The dynamic, exciting world of retail can also be one of the most frustrating as any CMO, buyer, merchandiser or store manager will testify. From forecasting the products consumers will want in six months’ time to battling challenges with unpredictable weather and predicting which promotions will win against the competition, having access to the insight and analysis that will maximise revenue is critical.
It’s an industry-wide challenge that affects the big players just as significantly as the small. Next, Sainsbury’s, John Lewis and Primark have all recently reported a significant slowdown in clothing sales in the UK – a problem that is being blamed on the unseasonably warm Autumn weather we are enjoying. And of course for retailers with multiple sites, regional dynamics and population sizes play a part too. It’s not surprising then that there is so much emphasis on the store manager to make head office plans a success.
Those at the sharp end of the retail sector know better than most that remaining competitive is the key to the success of their business. But how do store managers find out how competitive they really are?
Often, key analysis is done at head office, but a ‘one size fits all’ approach can cloud the real view of what’s happening at store level. What’s more, data is often presented in complex spreadsheets that are difficult to navigate. Store managers can become ‘blind’ to the numbers and, when it comes to interpreting their individual store data and reacting effectively, they find themselves unable to see the woods for the trees.
Zoined is undertaking an industry-wide survey to find out how retail stores across the country gather, manage, analyse and implement key data about their sales, staff and customers. We’ll be finding out the key trading times within different verticals and how individual store managers prepare for peak sales, how stores measure the success of promotions and what impact external factors can have. We’ll also find out what the top retailers who are leading the field are doing that makes them so successful.
We want to help UK retail businesses benchmark themselves against the rest of the UK retail sector, so we’ll be asking a number of companies to undertake a short and confidential survey.
If you’d like to take part, you can complete the survey here:
It only takes 5 minutes and don’t worry, all replies will be kept private.
We’ll be sharing the results in a couple of weeks, so watch this space!