4 Quotes that Show Selfridge Predicted the Future of Retail

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It’s often said that Harry Selfridge was a man before his time, but most people take this to mean that he was a thought leader. This is true. His unconventional approach changed retail altogether. However, his approach and his words suggest something much deeper. Harry Selfridge was a visionary. He didn’t just bring us the future we know, he predicted it.

Quick timeline refresher: Selfridge passed away in 1947; 44 years before the World Wide Web went public. He was also gone decades before business intelligence became part of the fabric of organisational strategy and way before data mining or AI existed. He did, however, catch the emergence of predictive analytics though at the time it was used only by governments as a means to decode messages or identify risk to specific sites.

Yet, despite the times he lived in, and the fact that he had no way to know just how far technology would take us, he predicted what’s happening here and now. Here’s the proof.  

 
1.“PEOPLE WILL SIT UP AND TAKE NOTICE OF YOU IF YOU WILL SIT UP AND TAKE NOTICE OF WHAT MAKES THEM SIT UP AND TAKE NOTICE”.

 

Let’s go back in time and look at this through Selfridge’s lens again. Conservatives were in control and the Labour Party was emerging. The Women's Social and Political Union (WSPU) had just formed to promote women’s suffrage. Selfridge had just come to London and shocked by what he found in the shops. Items were tucked away over worries of theft and shoppers had to ask often unhelpful or brusque attendants for assistance if they wanted to look at or purchase anything. He knew he could do better, having had experience developing retail shops across the pond, and so in 1909, he launched Selfridge then covered all the bases with his strategy. He treated his employees well, paying more than competitors. He trained them well too, insisting that they be helpful and not pushy. He took great care of his customers, turning shopping from a perfunctory trip into an enjoyable all-day event. And, he supported women, created spaces within his shop for them to congregate without the usual stigma of the day that came from going out unattended. It worked.

That proves what he had to say was relevant to his time, but it’s also true now. The difference is we don’t have to rely on our guts or intuition to tell us what makes people take notice. We have data to show us where our audiences are and information necessary to identify what they’re interested in.


2.“HONESTY ALWAYS PAYS. HONESTY ALONE WILL NEVER BUILD A BUSINESS… BUT THE POLICY OF HONESTY, OF SCRUPULOUS INTEGRITY, WILL—OTHER THINGS BEING REASONABLY EQUAL—ALWAYS WIN IN THE RACE FOR SUCCESS.”
 

Honesty and integrity have always been important, but in the days of yore, a slip up meant your blemish would only travel via word of mouth or would be quickly forgotten when a new scandal hit the newsstands. Today, if you’re running a business without honesty or integrity, word of your transgressions will be printed online before the transaction is even complete. Those transgressions will follow you and haunt you, showing up every single time someone looks for information about your shop online. The only way to correct a blemish is to bite the bullet, apologies, and do the right thing. Every. Single. Time. Companies that don’t operate ethically or don’t correct mishaps not only lose business but go out of business for good.

 
3.“TREAT [THE CUSTOMER] AS GUESTS WHEN THEY COME AND WHEN THEY GO, WHETHER OR NOT THEY BUY. GIVE THEM ALL THAT CAN BE GIVEN FAIRLY, ON THE PRINCIPLE THAT ‘TO HIM THAT GIVETH SHALL BE GIVEN’. REMEMBER ALWAYS THAT THE RECOLLECTION OF QUALITY REMAINS LONG AFTER THE PRICE IS FORGOTTEN. THEN YOUR BUSINESS WILL PROSPER BY A NATURAL PROCESS”.
 SELFRIDGE WAS GENUINELY AN ETHICAL MAN WHO TOOK GOOD CARE OF HIS STAFF AND COINED THE PHRASE ‘THE CUSTOMER IS ALWAYS RIGHT’. IT WASN’T UNTIL YEARS AFTER HIS DEATH THAT PSYCHOLOGISTS BECAME INTERESTED IN THE PHENOMENON OF GIVING AND HOW IT IMPACTS SALES. WE NOW KNOW:

 

·       People buy more when they’re given free stuff.

·       People prefer getting more of something free than getting a discount, even if the discount is the better deal.

·       People feel obligated to respond in kind when someone does a favour for them.

·       People talk about a product 20% more when they’re given it free.

 

Let that sink in for a moment. We’re in an age where your reputation is everything, people share their experiences with everyone online at breakneck speeds, and you have the ability to get 20% more FREE positive press (see what we did there?). 

 

4.“EXCITE THE MIND, AND THE HAND WILL REACH FOR THE POCKET”.

 

Selfridge knew how to create value beyond the products he offered; in the community gathering spaces he created for women, gardens, dining, classes, and other activities. And, as evidenced by his prior statement, he saw value in these experiences “whether or not they buy”. Selfridge knew the sale would eventually come because he used the space in his store to engage visitors. Engaging visitors with an experience to create a relationship with a long-term customer. Sound familiar? That’s exactly how someone would describe experiential marketing today.

 

Now that you see it, what will you do with it?

The problem is, so many retailers forget Selfridge’s messages. They’re focused on the metric of how much a space costs per square metre. That’s not the metric that matters. It’s the recollection—the emotional connection—that matters. While it may seem intangible, we can measure this with hard numbers now. Footfall, heatmaps, sentiment, followers, likes, and so much more, can be leveraged to gain insights on what your space is really doing for you. Selfridge knew this more than 100 years ago. If you’re not treating your space like it’s your greatest marketing campaign, it’s time to get up to speed. Start you search here - https://popertee.ai/discover 

  

 

 

 

 

Created on date: 29/01/2020