2016: Most Ethical Retail Firms According to Ethisphere Institute

Posted on March 15, 2016 by bermanevansretail
There are various reports about the most ethical firms in the world. One of the most comprehensive such reports is compiled by the Ethisphere® Institute.
According to its Web site:
“The Ethisphere® Institute is the global leader in defining and advancing the standards of ethical business practices that fuel corporate character, marketplace trust and business success. We have a deep expertise in measuring and defining core ethics standards using data-driven insights that help companies enhance corporate character. Ethisphere believes integrity and transparency impact the public trust and the bottom line of any organization. The World’s Most Ethical Companies is a distinction that honors superior achievements in transparency, integrity, ethics and compliance.”
“The World’s Most Ethical Companies® program honors companies that excel in three areas – promoting ethical business standards and practices internally, enabling managers and employees to make good choices, and shaping future industry standards by introducing tomorrow’s best practices today. Honorees have historically out-performed others financially, demonstrating the connection between good ethical practices and performance that’s valued in the marketplace. In 2016, 131 honorees were named spanning 21 countries and five continents and representing over 45 industries. In its 10th year, the list includes 14 ten-time honorees and 13 first-time honorees.”
Of the 131 honorees for 2016, these are among the retail or retail-related firms (in alphabetical order):
* Allstate Insurance 
* H&M Hennes
* Dell Inc. 
* H&M
* illycaffe spa
* Levi Strauss
* Marks & Spencer
* Marriott International
* Northern Trust
* Petco Animal Supplies
* Prudential Financial
* Starbucks
* T-Mobile U.S.
* Target
* U.S. Bank
* Visa
* Wyndham Worldwide

 

Click the image to see all of the 2016 honorees.

 

Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 7: Communicating with the Customer, Privacy and Identity Theft Issues | 2 Comments

This Ad Is from Sam’s Club, Yes Sam’s Club

Posted on March 14, 2016 by bermanevansretail
Sam’s Club (a part of Wal-Mart Inc.) is the second-largest membership warehouse club in the United States, after Costco. It has annual revenues of nearly $60 billion, more 650 stores in the United States and Puerto Rico, and has 47+ million members. It carries a full range of products, including private brands:
“In addition to the leading national brands, Sam’s Club also carries an assortment of exclusive, premium-quality private brands. In fact, we like to think of ourselves as a club of brands that offer our members savings, quality and the unexpected find. These are brands that are the essence of Savings Made Simple: Daily Chef – quality fresh, dry and freezer/cooler grocery; and Members Mark – general merchandise, business and office supplies.”
To better personalize itself, Sam’s has run some cute and humorous ads. Here’s one; it has been viewed more than 2.2 million times on YouTube.
The ad certainly involves thinking out-of-the-box for a chain of warehouse stores.


 

To learn more, click here to access an Advertising Age article about the above.

 

Posted in Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Social Media and Retailing, Video Clips (non-career) | Tagged , , , , , , , , , , | 1 Comment

Online Retailers Not Always Offering Real ‘Sales’

Posted on March 11, 2016 by bermanevansretail
As we wrote a short time ago, companies are not always transparent or honest when they say an item is ‘on sale’ when it really is not: “Unfortunately, many retailers misuse the term ‘sale.’ And shoppers are often persuaded that a product is on sale even when it isn’t. According to Evans and Berman’s Marketing in the 21st Century: Price advertising guidelines have been set by the FTC and trade associations such as the Better Business Bureau. The FTC’s guidelines set standards of permissible conduct in these categories.”
STILL not convinced that all ‘sales’ really are sales? 
Then, consider these observations from David Streitfeld, writing for the NY Times:
“The perception of a bargain is fostered by online retailers’ use of something variously labeled list price, suggested price, reference price, or manufacturer’s suggested retail price. Whatever its name, the implication is that people are paying much more somewhere else. But with many products online, you could not pay the list price even if you wanted to. That is because hardly anyone is actually charging it. It is a sales tactic that is drawing legal scrutiny, as well as prompting questions about the integrity of E-commerce. If everyone is getting a deal, is anyone really getting a deal?”
“Here is one recent example of how retailers use list prices to motivate online buyers: Le Creuset’s iron-handle skillet, 11 ¾ inches wide and cherry in color. Amazon said that it would knock $60 off the $260 list price to sell the skillet for $200. Sounds like a bargain, the sort of deal that has helped propel Amazon to over $100 billion in annual revenue. Check around, though. The suggested price for the skillet at Williams-Sonoma.com is $285, but customers can buy it for $200. At AllModern.com, the list price is $250 but its sale price is $200. AtCutleryandMore.com, the list price is $285 and the sale price is $200. An additional 15 or so online retailers charge $200. On Le Creuset’s own site, it sells the pan for $200.”

 

Click the image to read more from the NYT.

A Le Creuset 11¾-inch skillet sold for $200 at more than a dozen Web sites, but the list prices they quoted varied. Photo Credit :Gretchen Ertl for The New York Times

 

Posted in Online Retailing, Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Social Media and Retailing | Tagged , , , , , , , , , , , , , , | 1 Comment