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Trade News Archive April 08 March 08 February 08 January 08
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17th April 2008
Sir Phillip advises retailers to be inventive
Industry mogul Sir Phillip Green has urged retailers to look for new and innovative ways to attract new customers to their business.
Speaking at the World Retail Congress in Barcelona, Sir Phillip claimed that offering lower prices was no longer enough to attract new shoppers - especially in the midst of mass belt tightening, Retail Bulletin reports.
"Far too many people are driving down the price route but there will need to be differentiation...with newness and speed to market," he said.
"Be competitive but also offer something different. To get people to shop in your stores you need to have something different," Sir Phillip added.
Meanwhile, new research has revealed that independent retailers remain confident in the future of their businesses despite the credit crunch.
The study revealed that 72 per cent of small retailers are confident about their future, while a further 50 per cent hope to expand their operations.
(c) 2008 Adfero Ltd
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