Brief
RDG was commissioned to assist in the retail recovery of sales, profit and cash flow.
Strategy
Developed a two-pronged strategy centred around Diagnosis and Growth, involving an initial process of understanding the business, diagnosing the fitness levels and areas that could be quickly rectified; and then developing strategies for sustained growth through building omni-channel effectiveness and an experiential retail focus.
Implementation
- A plan was put in place that focussed on sales, store layout and presentation, stock mix and category analysis.
- A marketing plan was developed and implemented.
- A ‘business fitness’ focus through improving omni channel effectiveness, building customer loyalty and creating an experience that is enticing, enjoyable and being a ‘destination’ business.
- In addition sales forecasting and buying plans will be developed to more accurately predict customer trends and satisfaction.
Success
Within the first 3 months sales grew by well over 25% on LY, Gross Profit increased as a percentage to sales and creditors brought to within terms. In addition the business was returned to profit and now had sustainable long-term growth strategies.
Format: Food Merchandise and Training
Store Location: Newcastle
Merchandise Mix: Food Merchandise
Retail is hard. It is a tough, often lonely business. Change takes energy, experience and determination and often you don’t know “what you don’t know”. Having the Retail Doctor work with me has been one of the best things I have done in my business. They have given me insight. They have given me the courage to do things differently and better. They have given me the tools I need to look strategically, to develop plans, actions and activities that provide foundations to grow.”
Leonie Young
Owner
The Essential Ingredient
Owner
The Essential Ingredient