Competing in Tough Times: Business Lessons from L.L.Bean, Trader Joe’s, Costco, and Other World-Class Retailers

Introduction

The overall focus of this book deals with competitive strategies that retailers can undertake that are based on cost, differentiation, and value. In the current low-growth economic environment, any retail business store that conducts “business as usual,” using the same strategies and tactics that have worked in the past, will not prosper or perhaps even survive. One way that business consultants improve a firm’s performance is to study the “best practices” in the industry. It should come as little surprise to most industry observers that the “best-practice retail leaders” chosen by the author are Aldi, Amazon.com, Costco, L.L.Bean, Nordstrom, Publix, Stew Leonard’s, Trader Joe’s, Wegmans, and Whole Foods. In each chapter, the strategies ...