By Dave Wendland
Theodor Geisel, better known as Dr. Seuss, was absolutely correct when he suggested in the book, Oh, the Places You’ll Go! published 35 years ago, that it’s OK if something has not been done before. In this iconic book, Geisel said despite “bang-ups and hang-ups,” anything is possible.
In today’s fast-paced, technology-fueled retail environment, progressing forward despite unchartered waters and unproven approaches is imperative. Waiting for perfection equates to standing still — which will soon leave retailers, suppliers, and others behind the pack. Geisel summed it up this way, “Knowing that playing a waiting game is key to remaining stuck.”
We are witnessing a tremendous degree of transformation across the retail landscape. In particular, the onslaught of artificial intelligence-enabled solutions is staggering. AI has dramatically increased speed, efficiency, and accuracy across nearly every aspect of retail business.
From inventory management and demand forecasting, bot-driven customer service applications, shelf-level personalization, staffing optimization, synchronized online and off-line environments, and overall operational efficiencies, there are treasure troves of data amassed, analyzed and applied at retail.
John Maxwell once suggested that great companies should, “Fail early, fail often, but always fail forward.” Or as Bill Gates eloquently expressed, the most important thing to do is to “fail fast.” I’ve witnessed this firsthand among leading retail organizations and future-focused brands. A willingness to test, fail and recover quickly is accelerating innovation. Rather than perfecting an approach, a product or a service in a laboratory before commercialization, leaders are moving more quickly, adjusting on the fly, and leading with creative, out-of-the-box solutions.
Geisel also inferred that failure would most definitely be found on the road to success. He put it this way, “And when things start to happen, don’t worry. Don’t stew. Just go right along.”
Retailers face an exhaustive list of obstacles to becoming more innovative. One concern that has become increasingly apparent is that consumers expect — and demand — technology adoption. Geisel reminds us that we must “assess and place a value on all your options, because some of them won’t be as good as others.”
A number of retailers have seen increased growth in recent quarters (e.g., TJX Cos., Costco, Barnes & Noble and Tractor Supply Co., to name a few), while others have admitted struggles to stay competitive in a crowded marketplace (e.g., Advance Auto Parts, JoAnn Fabrics, Big Lots and Kohl’s). Even Walmart, despite growth, recently warned that its profit trajectory will dip this year. As consumers navigate brick-and-mortar stores, online offerings and direct-to-consumer options, coupled with tariffs, international uncertainty, shifting consumer preferences and inflation-wary shoppers, retail obstacles mount.
Technology is admittedly not the cure-all. To be effective, implementation of innovative, technology-driven solutions requires a solid data footing, infrastructure capable of fast and nimble adaptability, and a clear road map to deliver customer satisfaction. At the end of the day, the No. 1 job of any retailer or brand is meeting customer expectations.
Oh, the Places You’ll Go! was the last Dr. Seuss book published during Geisel’s lifetime. It’s message, however, will resonate indefinitely. In the book, Geisel reminds us of the importance of seizing new opportunities, remaining open-minded and continually experimenting with new things.
During my most recent Executive Roundtable (the eclectic group represents a wide swath of multidisciplinary executives who meet to share perspectives and discuss issues surrounding leadership, resilience and creativity), the topic was “Moving Through Disruption with Purpose.” Not dissimilar to Geisel’s book, the group emphasized the importance of determination and stick-to-it-ivness as obstacles emerge.
Dave Wendland is vice president of strategic relations and a member of the HRG owner group.
