Is cash really king? Of course it is! In this podcast episode Michael Appel, Managing Director at Getzler Henrich and Associates, discusses how to turnaround a failing business. 

With over 40 years of experience leading and advising retail and consumer companies, working with the likes of Baccarat, Inc., Laura Ashley N.A., Caswell Massey, Ciro, Inc., MacKenzie-Childs, and Wilkes Bashford, Michael knows a thing or two about the challenges facing the retail industry.

He shares invaluable insights on the challenges and successes of retail businesses, emphasizing the critical importance of understanding and engaging with customers. 

Michael discussed his opinion on the future of retail, how to turn around a failing company and protect your mindset during a stressful period. With a focus on innovation, product offerings, and financial restructuring, this episode offers a wealth of knowledge for retailers navigating tough times.

Tune in to future proof your business for longevity and scalability. Listen now! 

Topics Covered

0:25 - Michael’s diverse and well respected career in retail 

05:52 - How he has saved companies from liquidation

09:56 - Analysing cash flow, managing assets, understanding customers

11:06 - Retail requires understanding diverse customer segments

14:55 - Retailers adapting technology to stay competitive and profitable

18:01 - Analysing merchandise sales with predictive analytics

21:28 - How he managed an eCom business that struggled with sales 

26:03 - Difficult to find the right people

28:41 - CEO from Target tried private labels at Bed Bath and Beyond

33:47 - Consumers engage in-store. Capturing feedback with focus groups and phone calls 

34:28 - Research, analysis, and customer feedback are crucial

38:19 - Retailers need to focus on omnichannel eCommerce

40:52 - Lululemon focuses on customer experience and retention

45:30 - Excite consumers with newness and innovation

47:48 - Book recommendation