international store assortment grading benchmarking

correct benchmarking and analysis of different international market trends in product taste, shopping behaviour and store delivery practices can successfully blend a strong brand with essential local initiatives.

failure to recognise differences in shopping behaviour across international markets will leave any brand’s stores inappropriate, inefficient and under-performing .

 

assortment-analytics

What can we do for you?

  • how should I edit my assortment to appeal to national and local taste?
  • should I be displaying my stores with different densities and capacities?
  • what differences in local customer behaviour should effect how I lay out my stores, how I group my product and display it?
  • what differences in pricing and sales promotions do I need to consider?
  • will my approach to customer service, and the training I need to give be different?

 

This is how we help…

 

international-store-delivery-customisation

18.  International store delivery customisation

 

“What should I consider and implement differently when I open stores in other countries – assortment editing & grouping, space location & density, pricing & promotions, display, store layout, customer service…?”

 

Overview:

Assessment of current store delivery parameters in the retailer’s native country, benchmarked against same parameters of best practice competitors in the target country.

  • Assessment of current sales performance KPIs across store areas, depts. and categories
  • Prioritisation of store delivery elements that contribute to maximum sales & ROI
  • Identification of essential delivery elements for brand proposition
  • Benchmarking of destination country best practice competitors
  • Analysis of other native retailers now operating in destination countries

Benefits

  • Identify differences in product “taste” and reflect that in the edited assortment
  • Identify seasonal differences and modify assortment waves and clusters through time
  • Identify the balance in different product grouping, coordination and categories
  • Identify the correct display techniques related to local buying behaviour
  • Identify local trends in store layouts and adjacencies
  • Identify local opportunities and dangers in levels of store implementation and maintenance
  • Identify needs and opportunities for VM tools, guidance and training
  • Identify local store operations needs
  • Identify local expectations of self-service and customer service

Process:

  • Analyse client store sales performance and key deliverables in existing market
  • Identify important store delivery mechanisms related to sales and brand image
  • Identify opportunities for delivery in existing market into new market
  • Benchmark best practice competitor store delivery trends
  • Benchmark native retailers in new markets
  • Identify essential trends to be adopted into stores in the new market
  • Identify new delivery mechanisms with maximum ROI
  • Identify essential “pitfalls” to avoid
  • Identify support required in new country via social media, web and loyalty programmes
  • Devise action plan for store delivery in new country

Aggressive actions:

  • Edit the assortment according to local tastes
  • Calculate correct display densities and store capacities
  • Develop in “mock-shops” new display techniques appropriate for new market
  • Develop training and implement before store opening
  • Revise windows, marketing and social media for new customer

 

 

5As-audits-analysis-answers-aggressive-actions

Check out more of our series of “audits, analysis, answers & aggressive actions”

tim radley - CEO, VM-unleashed.ltd

 

Please get in touch. We’ll be happy to help & advise…
+44 (0)7967 609849
tim.radley@vm-unleashed.com

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