In this week’s Retail Recap, I caught up with Rich Hollander to get his take on the state of retail under shelter-in-place. If you don’t already know, Rich has an impressive resume as a retail operator:
- Vice President at Radio Shack / Incredible Universe
- President at Cash America
- President at Rent-a-tire
In addition, he spent time as a Vice President at MasterCard and Partner at several other retail-adjacent firms. Basically, he knows a thing or two about retail.
We discussed the federal government’s Paycheck Protection Program, how different retail categories should be strategizing, and more. His most important advice – 4 things that all retailers should be doing:
- Manage your cash, because cash is king
- Look for opportunities
- Be flexible
- Take care of your employees and customers
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