Publisher's Synopsis
Why should you read this book when there are literally thousands of books on the market about increasing retail sales? If you were to ask sacked Tesco CEO Philip Clarke this question, his response would be, if he knew what is written in this book, he will still have a job. Picture this right... When he took over Tesco, the retailer was the second most profitable retailer in the world and the fourth most profitable business in the UK. At the end of his three years reign, Tesco's market share shrunk to 28.9% while in the same period, Aldi doubled in size to 4.7% and Lidl increased its market share from 2.5% to 3.6%. So, what did Tesco do wrong under Mr. Clarke's stewardship that Aldi and Lidl got right? Once upon a time, Marks & Spencer was the biggest dog in the UK's fashion kennel. Currently, Marks & Spencer is struggling while it embattled CEO cling on despite repeated calls for his head. What took Marks & Spencer from a retail phenomenon to a basket case? Lingerie retailer La Senza has gone bust for the second time in two and the half years. Their CEO blamed difficult trading conditions. Is Victoria Secret trading in different trading conditions to that of La Senza? These are some of the questions answered in this workbook. Harrods is not the favourite shopping place for the rich and famous just by accident. Richer Sound does not have the highest sales per m2 than any retailer in the world by default. Next retail profit did not surpass Marks & Spencer by luck. Neither is Holland & Barrett, the second most profitable business in the UK, by divine intervention. Those retailers deliberately engineered their success. The strategies and tactics used by those successful retailers can be replicated by any other retailer to increase their store sales. For example, Sir Terry Leahy's transformation of Tesco into the second most profitable retailer in the world was deliberately designed from the very first day he took over Tesco. There is a direct correlation between Richer Sound's knowledgeable staff and its highest sales per m2. Marks & Spencer's current woe is directly linked to the fact that its clothing lines look as they were designed by blind fashion designers. You will think La Senza's lingerie were designed by ten people with different multiple personality disorder. There is a formula for retail success and/or failure. That formula is what you will learn after reading 'How to Increase Retail Sales, with Store Design, Visual Merchandising Display & Retail Loss Prevention' workbook. What I learnt from studying the most successful retailers is, there are three fundamental questions requiring answer by retailers in order to increase sales: - Who are we selling to? - What are we selling to them? - How are we selling to them? Why are those three questions imperative to increasing retail sales? Increasing retail sales requires: - A beautiful store design - An attractive visual merchandise display - An effective loss prevention strategy You cannot design a beautiful retail store, neither create an attractive visual merchandising display without first identifying who you are designing the store or creating the display for. And to increase sales without stemming profit draining activities is false economy. In 'How to Increase Retail Sales' workbook, I walk you through the process of: - Designing a beautiful retail store - Creating an attractive visual merchandising display - Creating an effective retail loss prevention strategy that reduces your shrinkage by 84% resulting in 51% profit increase You will learn how to: - Attract customers - Retain them for long in the store - Persuade them to buy - Trigger repeat purchase
