Month: April 2019

Middle Classes Checking Out: Mass Grocery Retail in Central & Eastern Europe( http://www.bharatbook.com/Market-Research-Reports/Middle-Classes-Checking-Out-Mass-Grocery-Retail-in-Central-Eastern-Europe.html) is a new special report by leading independent economic forecasters Business Monitor International on the Central & Eastern European food retail market. The report provides regional commentary and opinion across 14 countries, SWOT analyses across the Central & Eastern European region and BMI’s expansion and growth forecasts to 2012 for the grocery retail industry.

This new special food retail report also features individual country chapters on Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Russia, Serbia, Slovakia, Slovenia and Ukraine. Each country section features comparative performance indicators of the major grocery retail formats (supermarkets, hypermarkets, discount stores and convenience stores) and the independent sector against the major retail chains. SWOTs on the region’s leading retailers include company overviews, strategies, store networks and grocery market positioning. Each profile covers key statistics including financial performance, number of retail outlets and employees. Middle Classes Checking Out: Mass Grocery Retail in Central & Eastern Europe also includes a macroeconomic forecast for each Central & Eastern European market for 2008-2012 and future risks to growth as predicted by BMI.

For more information please visit : http://www.bharatbook.com/Market-Research/Grocery.html

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Bharat Book Bureau Tel: +91 22 27578668 Fax: +91 22 27579131 Email: Website: www.bharatbook.com

Shop Mannequin is one of the most popular and successful retail display devices in history. For centuries, they have assisted store owners and managers in bringing their clothing and other displays to life. Mannequins are those silent sales people that show off the latest and greatest without bugging the customers, and with a little brain, they can be the most effective sales staff.

There is an abundance of mannequin types in the world of merchandise. Men, ladies, children, and even animals are created in mannequin form as well as any variety of body sections. Necks, heads, legs, hands, and just torsos are used for accessorizing or specific clothing display. Though any of these mannequins can spice things up, the right mannequin design, as well as professional merchandise placement, will put mannequins to use in a whole new way.

It is most important to emphasize the merchandise in a mannequin display, unless of course you own a mannequin store. However, the obvious need for a merchandise focus is of little value without a creative setup. The types of mannequins, the pose, the hair, the skin color, and every feature of a mannequin display must reflect the category or style of merchandise on display.

Mannequins displayed in a formalwear store or department should have conservative and elegant poses, and should most likely be sleek and artistic in design, while those in a sports category can be partial forms or full body mannequins in active poses. Female, sporty mannequins need short hair or ponytails, and the body forms should appear fit and muscular.

Just because a mannequin is used, does not always mean that it will be cheap regardless of where you purchase it from. Similar to buying automobiles, some mannequin brands hold their value because of their superior craftsmanship, design and established brand name. Just as a used Rolls Royce or Mercedes will cost more than a brand new Toyota, there are some brands of mannequins that are expensive even though they are used.

A brand name mannequin with realistic features can cost between $750-$1300 new. If a used one is 50% off, it will still cost more than brand new no-name mannequins imported from Asia which retail between $250-$400. Brand name mannequins cost more because they are actually fiberglass sculptures of real life humans and many of the steps involved in creating them are done by hand.

Sculptors usually begin with a metal skeleton, bend it into a pose and build it up with clay. The clay figure is then cast as a mold to hundreds of identical fiberglass mannequins. The mannequin is passed through the hands of at least a dozen artisans, from sculptors to sanders to painters and this level of detail is why high end mannequins look so lifelike and their solid construction makes them more durable.

Less expensive knock offs, made in Asia are made by machines and resemble life-size dolls. Instead of looking fluid they have stiffer looking poses. They tend to break more easily if they fall and many of their joint fittings are made out of plastic instead of metal like the more expensive brands. Sometimes they do not hold up well under the hot sun if they are in a store window. These are best used for online vendors or people who use a mannequin occasionally.

If you are looking to buy a Rolls Royce or Mercedes caliber mannequin on the used market, here are some brand names to look for: Adel Rootstein, Patina V, New John Nissan, Hindsgaul, Ralph Pucci, Greneker and Goldsmith. Usually – but not always – mannequins produced by these companies will have their company name stamped somewhere on the mannequin bottom of the foot, or on the butt or back, even on the head.

There are a few other factors that can drive up the price of a used mannequin. Since the majority of mannequins in retail stores are in a standing position, a mannequin that is in a seated, reclining or athletic pose is highly sought after and the demand outstrips the supply. Also Asian or African-American mannequins as well as plus size mannequins are scarce in general, so a used one in good condition will command top dollar.

A few mannequin manufacturers (Rootstein and Patina V) have produced limited edition mannequins that were fabricated after real-life supermodels or entertainers. When these mannequins are no longer in production it increases the value of used ones. Another mannequin company – Ralph Pucci -commissions well-known artists and designers such as Maira Kalman, Jeffrey Fulvimari and Anna Sui to design a line of mannequins for them. Since these mannequins are popular as art pieces in addition to being a vehicle to display clothing, they can sell close to their original price of $1,100.

If a used mannequin has all its parts, but they are broken or damaged, a skilled mannequin refurbished can bring them back to life. If there isnt a mannequin refurbished in your city, you can find one online and then ship the mannequin part to them. The company that we work will give us a rough estimate of the repair cost when we email them digital photos of the broken part so we can determine whether or not it is worth it.

Typically the first thing that gets damaged on a mannequin is their hands, which is why you so often find used mannequins for sale with missing hands. Even if all the fingers on the hand are broken as long as there is at least a stub attached to the wrist – there is a good chance that the hand can be repaired by the mannequin refurbished. But if there are no hands at all, it is extremely difficult to find a replacement hand online. If you are lucky enough to know the name of the manufacturer of the mannequin, you might be able to purchase a hand from them directly if the mannequin is still in production.

The reason why it is so hard to find replacement hands is because there is not a universal standard in the device that attaches the hands attach to the arms. Some hands have a round fitting, some are square, some have a keyhole shape and each of these shapes come in different sizes.

Retail Dashboards are pictures of spreadsheets used by executive managers to visually identify around five key performance indicators. Dashboards have gauges, like the speedometer in a car, and graphs and colour, to draw attention to areas of strong and weak performance of each retail store and the organisation as a whole. They may display: sales per hour, items per sale, average sale, conversion rate, and wage to sales ratio at the store, regional, and national level.

The purpose of the Dashboard is to enable executive managers to effectively communicate strategy and objectives to area managers who then reinterpret the strategy into actions for each store manager. Ultimately it is the Salespeople on the shop floor who carry out the activities that satisfy the objectives of the company.

Sophisticated Dashboards allow executives to produce what if scenarios, save them, and send them down the line to their area managers. But mostly, there is an upward reporting of numbers and a downward communicating of strategy – meaning that the statistics are lost at the individual Salesperson level.

For example, an executive dashboard may show each stores sales per hour KPI (Key Performance Indicator) compared to each other store but it does not show each Salespersons sales per hour compared to each other Salesperson within the store. Therefore it is impossible for the executive to know at the individual Salesperson level how to improve sales performance.

Particular to the retail industry sales are made on the shop floor. Not by telephone or meetings, or online purchase. While branded merchandise and store design attracts customers to the shop it is almost always the Salesperson who makes the sale. But in almost all cases Salespeople have no individual daily sales target because there is no system in place to generate objectives, goals, targets at the individual sales level.

This represents a problem because area managers, who have been tasked by executive managers to improve sales performance, have no further information about the KPI activities within that store.

Once the merchandise and store displays have been checked by the area manager, the next logical step is to look at the POS (Point of Sale) reports to identify poor areas of performance. And here comes the surprise! – Not a single POS system is able to tell managers which Salespeople performed better than others. Why, simply they do not have a time sheet (roster) attached to Sales Targets so have no way of calculating predicted or actual individual sales goals.

Some attempts use spreadsheets to figure out individual sales goals but spreadsheets fall over. They inaccurately produce goals as they do not weight fast and slow periods of the day. They are not connected to a dynamic time sheet meaning if the roster changes the goals do not, but should. Spreadsheets take time to copy, past, edit, modify, and correct mistakes. And there is no feedback system for comparing actual performance compared to everyone on the shift.

While an executive manager can see that a particular store is underperforming, because a KPI is lower than the other stores, they cannot determine who in the store is underperforming on the same KPI.

So whats the big deal? If you cannot determine low KPIs at the individual Salesperson level in retail then you cannot improve individual sales performance based on statistics and dashboards are pretty pictures about statistics – which we interpret as instructions for changing behaviors. Dashboards cause executive mangers to want to change behaviors across the organisation but, as you can see, they do not help front line store managers change behaviors at the individual staff level.

Effectively increasing sales in retail by focusing on the sales skills and behaviors of each individual salesperson, requires a sophisticated, easy to use, web-enabled system, that communicates the objectives of the organisation to each individual salesperson on a level playing field. Such a system will report both up and down the organisation so that staff at every level can understand the objectives of the organisation clearly, statistically, and fairly.

In a recent publication entitled Retail Innovation Opportunities: Ten for 2010 Retail forward identifies ten innovation opportunity areas with tremendous potential for creating new consumer benefits and stakeholder economic value.

Generally over the past few decades, most retail innovations have focused mainly on the response to mass market opportunities. However, as ongoing technological innovations and operating strategies continue to improve, Retail Forward believes future retail innovations will be more customer-facing addressing the unique needs and desires of customers.

So who has the next big idea? Who is going to just wake up randomly dream up a master innovation? Highly unlikely! Potential innovators in the retail industry might what to challenge traditional competition-based strategies and consider a systematic approach to innovation Blue Ocean Strategy.

Retail Forwards first, Catch a Wave. Retailers that apply innovative thinking to a growth souk opportunity created by demographic, societal, economic and technological trends can make major growth and financial performance. The requirements of an aging population, ethnic consumers and the pursuit of a healthy lifestyle give fertile ground for innovative solutions.

Secondly, Solve My Problem. Consumer-centric approach creates opportunities to add value to the shopping experience. This requires adding services, information and support to the product mix to provide a complete solution for task-oriented shoppers. Presenting products in context and bundling products and services retailers create consumer value and competitive differentiation.

Retail Forwards second idea closely relates to the cornerstone principle of Blue Ocean Strategy which is known as value innovation. Blue Ocean Strategys value innovation refers to creating a leap in value for buyers and your company. Value innovation renders competition irrelevant because it seeks to pursue the simultaneous achievement of differentiation and low cost, thereby opening up new and uncontested market space.
As mentioned previously, the retail innovation trends focus mostly on technology. Blue Ocean Strategys value innovation places and equal emphasis on value and innovation because value without innovation tends to focus on value creation on a small scale and innovation without value tends to be technology-driven.

Third, Do It for Me. Demographic shifts and lifestyle changes are driving former DIY consumers into the do-it-for-me (DIFM) market. Retailers are responding to consumers’ increasing demands with innovative services and conveniences. Installation services from home improvement and consumer electronics retailers and home meal replacement options are fast-growing examples of do-it-for-me innovations.

Compare your retail business with other industry competitors by drawing a strategy canvas. Companies can formulate and execute their Blue Ocean Strategy by building their strategic planning process around a strategy canvas. Retail Forwards Do It for Me is a direct observation of how other companies have changed to consumer-centric products and services. Companies that develop a strategic profile on an industry by depicting factors and possible future factors are a great step toward innovation.

Fourth, Help Me Choose. Information overload, too many choices, more complex products and a lack of knowledgeable sales assistance create opportunities for retailers to develop innovative solutions for consumers. Allowing shoppers to sample the merchandise before buying, utilizing on-demand information kiosks, partnering with celebrities to provide a seal of approval and creating online communities provide consumers the help they need.

Fifthly, Come to Me. New distribution models are allowing retailers to connect with consumers wherever they are-at home, at work or in the car. Mobile retailing and target marketing are gaining in popularity as time-pressed consumers seek greater convenience. New-style direct-to-consumer rental concepts also are serving an important consumer niche.

Retail Forward addresses a great point consumers are connecting much more accessibly and in different ways. Blue Ocean Strategy too looks at the engagement of customers, but also addresses the non customers. To reach beyond existing demand one ways is focusing on existing customers. The other is the drive for finer segmentation to accommodate buyer differences. Typically, to grow their share of a market, companies strive to retain and expand existing customers. This often leads to customer preferences. The more intense the competition is, the greater, on average, is the resulting customization of offerings. As companies compete to embrace customer preferences through finer segmentation, they often risk creating too-small target markets. To maximize the size of their blue oceans, companies needs to take a reverse course. Instead of concentrating on customers, they need to look to non customers. And instead of focusing on customer differences, they need to build on powerful commonalities in what buyers value. That allows companies to reach beyond existing demand to unlock a new mass of customers that did not exist before.

Six, Enhance the Experience. Retailers increasingly will differentiate themselves by using experiences to sell the dream-as well as the product-and bring the brand to life. By making stores “super-immersive” and integrating branding into entertainment and other customer experiences, retailers are exploring ways to create memorable brand interactions that resonate with their target consumer.

Seventh, Make It Easy. Innovative process, service and design solutions that are simple, intuitive and in tune with shoppers’ needs-along with new technology tools-can save consumers time and effort. Retailers that implement easier and more rewarding customer experiences will realize sales growth and enhance customer satisfaction and loyalty.

Eight, Do It My Way, shopping becomes more and more individualistic, innovative retailers will look for ways to present more unexpected gratification to shoppers and allow them to communicate themselves in unique ways. In addition to mass customization and personalization, retailers are offering opportunities for customers to contribute in the growth of new products and services.

Ninth, Help Me Connect. Social networking fosters community among customers who share a general interest. Retailers are forging stronger relationships with customers and earning their patronage by helping them to connect in ways that are significant to them and by responding to their expressive and substantial requirements.

Lastly, Speed It Up. Consumers want it fast; they want it now; and, they want it first. The need for speed in the shopping process will continue to drive changes in store concepts, design, location, merchandising, transaction processing and payment.

Retail Forwards Retail Innovation Opportunities: Ten for 2010 focuses on how companies in the retail industry will innovate around new formats and distribution models, product and service offers, marketing and customer communications and other components of the retail business model. These creative ideas and core principles of Blue Ocean Strategy could lead to the next innovator in retail.

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