Crain’s Chicago Business reports that at the Sears annual meeting this week, chairman Edward Lampert and CEO Louis D’Ambrosio made the case for why the company will be able to avoid the fate of Borders and other failed retailers, “counting on technological innovation, operational belt-tightening and an improvement in basic retail execution to return the struggling retailer to consistent profitability.”
The executives said that a key to their strategy is the integration of the company’s physical, mobile and online operations, and “will connect its customer experience in stores, online, in customers' homes via its service and delivery segment and on the phone via its call center.”
“We believe customers operate in many different worlds simultaneously,” said D'Ambrosio.
Sears also has a rewards program that “allows members to earn and spend points across Sears, Kmart and Lands’ End merchandise, return items without receipts and create ‘shopping lists’ much like Amazon wish lists.” The program also “allows the company to mine valuable customer data and dig deeper into their shopping habits,” the story says.
"We're moving from an era of guessing to one of knowing," said Lampert.
The executives said that a key to their strategy is the integration of the company’s physical, mobile and online operations, and “will connect its customer experience in stores, online, in customers' homes via its service and delivery segment and on the phone via its call center.”
“We believe customers operate in many different worlds simultaneously,” said D'Ambrosio.
Sears also has a rewards program that “allows members to earn and spend points across Sears, Kmart and Lands’ End merchandise, return items without receipts and create ‘shopping lists’ much like Amazon wish lists.” The program also “allows the company to mine valuable customer data and dig deeper into their shopping habits,” the story says.
"We're moving from an era of guessing to one of knowing," said Lampert.
- KC's View:
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I think the scariest thing about the article is the passage that reads...
"This myth was perpetuated that we don't invest" in stores, Mr. Lampert said. "What's fair is that we haven't spent a lot of money on stores," but he said that's because of a lack of good ideas about how to spend the money there.
It isn’t like Lampert is a new owner; he bought the damned company years ago, and ought to have some idea - or people with some idea - about what to do with the stores.
It is hard for me to imagine that these guys have the kind of imagination and vision to make Sears a viable and relevant retailer again. Maybe I’m wrong - it isn’t like there ever is a reason for me to shop at Sears. But the company just seems to lack any sense of vision.
