Classic Marketing Mistake #1: Culture
Classic Marketing Mistake #2: Authenticity
Classic Marketing Mistake #3: Innovation
Business in the time of coronavirus is tough, no doubt. And I have a ton of empathy for companies that are giving it their all to survive. Truly, we’re all in this together.
That said, there’s one segment of the business world that I don’t have much compassion for: old-school fashion retailers. And ironically enough, they’re the ones who are loudly trying to lay the blame for their demise on COVID-19 and the rise of WFH.
When I see headlines that link coronavirus to bankruptcy for global retailers like Neiman Marcus, J. Crew, and Brooks Brothers, I can’t help but think that the real virus that’s drained the life out of these companies has been in their systems for years. Topping the list of underlying conditions is not caring about what today’s customers want and need. I mean that on a deep, core-value level. On the surface, each of those companies has tried to keep up with the times by building a robust digital presence.
But underneath that fancy outer layer lurks the truth: I blame the hubris that infects CEOs and spreads…
