What’s happening to The Sharper Image? It used to be the store we could count on for wild innovations that you were the first on the block to own (ie. toys for “bleeders” who are prepared to pay more than anyone else just to be first).
As my friend Mitch just wrote in his blog, (aka “bla bla”), TSI stores are not what they used to be. No wonder that TSI has had a rundown lately with its stock value far below its previous highs. I think much has to do with the fact that its strategy seemed almost “single product” oriented with the Ionic Breeze series. When the product claims were challenged by editorial comments, TSI flew into a rage, and yet everyone’s ears perked up. Meantime, others are getting into the “cool stuff” retail game like Apple, Sony, etc. So you have manufacturers opening up retail fronts for “leading edge” apparatus, yet with a clear focus, while TSI is a collection of things that are un-related. What is the message the clients are giving? I think the message is that the retail landscape has evolved and people want lifestyle solutions to which they associate your brand.
Success comes from focus on an image. As others get into your garden, its the old adage of “improve or die”. Does TSI have anything cooler than the iPod nano? Doubt it.
Its all about your brand. If your sizzle is not backed up by good steak, then you will be found out. If the steak isn’t that good today, doesn’t mean that you can’t improve it to be as good as the sizzle. Otherwise, the truth will come out in the end. Sell quality, be quality, be focused, be a winner.
What value can this blog have for an RV, Marine, Camping, AutoAccessory, Hardware retailer? Well do you have a section of the “coolest” stuff at Xmas and Mother’s/Father’s Day in your store? It would fit all of the criteria I have listed above (cool, focused, thematic, lifestyle). If you’re an “e-tailer” why not create a “cool stuff” section relating to your customer base? You can all be “sharper images” if you wish..and it doesn’t have to cost you an arm and a leg.
Sass
PS. Mitch, the Leadership 101 book has many lessons for all. One I picked up…leaders (whether companies or people) should listen more than speak. If TSI is listening to those who put a value on its stock, it will stop reminiscing about times of old and get with the program to develop a new strategy.