“undercover expert-ease” competitor store delivery benchmarking

 retail never stands still, so whilst its important to always operate to best practice standards, just because “things are always done this way” doesn’t mean a retail business should not be constantly looking to improve and evolve the customer experience

when a business stops looking at innovation and new initiatives in its own market and beyond then it risks becoming “stale” and being left behind in a competitive market place

 

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What can we do for you?

  • how well do my stores continually compare to best practice?
  • are my stores behind the latest delivery mechanics of competitors?
  • are we missing important events and seasonal dynamics?
  • do competitors have a stronger more attractive promotional calendar?
  • are we slow at following and communicating market trends?

 

This is how we help…

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7.      “Undercover Expert-ease” – ongoing competitor benchmarking

“How do I continue to assess & monitor my customer experience against market trends, competitors and best practice?” 

Overview:

Periodic analysis and comparison of client touchpoints against a selected number of market competitors

  • agreed number of touchpoints consistent across client & competitor stores
  • traffic light comparison levels of maintenance across competitors and client stores
  • comparison of seasonal event delivery common to all
  • comparison of use of different store elements and touchpoints
  • comparison of touchpoint seasonal trends/product categories across client/competitors
  • prioritising and score competitor innovations against relevance to client brand – “Innovation Indexing!”

Benefits:

  • Identify and compare the ongoing quality of store delivery in direct comparison to the quality of store delivery of competitors
  • Identify the comparative level of delivery of common events & touchpoints
  • Identify differences in seasonal focus between client and competitors – weaknesses and future opportunities
  • Identify new store delivery elements and touchpoints
  • Identify the most relevant innovation to the client brand

Process:

  • Visits to selected client & competitor stores on an ongoing monthly, seasonal basis
  • Visits linked to specific important seasonal periods
  • Checklist findings and take images of good/poor practice in client and competitor stores
  • Traffic light stores/competitors and important touchpoints
  • Creation of the “new touchpoints” competitor analysis documents

Aggressive actions (from a potentially long list):

  • put in place an innovation team to respond to new trends and practice
  • develop a test store and control store environment
  • identify each season priority innovations to develop based on “Innovation Index” priorities
  • implement in test stores, monitor, measure, develop & implement

 

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For more information on how “undercover expert-ease” 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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