Store Operations Excellence: Why All That Glitters Is Not Gold
Online stores continue to gain market shares, making it crucial for brick and mortar stores to defend their piece of the cake. An exceptional customer experience and store operations excellence are two promising strategies to keep customers coming despite more convenient channels.
This article is about the operational excellence of brick and mortar stores in times of digitalisation, and why technological innovation will not suffice when it comes to providing an outstanding customer experience. (more…)
Hit Rate and Bestseller Assessment: How to Empower Your Retail Assortment Planning and Allocation
Improving the hit rate and bestseller management are essential elements of retail assortment planning and allocation. Learn how to fully understand your bestsellers and how they affect your hit rate to make optimal use of your resources.
Brand Sales and Distribution: New Best Practices that drive International Growth
International sales growth remains mostly volatile post pandemic. But as financial reports show, growth rates have decreased for many. Be it in the US or in Europe, especially domestic-bound retailers and brands stumble.
Global expansion in sales and distribution competence has become a lifesaving strategy feature, but allow me a question first:
The Price is Right, Right?
Pricing strategy remains a very timely topic. Learn how to make sound research-based decisions when lowering or increasing your prices.
Managing Brand Retail Operations in Times of Cross Channel Journeys
Do you measure the payback of TV advertising, sports sponsorship and the profitability of your warehouses by EBIT? No?
Why then do you measure retail stores with the same role (branding, community building, shipment handling) by its P&L alone?
How to Compare Store Performance of a Retail Portfolio in Pandemic Times
Retail executives often struggle to objectively evaluate the store performance of their portfolio due to changing market dynamics and consumer behaviours pre- and post-Covid. The good old Footfall Utilization Index (FUI) might be of help.
Store Insights Can Speak the Voice of Shoppers. Are You Listening?
There was an almost sinister feeling of relief in the boardroom. Until a firm voice cut through the silence with a final question: Well done fleet review team. But which 5 stores are the most productive, which are the 5 least productive and why? (more…)
Staff Cost Reduction Ahead
The ongoing coronavirus crisis adds to deep dips in store traffic. As retailers look at staff cost reduction to minimise the negative effect on their bottom line, this case study provides insights beyond a simple staff cost vs. sales ratio.
How to Measure Staff Motivation: The Big Unknown
Staff motivation is notoriously difficult to capture. This article shows how to combine Footfall Utilisation Index with Staffing Index to truly measure staff motivation.
How to Drive International Expansion Without Escalating Complexity
Customise or standardise? That’s perhaps the most important question a brand at the beginning of its international expansion has to answer.
Depending on who you ask, you will get very different answers. If you ask your brand and marketing management, they will vote for as much standardisation as possible. If you ask your sales force, the answer will be quite the opposite.
Brand Financial Budgeting – Ideas and Best Practices for Your Next Budget
Moving from retail to e-com to omnichannel, sound financial budgeting is ever more important for brands today. In this article we share some key learnings to help your teams plan better during the upcoming budget season.
What Locations Make Your Retail Format Successful?
Despite constant change and disruption in today’s market, retail location is still an a key success factor. Do you know what type of locations are best for your format?
Drive Dynamic Brand Growth or Maintain Profitability: EBIT vs. EBITDA KPI Slam
After a tumultuous year that almost saw the company drowned by its previous strategic investor, German vertical retailer Hallhuber found a financial investor in Robus Capital Management. Management of both firms agrees to invest in brand growth.
Optimal Retail Space: How Big Should Your Assortment Be?
Finding the right assortment size is a key question for retail performance projects. Learn about a simple method to determine assortment size for retailers with several stores in comparable locations.
Selling on Marketplaces: Are Your Processes Ready?
Marketplaces are the largest digital D2C distribution channel. Get ready for the KPIs in digital marketplace distribution that measure whether your brand is ready to meet today’s demanding end-consumer needs.
How to Improve Your Hit Rate and Make Good Use of Bestseller Potential
When brands need to reshape their portfolio and close stores, they face the challenge of improving Like-4-Like performance at the remaining points of sale. The two product strategies introduced here help improve the top and bottom line of your P&L.
Improving like-4-like performance often focuses on mechanics and triggers that can be influenced by sales staff and a retail organisation. Surprisingly, it often excludes an honest evaluation of the assortment’s performance. This article shows how improving hit rate and using best seller potential can push sell-through, create incremental sales potential, reduce mark-downs and improve the gross margin. (more…)
Retail Portfolio Management: Store Staff Performance
While excellent staff and service are what distinguishes brick and mortar from online retailers, staff performance is often overlooked in store evaluations. Two new KPIs help account for the human factor.
When evaluating a retail portfolio, very often mangers only look at the financial results of a store. But excellent service, competent and dedicated sales staff are a key differentiator of brick and mortar retailers. A fair and objective store staff performance evaluation is therefore increasingly important. This article introduces two new KPIs that help to fairly evaluate staff performance and to determine optimal staffing for each store in your portfolio.
Retail Portfolio Management: Renegotiating Your Rental Contracts
This is the second installment of a short series that dives into a few uncommon KPIs for successful retail portfolio management. Learn how traffic cost and footfall per hour can help you renegotiate rental contracts.
For many years, retail expansion was the main growth strategy in the brand retail world. More recently, however, brands increasingly face an under-performing retail portfolio. Realising that retail expansion doesn’t work without like-for-like growth of existing stores, brands are busy assessing their retail portfolios in order to focus on profitable stores and stores with potential for improvement.
How to Measure Omnichannel Management Success
Brand growth management already has many KPIs. What omnichannel measurement do you use to determine the payback of your investment?
Summertime is brand strategy planning time, when brand managers prepare for battle with their KPIs to prepare for new recruiting and securing a higher share of next year’s investments for their channel. But consumers have fundamentally challenged that profit centre logic. Perhaps it’s also time to rework your brand investment planning and the KPIs that measure brand growth success?