store dynamics audits & analysis

 a correct story dynamic creates an interesting and inspiring experience for the customer stimulating new purchases against a back-drop of stability

inappropriate and inconsistent changing of displays, promotions, waves of merchandise and windows & graphics can deliver either a laborious routine or a confusion of inconvenience for the customer, reducing frequency of visit, conversion and value of sales

 

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What can we do for you?

  • do my stores have the correct change of pace?
  • are my “rates of sale” suffering from static stores?
  • how often should I rotate my displays and change my windows?
  • Is my promotional dynamic commercially effective in driving sales?
  • how many “waves” of new product should I have, and when?

This is how we help…

store-dynamics-assessment

4.      Store Dynamics Analysis & Improvements

 

“How do I assess whether and how to change the dynamics of my store proposition to stimulate rates of sale, through re-merchandising, space layout and events & promotions?” 

Overview:

Detailed analysis of client store dynamics, within the wider omni-channel retail calendar, to assess the current weaknesses and opportunities to increase store performance KPIS through improved store changes.

  • Assessment of the relationship between dynamic store actions and KPI patterns in several client stores
  • Assessment of window and front 1/3rd store dynamics and KPI patterns
  • Assessment of the relationship spatially between store changes and directly related sales KPIs
  • Assessment of the dynamic relationship between the wider retail calendar and client store changes
  • Assessment of the consistency of timings/frequencies within a selection of client stores
  • Assessment on the quality of delivery and visual impact of dynamic store changes
  • Comparison of dynamics/frequencies with competitors/best practice stores

Benefits:

  • Identify the direct relationships between dynamic activities and KPI increase patterns
  • Identify the optimum dynamics and relationships of windows, first 1/3rd store, store interiors and web/social activity
  • Identify the best delivery elements/touchpoints for in-store dynamic changes
  • Identify the optimum timings/frequencies and duration of store dynamics
  • Plan the optimum retail calendar for maximum ROI with appropriate analysis

Process:

  • Selected client store visits and competitor visits
  • Audit and analysis of client/competitor website and key social dynamics
  • Interviews with HQ stakeholders including marketing, sales, store operations, VM and merchandising
  • Analysis of retail calendar with relevant stakeholders – marketing
  • Interviews with store staff and “snap-shots” of customer comments/reactions
  • Detailed analysis of store performance KPIs by product spatial grouping
  • Detailed KPI analysis of KPIs related to specific promotions and events
  • Client presentation workshop

 Aggressive actions (from a potentially long list…)

  • work to introduce increased number of waves of assortment
  • plan remerchandising in-line with the average customer frequency of visit
  • reduce frantic over-dynamics of little visibility to customers
  • plan daily and weekly work schedules to maintain displays for busy times
  • develop a retail calendar for stores with planned and staggered dynamic changes

 

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For more information on how the store dynamics audit can help.

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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