St Albans, UK
Retail Marketing Maven, Owner at RMM Consulting and Retail Marketing Maxim. www.retailmarketingmaxim.co.uk - brand, communications and operations know-how from a retail marketing maven
Comment on: Vivienne Westwood's "stop shopping" shocker
Whilst I 100% agree that the environment is a highly important issue, I also know that we are still in an economically fragile position.
I would have preferred a lead by example/actions speak louder than words approach! Give us something we can look up to rather than just letting out a stream of buzz words...
Comment on: Uniqlo's European expansion gathers pace
Great news! Well done Uniqlo.
A word of warning: it can be easy for businesses to get overly focused on increasing the number of stores in their portfolio (it can be a bit of an ego thing). Please be sure to keep seaking improvements and efficiencies throughout the business!
My word of warning follows a recent trip to a Uniqlo store that made me wonder about cross functional communication.
I had seen HeatTech advertised on TV and when I arrived at the Oxford Circus station one day it was also heavily advertised in the underground station. This twigged my memory of the TV ad. I decided I had time for a quick trip before my meeting (20 mins) but on arriving at the store HeatTech seemed to disappear! I had expected some sort of synergistic POS or instore navigation to direct the footfall driven by all that expensive advertising. I walked around and around trying to find it downstairs then upstairs and eventually, just as I was about to give up I found it tucked in a corner. I found what I wanted but unfortunately after a very long wait in the queue and only one cashier I had to put it down and leave or risk being late.
As a fan of Uniqlo and knowing that there is always room for improvement in any business, I thought it would be great to see more collaboration between marketing, merchandising, VM, instore and other teams. Even a campaign planned and executed with a huge amount of time and money will fall over at store level without great communication (quality not quantity!) This should make sure any additional footfall driven into the store is taken advantage of and the company benefits from the best possible bottomline ROI for their spend. Oh yeah, and this should help them to keep opening all those stores.
Best of luck Uniqlo!
Ah ha! It seems we have reached the tipping point.
If you are a retailer with cash in the bank the last few months have been a great time to secure leases on a low rate and with great rent free periods.
Now it looks like that is starting to change. There are signs that a large portion of retailers have stopped holding their breath over the recession so many who put expansion plans on hold a year . Many of these retailers may now be looking to revive there expansion plans.
Supply may not be outstripping demand quite so much so the time for bargins might be over.
Comment on: Profits at Cath Kidston soar
This is great news for Cath Kidston. At the moment many retailers would be happy to simply maintain T/O and would be pleased for any profit at all. In fact, just remaining solvent would probably be enough to please some! Cath Kidston have substantially grown both T/O and profit and this is off the back of opening 10 new stores. New stores can be a huge drain on cash and take time before they deliver a contribution in to the business. From a sustainability point of view it is good to see that they have managed this without taking onb debt. Bravo!
Comment on: Kurt Geiger EBITDA soars 21%
I was just thinking the same thing as the above post. EBITDA is a difficult measure because it is a non-GAAP metric and from what I understand could vary from retailer to retailer in terms of how they arrive at the stated figure however it is popular in private equity...