Sometimes even the best-performing retailers have bad ideas. And for the retailers that can't afford to make a mistake, missteps can be devastating.
On the surface some ideas appear to be good — expanding into growing categories, rolling out smaller stores with less expensive rent, etc. — but success boils down to execution and whether venturing beyond the core model is worth the risk.
According to Nick Egelanian, president of retail consultants firm SiteWorks, retailers that "get out of their lane have a very high failure rate when they try to get into another lane.". . . more