Retail Insights from Powerful Women

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Retail Insights from Powerful Women

We as an all-girls team at Strictlymarketing were naturally delighted when Forbes released its annual list of the world’s most powerful women, recently.

The list includes women from all backgrounds including politics, acting, music and business, and includes names ranging from America’s first lady Michelle Obama to pop’s golden girl Taylor Swift to Sheryl Sandburg, the first woman to serve on facebooks board.

Making the list is no walk in the park. To be considered, women must have money – lots of it – media momentum, spheres of influence and a strong impact on society. While its fun to gawk (and be a tad jealous) of their bottomless bank accounts and outstanding social media profiles (see how I worked digital marketing in there?), there are certainly clear trends and characteristics which all of these women share which lends to their success.

According to Inside Retail, there are some interesting retail lessons in success that we can glean from powerhouses Michelle Obama, Beyonce Knowles, Taylor Swift and their companions on Forbes’ list. They narrowed success down to five key characteristics which these women share and can be applied to the retail environment. You can read their full blog here.

For the time poor, however, we have summarized these five key ideas here, which stand out of the typical power criteria of money and influence. Here they are:

  • Work Hard – Sheryl Sandberg wouldn’t have become the first woman to serve on Facebook’s board without her unparalleled work ethic. Retail isn’t an easy journey, but the rewards can be powerful for those who put in the blood, sweat and tears.
  • Cultivate Influence – Become involved in local initiatives, participating in local council events, liaise with universities, businesses and community groups for opportunities, and collaborating with industry influencers. Or just give Strictlymarketing a call and we will do it for you. We’re good, we promise.
  • Be True – Taylor Swift has become one of the worlds most powerful, and certainly most influential people by conserving her conservative and demure identity. Be consistent and true to your brand. Retailers foster a truly unique brand and positioning, by avoiding the pressure to conform to the latest trends of their competitors. This avoids brand confusion, develops a customer base of raving fans, and allows a retailer to stand out from the crowd.
  • Pioneer – Oprah Winfrey was the first black female news anchor, then first black female billionaire. The women on this list consistently achieve the seemingly impossible, broken down barriers and flourished at challenges. Retailers have the know-how, the knowledge and the nerve to pioneer their industry can create disruptive levels of power.
  • Give Back – Melinda Gates and husband Bill Gates have established the largest private foundation in the world, enhancing healthcare and reducing extreme poverty. Giving back is actually one of the greatest gifts one can give themselves and their brand. Retailers who actively seek out ways to make a positive contribution to their customers, their community, their planet and people, will be recognized, respected and rewarded.

There it is, the tips of success in the retail industry brought to you by a long list of awesome ladies. How your brand is viewed and represented is essential to success in any industry. To see how Strictlymarketing can help boost your brand, contact us here.


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