The Five Laws of Retail – An Overview
In this time of tremendous challenge and realignment within the retail industry, retail executives and others are searching for answers and for direction. In The Five Laws of Retail: A Proven, No-Nonsense Guide for How Retail Really Works -and Why, senior retail executive George Troy defines the underlying principals that have for millennia governed everything we retail—not just clothing and books, but also politics, religion, art, and other “products” and services. Though explaining how retailing really works and its rules for long-term success, The Five Laws of Retail provides a deep understanding of the retail business that is urgently needed … not just today, but for the future as well. These rules are the “secrets” to success in today’s fast-changing world, and To Sell Is Human meets The 7 Habits of Highly Effective People for anyone who wants to be at the top of the selling game.
Over the course of human history, Troy points out, The Five Laws of Retail have always been the foundation behind the scenes: from the earliest archaeological evidence revealed in early marketplaces; to the Roman Forum of the second century A.D.; to the de’ Medici dynasty lasting nearly 300 years (1460-1737); to the British East India Company and the most infamous result of its violation of The Five Laws, the Boston Tea Party; to retailing today. Throughout, retailers who sensed and followed The Five Laws succeeded. Those who did not, failed, whether with a whimper or a bang.
For the first time ever, with the appearance of the book The Five Laws of Retail these time-authenticated but never-before-articulated principles of lasting retail success are now available to any retailer, in any kind of retailing enterprise: bricks-and-mortar, online, omnichannel—even “surprised retailers,” people who never thought of themselves that way until encountering the concept through this book. This means that anyone can achieve lasting success by understanding the importance and relevance of these Laws and applying them to their retail operations. Such substantive assistance can only be hailed as a very good thing, both for the individual retailers and for the global community that supports and is supported by them.
I am looking forward to learning more about retail in history and how this book applies to everyone in business.
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