Ken has joined forces with Mr Harald Kamp (CYK DESIGN) to present a unique retail training course.
What are the major retail issues impacting on retailers in today's environment and how can we bring value to retailers through our workshops, one on one training , and differentiate our approach from other retail training/ consulting groups with our knowledge , retail tools and workshops.
Firstly, retailers are under increasing pressure in the market place. Based on our work with many retailers in Australia, New Zealand, and Asia we believe retailers fail or get into trouble because of three main reasons. Our training programs and one on one support has been developed to overcome these three reasons:
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Failure to reinvent the business ongoing
Retail reinvention is advancing quickly in today's retail world. Reinvention starts with the customer and understanding the customer's wants and needs. It is also about providing an experience for their customers. All retailers must think strategically about where their business is today and how they should change in the future.
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Failure to build a winning sustainable product offer
In retailing 80% of sales will come from 20% of the product range. Proportional presentation and never being out of top sellers are fundamental disciplines together with a knowledge base of how to build and maintain that "winning sustainable product range". Often retailers are "trying to be all things to all people" which will lead to failure in today's retail environment.
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Failure to understand basic retail principles
In our work with retailers we know that basic retail principles such as category management, building a sales plan, a working knowledge of open to buy, margin management, importance of traffic dynamics, information technology, product presentation and housekeeping can make a difference. It is about building a management style in retailers that is proactive not reactive.
Secondly, retailers face enormous pressure to overcome the reasons for failure. In reality they are challenged with:
1. No peer support in their store
2. Poor visual presentation skills
3. Time poor
4. Poor promotional planning
5. Poor proportionate presentation of product
6. No planning financially, no planning for product
7. Information overload or no information
8. Lack of accounting and control disciplines
9. Gross profit pressures
10. Wrong product, no product or too much product
11. Competition
12. Customers lifestyles are changing, retailers are not
Thirdly, it can be demonstrated to independent retailers and groups that they can build a sustainable winning competitive advantage because of their specialty uniqueness as opposed to other retail sectors. These competitive advantages can be summarised as:
1. Strong range
2. Product knowledge
3. Exceptional service
4. Shopping experience for their customer
5. Quicker response times
6. Short term promotions
7. Customer loyalty
8. Flexibility
It is based on these fundamental issues that Harald Kamp & Ken Tickle have come together to build a unique training program that links the retail financial planning disciplines and the creative visual dynamics.
We can therefore add considerable value to the retailer in that we encourage them to "look outside of the square". We challenge them to embrace basic retail principles in their business, which can increase profitability, in a logical step by step approach, supported by practical examples and "war stories" from our retail careers.
The Retail Training Workshops
Short Presentation Version
Retail Financial Disciplines & Creative Visual Merchandising Dynamics
(Time required about 2 hours with a 15 min break)
This short version has been developed by Ken Tickle and Harald Kamp to present to a wide variety of different retailers. This presentation has been presented to groups such as Nextra (Newsagency buying group 150 members) and the Leading Edge group( an association of 1100 member retailers in Australia that cover such retail business as - Electronics, Jewellery, Digital, Computers, DVD & Music, &Telecoms). It has also been presented to over 1800 retailers within the shopping industry in Australia with the support of the landlords such as Westfield, AMP, Lend Lease, GPT Group, Dexus, and Jones Lang La Salle. Many conferences in Australia, Malaysia and New Zealand have also benefited from this presentation to their members.
This short version is design to encourage retailers of different backgrounds and ability to "see" the retail disciplines that they can implement into their own retail business.
For example, I was recently in a major shopping centre when a retailer came up to me and said - "I just wanted to thank you personally - my husband now has a buying plan not a spending plan..... It has made a significant improvement to our business..." Harald Kamp met with a regional manager of an 80 stores plus chain in Melbourne last year when we were working in a major regional shopping centre. This store was over 300 sq mtrs in size. From the outside of the store Harald was able to identify 8 major visual " faults" ranging from windows, lighting, traffic dynamics, signage, and interior display.... after 30 minutes in the store these issues were actioned. The regional managers stated that it made a significant difference to the look & feel of the store and increased traffic flow into the store. The next day the regional manager brought in 10 other store managers to review the changes and told them to implement the changes at their own stores.
Full Retail Training Course
Retail Financial Disciplines & Creative Visual Merchandising Dynamics
(Time required Full day)
This full day training workshop, often referred to as a "mini retail MBA" has been delivered to companies such as Noni B ( a 200 store + retail chain), British American Tobacco as part of their retail management development engagement process, Fairprice Supermarkets Singapore ( 100 supermarket managers), Nextra Newsagency Group ( 130 members) ,PMA Australia ( Printing & Marketing Association) as part of their continuing education program for members (300+) , senior retail managers across Australia and senior shopping centre executives to provide them with practical understanding of :
Retail Financial Disciplines providing them with the ability to:
1. Understand category management
2. Understand retail key performance indicators and retail formula
3. Interpret financial & retail terminology
4. Interpret and implement data gathered from management information systems
5. Analyse and use retail accounting principles
6. Understand how to build a range plan.
7. How to build a buying plan
8. Quantify profit & loss outcomes
Creative visual dynamics providing them with the ability to:
1. Observe and evaluate a retail store visually
2. Understand traffic dynamics
3. Understand key components of visual dynamics
4. Understand proportionate presentation.
5. Measure space usage
6. Define store design criteria
7. Build a promotional plan
We know that our workshops , one on one support training, and retail tools will enable the retailer to build an action plan that when implemented will make a difference to the profitability, cash flow, inventory management and the look and feel of the store. It will therefore increase the survival rates of retailers who will be able to identify the early warning signs of failure. We know that retailers generally sit in different quartiles. It must be a priority of landlords and buying groups to facilitate movement up through all quartiles bringing significant benefits to the landlord. Our training, support and retail tools are a fundamental ingredient that facilitates this process.
Our point of differentiation to many consultancy and training groups is that, based on over 60 years of combined retail experience, Harald Kamp & Ken Tickle can not only identify the issues but also develop an action plan to fix those issues. We bring a wealth of experience from other retail businesses that can inspire and educate retailers.