Hearts and minds
Supporters of the degree are also keen to change the way retail jobs are sometimes viewed.
‘‘Retail is an industry which has always had a bit of bad press for being long hours, not very enjoyable, low paid, not very fun work’,’’ Elms says. In reality, it can be socially and emotionally rewarding and financially lucrative.
Elms has arrived at a time when Kiwi retailers, many of whom are small operators, are waging a war with overseas online merchants for customers.
It’s a global marketplace, he agrees, but locals can still have an edge.
‘‘The local firm is likely to be more aware and savvy of what’s going on in the local marketplace.’’
Service, good after-sales care, a useful help desk and a quick returns policy are all things a Kiwi firm can do as well if not better than their offshore rivals.
Plus, there’s no reason Kiwi retailers can’t compete offshore themselves.
However, Elms says it’s important for retailers to be willing to tweak their strategy on the path to global domination. He calls it ‘‘glocalisation’’.
‘‘It’s really just thinking about the differences in consumer culture in each of your markets.’’
Another trend Elms sees emerging in the retail-sphere is the use of ‘‘big data’’.
Data mining means retailers can target shoppers with very specific offers and discounts, and alert them to new products or services.
A customer who, for example, bought a TV six years ago, might be offered a discount on a new TV which fits their tastes.
Big businesses with a big client list obviously have an advantage here, but even one and two-man bands can learn from this, Elms says.
‘‘Smaller companies can actually be a lot closer to the marketplace and their consumers than big companies, so they need to utilise that closeness.
‘‘They can achieve the same thing as data mining but on a much closer, personal one-to-one level.’’
And with a bit of application, they ‘‘can be even closer to their customers than the big multi-nationals’’.