My karate Sensei used to say that practice does not necessarily make perfect. Only good practice makes perfect.
This still resonates with me as it aligns with a Total Quality Management focus on knowledge, rather than experience, as the key factor in making employees and management more effective within a business.
Such was the warning from the so-called experts back in 1910 when the retail world was being transformed by mail order.
The online juggernaut has created a case of déjà vu. Again, we are hearing warnings that online retail will replace bricks and mortar.
Retailers beware: the debate about changes to the Australian GST system is gaining momentum. A discussion paper recently released by the Treasury builds a case for an increase to Australia’s rate of goods and services tax, along with other proposed tax system amendments.
On March 16, 2015, Australian Associated Press released an article titled “Soft results expected from Myer”. With half-yearly data released today, the ‘soft’ performance has been attributed to “a lack of relevance with customers” and increased costs linked to refurbishments and other investments.
This article originally appeared in Inside Retail on 21 November 2014.
You can easily spot a catastrophe, but gradual decline can go on for years unnoticed. This is the reality for the Australian retail industry, slowly suffocating under the burden of ever-increasing labour costs, onerous workplace regulations and tax and duty free direct imports. Yet, no one seems to care.