LOCATION, LOCATION, LOCATION
April 27, 2017
It’s a long held truth of retail that when it comes to competitive advantage, nothing is ever as important as location. But when Armando Perez, Senior VP for the Houston Division of the H.E.B. Grocery Company, read the latest CCRRC report about the future state of food retail, he was struck by the fact that location does not matter anymore.
“In the past, having a monopoly on location and exclusivity within the grocery business usually meant that you were going to be fairly successful,” Perez said. “In today’s environment where everything is available all the time to everyone, no longer just with a computer but to everybody with a cell phone, it’s something you need to get your arms around.”
The barriers and advantages that existed previously matter less today thanks to social media shopping, shopping apps and other ecommerce technologies. Increasingly, retailers must reevaluate their approaches to best align with the demands of an ever-changing consumer to grow their business.
Perez and his team at HEB found the diagnostic included tool included in the CCRRC report an excellent way to assess their strategy for future success.
“It’s a simple scoring system that’s not overly complicated,” said Perez. “The measurements that you’re using to judge your company are pretty easy if you’re honest with yourself. It gives you a simple answer—you’re either on your way, not on your way or really need to get going.”
See where your company lands on the diagnostic in the report by accessing the report for free at www.ccrrc.org and listen to Perez’s podcast below. Check back in two weeks for the next installment.