Attracting Consumer in New Retail Channels and Social Media
In 2013, representatives of the retail world have met in Istanbul Grand Hyatt Hotel for the KUMPEM Forum Retail Conference with the collaboration of Koc University and Migros.
First speaker of the conference was the CEO of Cinnabon, Kat Cole. Creating a huge impact with her last book ‘Small Changes- Big Impacts’ published in April, Cole stated, “Resources are scarce, but change and innovation is a must. Start innovation with small jobs with big impacts that you can easily change”. After the lunch break, the panel under the Money Club sponsorship; with the subjects of new sales in retail and communication channels and integration of these channels, has started with the participation of Migros Group Information Technologies and Business Development Director Mustafa Bartın, CEO of Anametrix Pelin Thorogood and Turkcell Alternative Sales Channels Director Yalın Özcan .Panel was moderated by Georgia State University Associate Doç Dr.Sevgin Eroğlu, whom also has studies about retail market in Turkey.
In the conference organized in Istanbul, Grand Hyatt Hotel,representatives of retail industry had the opportunity to listen to the recent trends in the industry from the internationally speaking participants.
At the conference various dimensions of multi-channel retailing, retailing, service and promotion management were discussed throughout the day with various presentations and examples.
Director of the KUMPEM Forum Dr. Meltem Kayhan gave the opening speech of the Retail Conference organized for the third time this year with the collaboration of Koc University and Migros. Kayhan stated “Retailer’s tempo is always set to catch the next day, month, and season” emphasizing that retailers’ clocks should always be set ahead of time.
Cole shared her own experience in 15 years of franchising, communications, service, sales, operations and multi-channel brand management through examples from her own life story, with her speech titled as ‘Difference: Unexpected Leadership and Innovation Lectures for Nowadays Retail World’.She shared how Cinnabon has transformed with new bold decisions. Shared strategies involving collaboration with competitors that diversified channels, placing their products in competitor restaurants besides their own franchise stores. Stating that bravery opens door to lots of opportunities, Cole stated, ‘Resources are scarce for everyone and every business, but change and innovation is a must. Start innovation with small jobs with big impacts that you can easily change. Likewise, what we have done in Cinnabon, when necessary you should be collaborating with your competitors.”
In her presentation in KUMPEM Forum’s Retail Conference, Cole talked about what to do to manage growth in retail. Emphasizing the importance of being ready to learn constantly, Cole stated “The way to the growth in retail is to open new stores. You can have great experiences and learn from the collaborations in these openings in these unexpected regions. The values captured here become the most important compass while growing in retail.”. Stating that the brand’s corporate values are carried to every new point in retail, Cole says that new competencies in line with the sensitivity and requirements of the market are developed there. “At Cinnabon, we are well aware of the importance of good local understanding for global success.. We are in 56 countries, our core product is the same in every country we go to, but we support up to 20 percent change in menus. Likewise, we provide freedom in the decor provided that the Cinnabon ribbon remains fixed. There is no rule that a business that succeeds in one place will succeed in another. For this reason, we always go to a diversity of strategies in terms of space and country with a flexible point of view”.
The second speaker of the KUMPEM Forum’s Retail Conference was the originator and the jury member of the Max Marketing Award, Assoc. Dr. Ken Bernhardt from Georgia State University. Bernhardt, opened the discussion on profitability and differentiation and excellence for a sustainable growth in his presentation. Bernhardt emphasized that the organizations in the retail or service sector should make the concepts of service quality and customer focus a strategic advantage, and if they do not, these concepts will be ineffective in creating profitability, market share and brand value.