The Hudson Bay Company [HBC] is a really good case study for modernizing healthcare.

The retail customer is becoming the healthcare consumer. In an era where the retail customer is becoming more knowledgable and empowered with choice, HBC is struggling and stores will likely close.

After attempting one transaction with HBC, I told a healthcare colleague that the company is in for a rude awakening as Amazon expands operations throughout Canada. 

1/ Lack of Customer Focus

They’ve tried to be things that they are not [ie. competing in the luxury market] and failed. They clearly don’t have a strong grasp of their customer and what their customer expects of them.

2/ Product vs Experience

HBC is still focused on what to sell rather than curating the experience for their customer. Companies thriving in the modern era of retail are doing so by focusing on the entire customer experience rather than simply curating product. 

3/ Ease of doing business

Retail consumers expect the payment system to work for all their transactions whether online or in person. The more friction there is with the purchase process the more likely the customer will go elsewhere.

Healthcare service companies are also in for a rude awakening if they don’t get these three things right.