Research by MBS’ John Pal and Dominic Medway has identified four key areas that mark out a retailer.
Based on 14 in-depth key informant interviews with senior executives in and around the retail sector, the research found a retailer must have:
– a clear understanding of product
– retail intuition
– understanding of fundamental retail concepts – especially the customer
– generic skills – communication and people
Commenting on the findings John Pal said: “What was of interest is that our respondents were saying that those in senior positions need to have a real ‘feel’ for retail. This has implications for spotting, retaining and developing talent in retail firms.”
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