Innovation Is Key to Regaining Pricing Power and Growing Revenues, According to Kanbay Research Institute's 2006 Retail Demand
17 Agosto 2006 - 3:12PM
PR Newswire (US)
U.S. Consumers Rate the Most Desired Retail Companies ROSEMONT,
Ill., Aug. 17 /PRNewswire-FirstCall/ -- Even though consumers in
the US today have more places and ways to shop than ever before,
industry growth has been cut in half when comparing 2000-2005 to
1995-2000. The primary cause of the decline is due to a lack of
retailer innovation, according to Kanbay Research Institute's (KRI)
latest report on retail demand. The report, which was released
today, is entitled "Retail Demand Today: How Well Retailers Deliver
on America's Shopping Desires." The report augments the data
presented in Retail Demand Insights 2006, a co-branded report
between the KRI and the NRF Foundation and sponsored by SAP
Americas, which was released at the NRF's annual convention in
January 2006. The study identifies the top performing retailers in
16 major retail categories: -- Auto Parts: Autozone -- Books:
Books-a-Million and Barnes & Noble (NYSE:BKS) -- Clothing
Stores: Men's Wearhouse (NYSE:MW) -- Cosmetics: Revlon (NYSE:REV)
-- Department Stores: Kohl's -- Discount Stores: Target and Dollar
Tree -- Drug Stores: CVS/pharmacy (NYSE:CVS) -- Electronics: Kodak
(NYSE:EK) -- Internet/Catalog: Amazon.com and Netflix (NASDAQ:NFLX)
-- Jewelry & Accessories: Tiffany & Co. and Gucci (foreign)
-- Office Supplies: Office Depot (NYSE:ODP) -- Package Delivery:
FedEx (NYSE:FDX) -- Pet Supplies: PetSmart (NASDAQ:PETM) --
Specialty Goods: Carters (NYSE:CRI) -- Sporting Goods: Sport Chalet
-- Toys: Hasbro KRI is an operating unit of Adjoined Consulting
LLC, a subsidiary of Kanbay International, Inc. (NASDAQ:KBAY), a
global management consulting, technology integration and
development, and outsourcing firm. In the 2006 study, KRI conducted
6,674 web-based interviews with U.S. consumers, rating 104 of the
leading retail companies to discern how well their desires are
being met and identify emerging trends in the industry. Although
retailers as a group have improved their delivery substantially
since 2004, pricing power with consumers has dropped 68% from 8.1%
to 2.6%. Most improvement has focused on either cost-cutting or
opening more stores. Yet, shoppers increasingly want retailers to
better connect with them in new and exciting ways. Several
retailers are developing competitive advantages to hold customers
captive and enable consistent revenue growth. Economies of skill,
which are the benefits achieved from core competencies in a
retailer's supply chain, is where most leading retailers today are
building moats around customers and generating a disproportionate
share of profits over their competitors. Petsmart, ranked as one of
the top ten most desired retailers by consumers, has achieved the
highest moat rating for economies of skill with its integrated
stores and web site offering services and solutions to pet owners.
"Developing competitive advantage in the retail industry is one of
the more difficult challenges," said Gary A. Williams, executive
director of the Kanbay Research Institute. "Retailers must create
barriers of entry for competitors by innovating their strategies,
operations, technologies and business models. " Among the key
findings in the report, consumers want to take advantage of
technology and integrated shopping methods by interchangeably using
physical stores, web sites and catalogs to make purchases. "With so
many choices today it's critical for retailers to become truly
demand-driven," said John White, executive director of Kanbay's
Consumer & Industrial Products practice. "This requires
retailers to not only continually understand the emerging needs of
consumers, but also how to focus internal resources and systems to
meet those needs in the most efficient way. Some retailers, such as
Barnes & Noble, Coach, Estee Lauder and Kohl's, have been
focused on these initiatives for quite some time already." The 2006
edition of Retail Demand Today provides a complete list of consumer
ratings for 104 retailers overall and by category. To download a
complimentary copy, go to
http://www.kanbayresearch.com/reports/retail.htm or contact us at .
Other reports published this year identify innovators from other
industries. The 2006 edition of Travel Demand Today highlights Jet
Blue as the leading airline company and Harrah's Entertainment
winning for casinos. This report can be found at
http://www.kanbayresearch.com/reports/travel.htm and provides a
complete list of consumer ratings for the travel industry. About
the Kanbay Research Institute The Kanbay Research Institute (KRI)
is an operating unit of Adjoined Consulting LLC, a subsidiary of
Kanbay International, Inc. Originally founded in 1998 and formerly
the independent research division of Adjoined Consulting, Inc., the
KRI conducts primary research on an original set of leading
indicators that measure consumer demand across functional,
emotional and economic factors. Through a patented research system,
comprehensive market models are built based on consumer desires
that measure how well leading companies are meeting those desires.
The KRI researches and analyzes over 300 market leading companies
on a continual basis, with over 14 million data points since 2001
in a standardized fashion. The research provides strategic,
technological and operational insights about how today's best
performing companies tap into unmet customer demand to build
long-term, economic advantages over the competition. For more
information, contact 800-840-5148 (U.S. only) or at 703-788-6751
worldwide, or visit http://www.kanbayresearch.com/. About Kanbay
International, Inc. Founded in 1989, Kanbay International, Inc.
(NASDAQ:KBAY) is a global IT services firm with more than 6,200
associates worldwide. Kanbay provides a highly integrated suite of
management consulting, technology integration and development, and
outsourcing solutions through a proven global delivery platform to
clients focused on Financial Services and Consumer & Industrial
Products, as well as an emerging presence in the Communications
& Media and Life Sciences industries. Kanbay is a CMM Level 5
assessed company headquartered in greater Chicago with offices in
North America and India as well as London, Singapore, Hong Kong,
Tokyo and Melbourne. Further information about Kanbay can be found
at http://www.kanbay.com/. DATASOURCE: Kanbay International, Inc.
CONTACT: Megan Grabos, +1-312-861-4710, , or Caroline Hoenk,
+1-312-861-4706, , both of Financial Dynamics, for Kanbay Web site:
http://www.kanbayresearch.com/reports/retail.htm
http://www.kanbayresearch.com/reports/travel.htm
http://www.kanbayresearch.com/ http://http//www.kanbay.com
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