Mark Blundell, the new chief retail officer at Harrods, has spent over seven years at the iconic retail destination. He recently discussed leadership, the future of physical retail, and the importance of product, service, and experience in great retailing.
Blundell has seen significant changes in the business during his time at Harrods. Some customers have noted that certain parts of the store have become unaffordable, which Blundell attributes to the store’s focus on top brands that its best clients want access to.
He also noted that the store’s highest spending clients tend to survive economic challenges, such as wars and regional conflicts, relatively well. As a result, Harrods has become more focused on this client group.
Blundell became the first leader in John Lewis Partnership‘s history to manage stores across both Waitrose and John Lewis. He said that this experience taught him the importance of focusing on the client, quality, and customer experience, regardless of the specific retail environment.
Blundell also noted that he was able to leverage his leadership skills seamlessly across both Waitrose and John Lewis, despite the differences between food and department store retailing. He ran the John Lewis Liverpool store with a team of 900 people.
This experience taught him the importance of being on the shop floor and understanding how clients operate and behave in a particular geography.
Harrods is one of the most iconic retail destinations in the world, and Blundell said that the store must balance maintaining its heritage while keeping the experience fresh. He noted that the store never rests on its heritage and must continually design and build authenticity to remain successful.
Blundell emphasized the importance of investing in stores, citing the example of other department stores that have fallen behind due to lack of investment. Harrods makes sure to constantly drive forward and innovate, rather than becoming complacent and turning into a “museum”.
For instance, Blundell recalled a recent visit to Harrods where he asked a colleague why they weren’t selling more biscuit tins. The colleague explained that the packaging didn’t include information about the number of biscuits inside, which was a key factor in customers’ purchasing decisions.
This insight, gained from speaking with a sales associate, was critical to understanding customer needs and improving sales. It highlights the importance of optimizing retail experiences for customers.
Blundell’s experience has taught him that the key to success in retail lies in understanding the fundamentals of the business, including product, service, and experience.
Harrods continues to evolve and innovate, creating new opportunities for growth and development in the sector, much like Lactalis’ recent acquisition of a UK dairy business.
