The question “how much product should I put in my stores?” has always generated animated and healthy debate amongst retail businesses.
That question, and the discussions around it, just got a whole lot more complicated as the opportunities and threats of e-commerce and true omni-channel assortment allocation has made store capacities one of the most important decisions for retailers to get right.
The reduction of physical store capacities for an omni-channel retailer, supported by flexible and reliable inter-channel replenishment, allows the development of inspirational, … Continue reading
As an increasing number of airports opt to turn down the din, Tim Radley contributes to an article in Frontier Magazine which takes a look at whether low-noise environments can pave the way for happier shopping
While the warm and welcoming voice over the tannoy and accompanying ‘bing bong’ are often associated with happy holiday memories, loud terminals combined with the noise from the latest travel gadgets are leading to a sensory overload among passengers. In turn, this can heighten stress levels … Continue reading
Knowledge of traffic and conversion is essential to measure and maximise sales opportunities across stores, however the knowledge of traffic and conversion by category display within the store reveals the mysteries of the shopping experience and promises the riches of increased sales productivity for every gondola, wall and precious retail square metre.
What retail success boils down to is selling as much as possible to as many people as possible. In the context of any retail business this is very much in line … Continue reading
Time never stands still for Selfridges. The dawn of every day is reason enough to energise the store with new messages, products and brands to perpetuate its reputation as one of the world’s most exciting retail experiences.
When seasonality subsides for a second Selfridges fills the void with self-generated events bringing every aspect of its considerable assortment to the attention of its captive customers – amidst its Spring activities for Easter and Mother’s Day there was still ample time for a powerful collaboration … Continue reading
It used to be one of the great discussion points regarding customer demographics in the early days of international expansion.
“Are all customers the same?”
Clearly experience and time has shown us that they are not the same – not within a single country and absolutely not internationally. Any retailer expanding to new lands must be aware and take actions to focus and modify the proposition – starting with the assortment on offer.
Correct benchmarking and analysis of different international market trends in product taste, shopping behaviour … Continue reading
Visual merchandising has always been difficult to define and as stores develop into multi-media and sensory experiences then the realm of visual merchandising will evolve further.
It will embrace the sensual worlds of music, imagery, video, digital technology, smell, product interaction and lifestyle & promotional events. All this, which is traditionally the responsibility of marketing, store design, merchandising and other retail functions must be integrated with one strategy and one creative concept.
In an ideal world the vision and the delivery of the dynamic … Continue reading
VM Trends: “An End to ‘Easy’ Visual Merchandising!”
Tim Radley, CEO of VM-Unleashed! will be in discussion at the Retail Design Expo 2017
Please come, listen and join in on Monday 8th May, 12pm.
May 8-9, 2017, London Olympia.
Tim Radley is the founder of retail specialist consultancy VM-Unleashed!
His expertise comes from 25 years of working with, and helping, a wide variety of UK and international businesses with their retail performance, store experience and all facets of what has become visual merchandising.
Visual merchandising, in its … Continue reading
Any good retailer knows from its product sales what its customers’ buy and equally what seems to be impossible to sell to them, but why? Do you know why?
Is it simply the wrong product, or perhaps something more subtle in the colour, the size, the style or the taste, or simply something as obvious as the price point? Proper analysis of sales figures combined with benchmarking of competitor assortments holds the key to unlocking further the potential spending of our customers.
Through identifying the hierarchy of … Continue reading
Born and bred online, young fashion retailer Missguided is now cutting its terrestrial teeth as it continues to roll out its physical flagship stores to major shopping centres in the UK.
Full of attitude, high on fashion and riding a dynamic rollercoaster the task in hand was always to translate this successful e-commerce formula into real stores considering their limitations of space, product availabilities and operational restrictions.
In reality the stores do exude all the brand energy and then some, with a bright … Continue reading
Who’s the real competitor? Who’s the real enemy?
The massive changes that have swept across this land and others, the decimation of high streets, town centres and the taking away of the retail heart of communities, though tragic and physically real are the result of a shift in mind-set. The mind-set and shopping patterns of the customer.
And whilst there are a range of practical measures that must be taken physically on the ground and through legislation to create a viable landscape to rebuild … Continue reading
An effective and efficient queuing strategy has many benefits from minimising abandonment, increasing loss prevention, stimulating incremental impulse sales, loyalty building and customer service engagement.
Failure to control and maximise the queuing opportunities means a retailer will never find that “sweet spot” of happy customers willing to queue and engage whilst delivering additional impulse sales
- what is the “sweat spot” for queue waiting time linked to impulse sales?
- how do I minimise abandonment yet expose impulse product?
- what should the relationship be between service time … Continue reading
Managing a single retail chain is complicated enough however when it comes to retail locations, town centres, shopping centres, retail and leisure destinations then simply the number of stakeholders and agendas involved can create an insurmountable complexity making the whole decision process impossible, never mind the delivery itself.
So if you’re in a quandary as to how to move forwards with a coordinated and workable retail strategy for your location then how to begin?
One thing is for sure, effective change cannot be imposed … Continue reading
The performance of any department or category is the result of the assortment itself and the delivery in store – its location, visibility, display, service, visual communication and many other touch-points.
The key to maximise the performance of any category is to understand the product, define its benefits, and then communicate these visually to the customer in a way that is compelling and attractive.
Failure to understand how each part of the store delivery either helps or hinders the sales performance of each department and … Continue reading
Space planning & visual merchandising are the two cornerstones on which an attractive and commercial store are built
At the heart of this is the eternal question – “How much product should I put in my store?”
Get space planning wrong, allocate product incorrectly or deliver visual merchandising operations inefficiently and a store will never attain its potential sales productivity.
Marrying the “beauty and the beast” of the assortment comes down to an absolute certainty and consistency within a business on a few key questions:
… Continue reading
Being an independent retailer does not mean you have to be inefficient, unattractive,
In fact in the fight for retail traffic between competing town centres the role of independents is more critical than ever in creating distinct flavour and personality. When independent retailers escape the cloak of consumer invisibility and exchange it for the colourful and attractive garb of local destination retailers then shopping venues truly begin to attract attention, command respect and pull in the customer pounds that they so … Continue reading
Sometimes having your cake and eating it seems to be one of the few things that the retail customer can actually succeed in doing as they stroll the lengths and breadths of Britain’s struggling high streets. There are truly some inspiring and inventive concepts in the world of coffee shops and eateries or at the very least convenience and comfort.
However culinary creativity is not enough to satisfy the customer appetite for quality, professional retail stores yet avoiding the predictable parades of “the same old … Continue reading
It is not many yellow and blue moons ago that the food proposition at IKEA revolved around the manifestation of meatballs, supported stoically by sausages in rolls and competitively priced ice-cream cones with a choice of 3 syrups.
Whilst these destination delights are fully preserved for both loyal patrons and new generations to discover, the market leading home retailer is evolving the variety of its culinary concepts to satisfy the voracious appetites of its customers’ demands whilst growing the already healthy size of … Continue reading