The first question for the evaluation of a retail strategy or a shop design should always be which consumer range to approach, why a consumer should be interested in your business and what market potential you can expect. The markets of CEE, Russia, Ukraine and surrounding countries are different than Western European markets, for this reason strategic advice from market insiders is absolutely recommended.
We observe retail failures in our region mostly because of wrong concepts rather than just poor execution. Trying to execute a poor or wrong concept normally just consumes a of money! The best retail strategies and concepts are those which are very simple to explain. They start with consumer needs, they fulfil that need better than anyone else on the market, they create customer loyalty due to focus on value for money and they are expanded quickly.
Our strategic advice offering is very diverse:
- Quick check analyses to assess the fitness of your retail business (KPIs, market, competition),
- Evaluation and strengthening of the current retail strategy,
- Market potential, competitive and business positioning analysis (also prognoses of mid or long-term situation),
- The organization’s Vision, Mission and Values review,
- Sales channel analysis and potential, including e-commerce/multichannel, store concept, catalogues, direct sales, TV-sales, etc.,
- Concept visualization, including consumer needs identification, range building, merchandising planning, size of store and pricing strategy,
- Organizational structure (organigram) for best execution of the defined concept
- Budgeting process estimating revenues, margins and expenditures. (full retail tool kit provided),
- Market visit guidance, covering all relevant retailers, price surveys and analysis of strengths and weaknesses of all players
- Location analysis of target business and competitors,
- Risk assessment and SWOT analysis including clarity on difficult to manage areas – future business potential analysis
- Recommended implementation steps of concept.