VM=Vendor Management – retail professionalism & refresh

transforming independent retailers into local destinations provides any town with its lifeblood and personality, and store refreshment across a town, combined with new retail professionalism, is required to develop a collaborative approach and re-ignite energy, pride, traffic and commercial performance.

the lack of a collaborative approach to store refreshment fails to address the essential problems of poor traffic based around a lack of genuine choice and professional retail expertise and service.

 

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What can we do for you?

  • how do you improve the professionalism and performance of independent retailers?
  • how can you find a cost effective way for “hand to mouth” retail businesses to receive advice and professional guidance?
  • how can you help improve individual retail stores but for the benefit of the community?
  • what can small retail businesses do for “quick-wins” whilst improving  fundamental business practices?
  • how can you ensure that “cosmetic refreshes” become sustainable commercial initiatives?

 

This is how we help…

 

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17.  Vendor Management “One Shop at a Time!” – retail professionalism & store refreshment

“How do I efficiently and cost-effectively improve the retail proposition, processes, professionalism and performance of a retail community formed from independent retailers, local destination chains and national retail brands?”

 

Overview:

Quick to action revitalisation of independent retailers and small chains (and stores of national chains if appropriate) improving individual physical stores delivery & performance, as well as part of the wider retail location regeneration

  • Working through retail community workshops, individual store surgeries, shop revitalisation plans, quick-win actions, ongoing catalyst initiatives and retail destination sustainable support
  • Specific store involvement set against the wider “Shopportunities” retail location plan
  • Working with each retailer to improve the assortment structure planning, store space planning, visual merchandising, shop refreshment, events, marketing & promotional calendars, staffing & customer service, store operations, and store rules & schedules
  • Identifying and delivering customer focused, visible improvements for “quick ROI wins!”
  • Working collaboratively with all retailers to leave a “lasting legacy”

 Benefits:

  • Revitalise existing small retail businesses individually and as a retail community to improve individual conversion and sales performances whilst increasing footfall and traffic as a retail location group
  • Identify “quick-wins” to effect tangible sales improvements
  • Support and assist in the implementation of priority ROI actions
  • Maximise available grants, local and national funding
  • Support with “quick-wins” the longer term plans of BIDs and town centre planners
  • Generate community collaboration and energy and a “retail destination heart!”
  • Generate a culture of “self-help” and “community help” leaving a living legacy

Process:

  • Assessment of goals and objectives of existing business plans for the retail community
  • Development of working structures & timetables – Retail community workshops, individual store surgeries…
  • Creation of ROI plans for each retailer with working strategies, responsibilities & timetables
  • Initial assessment for each retailer of KPI store performance, assortment structure planning
  • Initial assessment of promotions and marketing calendar
  • Initial assessment of store operations, replenishment and store regimes
  • Creation of the “retail community refreshment plan” with milestone objectives, responsibilities and initiatives
  • Ongoing “hands-on & hands-off” retailer support programme

Aggressive actions (from a potentially long list):

  • deliver “community” events to drive traffic & build community
  • “quick-win” store refreshment programme
  • windows and exterior fast initiatives
  • best seller store display and assortment blocking
  • appropriate modifying of prices and sales promotional activity
  • energise customer service and store dynamics
  • audit local community skills for immediate support

 

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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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