department store retailing” says Richard Umbers. “It will be the first physical embodiment of our customer led New Myer strategy.” Intrigued? So are we!
On 30 November 2016, Retail Doctor Group will host Richard Umbers as the keynote speaker at their ‘Fit for Business’ Breakfast in Melbourne, providing audience members with the opportunity to gain exclusive insights into the successes and hurdles faced by the New Myer store in Warringah within its first month of opening.