ISBA’s Post

ICSC joined 35 other organizations in submitting a letter to House and Senate leaders on April 10 expressing strong support for preserving the like-kind exchange rules under Internal Revenue Code Section 1031. You can read the full letter here: https://bit.ly/3JkykBS #ICSC #Marketplaces #Retail #RealEstate

My sense is that Andrew Willis’ column not only misses the mark on points of fact, as clarified by Matthew Chiasson below, but also on a key point of substance. I can think of no time over the past 30 years when the importance of robust competition and issues related to the abuse of dominance have been more in the headlines than they are today. Think about it. There was world-wide outrage over the Facebook Cambridge Analytica scandal. In the US, the Federal Trade Commission extracted a US$5 BILLION dollar fine from Facebook as a result of their misleading privacy claims. In Canada, the maximum fine was $10 MILLION at the time. Even this shocking imbalance was not enough to make competition reforms a political priority — 50:1 even when accounting for population differences between our two countries. I remain convinced that we are seeing competition become a public policy priority only BECAUSE the Competition Bureau Canada fought hard to defend the interests of Canadians, even when our competition laws and policies were not up to the task. The legislative changes that we are seeing today only start to address places where Canada was a total outlier relative to the rest of the world. We are finally coming into balance, but still have a long way to go. Canada is second worst in the OECD when it comes to regulatory burden. This is a huge drag on our economy. Much of this burden exists to protect consumers from our oligopolies. But, as I often say, you cannot regulate a company into becoming customer centric… only competition can do that. Our oligopolies have become so comfortable that they can prioritize the interests of their shareholders well before they need to give any thought to their customers interests, allowing margins to grow without delivering any more value. The regulatory moats securely protect them from innovative new entrants, killing productivity growth, because the incumbents don’t need to innovate and the innovators head elsewhere in order to apply their innovations in more accessible markets than exist at home. I’m grateful too the team at the Competition Bureau for fulfilling the purpose of the Competition Act, even when the contents of the Act were no longer fit-for-purpose. #CompetitionMatters, and Canadians are starting to “get” just how much it does.

This week, The FT explained delves into the nuanced world of dynamic pricing. We unpack the contentious debate sparked by Wendy’s pricing proposal, explore its widespread application across industries, and consider the ethical implications it brings to the forefront. Link: https://lnkd.in/exjQjErk

Retail pricing is a complex balancing act of trust, profitability, compliance, and regulations. Governments worldwide are getting closer to retailers to ensure fair pricing is in place while also implementing tighter regulations. In the UK, for example, regulations are looking to become increasingly stringent. Australia has been implementing this reality since 2009. Accurately pricing products across in-store and online networks is crucial for maintaining and gaining trust while achieving stakeholder goals and outcomes. What CEO's and CMO's care about in this space is a) staying compliant, and importantly b) keeping their shoppers informed. Here at Last Yard, we understand the importance of informed customers and how it can lead to loyalty and trust. We help retailers meet tighter regulations in a rapidly transforming digital world so they can stay focused on their shoppers. Unit pricing was just the start of the journey to a more informed shopping experience. In the meantime, nutritional information, tasting notes, country of origin, allergen information, fair trade and more are all part of the ongoing compliance and regulation developments. We believe that anytime you can get that repeat visit and one more item added to the basket, it's a win. Trust and loyalty are built on informed customers, and we are here to help retailers achieve that goal. #retailpricing #compliance #regulations #informedcustomers #loyalty #trust #digitaltransformation #retailinnovation #retailfuture

Get ready to dive into the world of retail, consumer, and leisure trends at @PwC UK's annual event on January 23! Our experts are eager to share their insights on everything from consumer spending trends to the impact of the cost of living crisis, plus a peek into the political landscape and outlook for 2024. Don't miss out—secure your spot now! 🛍️📊 #RetailBriefing #ConsumerBehaviour #InsightsGalore

"Flexibility is definitely a key component whether you're doing Store 1 or Store 100," said MG2 Principal Melissa Gonzalez in a Chain Store Age interview with Debra Hazel. Read the cover story, ""New Store Strategies," on why flexibility and adaptability are key to engaging today's demanding consumers. https://lnkd.in/gCqmAwvh ______________________________________________________________________________ #Chainstoreage #businessofretail #retail #mg2design

Retail has entered 2024 with serious concerns about the legislative progress on TRADE - - results from the 2023 Congressional session have far exceeded a level that can be characterized as greater than dismal. #retailing #economy #shoppingandtheretailindustry

This article by Kevin Carmichael of The Logic has some defensible points hidden within it, but he takes exactly the wrong message from recent testimony of the head of Costco Canada to a Federal inquiry on food prices. The Costco guy says he wishes Canadian suppliers were "a bit bigger" and then it would be easier to source locally and then lower food prices by reducing transport costs. Carmichael concludes that Canadian suppliers aren't high enough quality or large enough to supple Costco, so that's the problem. He's got it entirely backward. Costco is very big in Canada, about 10 percent of grocery market share. Companies of that size find it easier to buy from one supplier who can meet all their needs - it's just size, and has nothing to do with quality. As anyone who actually buys grocery knows, quality is often a lot higher from smaller suppliers. The problem is our grocery industry is controlled by just 5 firms. They have so much pricing power they strangle smaller Canadian firms, stifling innovation, reducing our ability to build IP, and reducing productivity. It's not a financing problem or an ambition problem or whatever other theoretical nonsense he puts in the article. It's a monopoly problem. The errors he makes here are endemic to traditional economists. He couches his article with some facts, but his arguments are largely vibes - things like Canadians lacking ambition and that small business leads to instability in times of crises. There's no evidence of either. It's the same fuzzy thinking based on theory that brought us trickle-down economics. Instead of taking Costco at face value, he should be asking whether the reams of research on the damage of monopoly power to innovation, productivity and resilience. Canadian media is so often deferential to it's large company CEOs. This is just one more disappointing example. #competition #cdnpoli https://lnkd.in/gX-CEH6R

Pricing can be one of the most challenging of the marketing 4 P's. Communicating pricing successfully perhaps even more so. This thought provoking article from Mark Ritson addresses both challenges as well as providing some cautionary insight.

It's the eleventh hour for 2024 DMA Awards judging applications — get your name in the hat today. 🎩⏰ The DMA Awards are renowned for testing the sharpest strategy, the finest creativity, and delivering the most eyebrow-raising results. However, the key 🔑 to identifying award-winning work lies in assembling a handpicked group of exceptional judges. That's where you come in. Are you prepared to lead the charge in innovation and creativity? We're not merely seeking experts; we're seeking visionaries, trailblazers, and catalysts for change. If you possess a keen eye for detail, a thirst for creativity, and a drive to push boundaries, we want to hear from you. ⚠️ Don't miss out — applications close shortly. So, what have you got to lose? Apply to become a part of the DMA's esteemed Judging Panel here: https://lnkd.in/dR_NyFGw. #DMA #Judges #Awards #Marketing