The era of finance CEOs running retailers is coming to an end as companies shift their focus towards improving in-store experiences. Following the Covid-19 pandemic, brick-and-mortar chains drastically downsized operations, leading to understaffing and reduced quality products.
To combat these issues, some retailers are now adopting a new strategy. Instead of prioritizing efficiency over customer satisfaction, they’re placing CEOs with retail expertise at the helm. This change is a response to the negative in-store experiences that have dominated the retail landscape for 15 years.
These turnarounds are notable examples of how retailers are adapting to changing consumer expectations. The key difference between Abercrombie and Barnes & Noble lies in their emphasis on customer service, which has led to improved sales and increased customer satisfaction.
The transformation is also attributed to the “revenge of the bean counters,” where career bankers and financiers have taken control of companies across industries. However, this shift away from profit-driven decisions towards a more balanced approach seems to be gaining traction in the retail sector.
Source: https://www.bloomberg.com/news/articles/2025-01-14/why-abercrombie-and-barnes-noble-stores-are-doing-so-well