WHAT BIG CONSUMER BRANDS CAN DO TO COMPETE IN A DIGITAL ECONOMY
by Howard Yu
No industry is failing faster than retail. The 125-year- old Sears—once the world’s largest retailer—filed for bankruptcy. The public has more or less come to expect the shuttering of stores such as Macy’s, Sears, Toys “R” Us, Kmart, Kohl’s, J.C. Penney, and Barnes & Noble. The ones that manage to escape are discount chains—such as T.J. Maxx and Marshalls—which compete aggressively on price.
Price competition hurts. It also hurts the brands sold inside the stores, which in part explains why consumer product giants like Procter & Gamble are seeing their sales stagnate for products like Tide detergent, Gillette razors, Pampers diapers, and Crest toothpaste.
A report ...