See also how pivotal events
Posted: Mon Apr 21, 2025 3:51 am
So the key is to get the products customers have to have right like household needs at a great value. Rethinking merchandise strategy and digital investments as a result rowley said big lots must rethink its merchandise strategy and find ways to beat walmart and amazon adding having closed their poorer performing stores gives them a chance to invest in the rest. One of the mistakes big lots made was its failure to adapt to the economic changes impacting its customer base rowley said.
Value retailers have been hit hard by the increased inflation he australia cell phone number list said. First it significantly raised the price of the products it purchased. Second it caused their key customers to shop for mostly basics as their discretionary income was consumed by inflation. This reduced sales of higher margin nice to have products. Big lots faced this even more with their furniture offering. Regarding ecommerce rowley said he thinks its a tough space for value retailers for two reasons.
First much of their product is bought from factories and other retailers so it is hard to have a consistent online offering. Second many value customers are cash customers. They buy products when they cash an income check. But having core product online as well as specials can help drive traffic to the store. In an interview with pymnts zachary robichaud instructor at the school of retail management ted rogers school of management toronto metropolitan university said big lots faces a pivotal moment where it must reimagine its approach to customer engagement and experience to remain competitive.
Value retailers have been hit hard by the increased inflation he australia cell phone number list said. First it significantly raised the price of the products it purchased. Second it caused their key customers to shop for mostly basics as their discretionary income was consumed by inflation. This reduced sales of higher margin nice to have products. Big lots faced this even more with their furniture offering. Regarding ecommerce rowley said he thinks its a tough space for value retailers for two reasons.
First much of their product is bought from factories and other retailers so it is hard to have a consistent online offering. Second many value customers are cash customers. They buy products when they cash an income check. But having core product online as well as specials can help drive traffic to the store. In an interview with pymnts zachary robichaud instructor at the school of retail management ted rogers school of management toronto metropolitan university said big lots faces a pivotal moment where it must reimagine its approach to customer engagement and experience to remain competitive.