‘Perhaps the greatest change to the consumer economy in centuries has taken place’
NEW YORK (January 25, 2022) - AlixPartners, the global consulting firm, announced that it is celebrating the launch today of a McGraw Hill-published book, THE METAIL ECONOMY: 6 Strategies for Transforming Your Business to Thrive in the Me-Centric Consumer Revolution, written by Joel Bines, global co-leader of the retail practice at the firm.
The book, which has received advance praise from the likes of Hubert Joly, former CEO of Best Buy, Karen Katz, former CEO of Neiman Marcus and Sergio Zyman, former CMO of Coca-Cola, draws upon Bines’ 30-plus years of experience in transforming companies—along with case studies from retailers like Target, Macy’s and Amazon—to explain how companies today must rearrange priorities and develop a whole new kind of relationship with their customers.
According to the book, perhaps the greatest change to the consumer economy in centuries has taken place in recent years: a power inversion between businesses and consumers. Empowered by technology (the ubiquity of choices today, particularly via ecommerce) and by each other (mostly through social media), today’s “Me”-centric consumers have turned the tables on brands and businesses—from deciding for themselves what’s trendy to banding together to completely alter a product’s or company’s image.
“Companies that don’t adapt will struggle unless they understand this power-shift and how their organization is viewed and valued by their customers,” said Bines. “If you think you’re already understanding this with ‘customer-centricity’ or ‘personalization’ programs, think again. Both of those dated practices are still from the company’s perspective, instead of being truly customer-first. Companies need to focus their investment, resources and energies in the right areas to maximize their relationship with today’s Me-centric consumer.”
The book simplifies the process with six actionable strategies, each beginning with the letter “C”:
“The post-pandemic business landscape has made it more urgent than ever for business leaders to radically reorganize around the customer,” said Bines. “It truly isn’t about the company anymore, or about the merchant princes and princesses, or about the C-suite; it’s all about the Me’s.”
AlixPartners is a results-driven global consulting firm that specializes in helping businesses successfully address their most complex and critical challenges. Our clients include companies, corporate boards, law firms, investment banks, private equity firms, and others. Founded in 1981, AlixPartners is headquartered in New York and has offices in more than 20 cities around the world. For more information, visit www.alixpartners.com.