Brian Walker, CEO of Retail Doctor Group speaks with Ross Greenwood on the “dog-eat-dog” world in the department store business regarding streamlining brands. Click here to hear the full audio with the segment introduced at 55:20 mins
David Jones and Myer have both indicated they will restructure their department store operations and will start to streamline a number of brands within their stores. Myer appear to be following suit as David Jones stripping brands has seen increase by 5-6% as a result. Brian Walker says Myer stand a chance if they can retain exclusive brands and signature ranges.
With the introduction of more flexible working hours and positions including more casual staff within Myer this could lead to redundancies in over 42 stores. Walker says ‘this has always been a big challenge for department stores… but will will help to create more interest in the brand’.
With departments stores being fundamentally houses of brands, Woolworths South Africa are exploring its ability to put home brands within David Jones stores which will involve higher profit margin regarding fashion. Woolworths South Africa have impressive retailers on board and are looking to invest in technology, ranges, database systems to connect with customers 24/7 and home brands for differentiation, higher margin and exclusivity to remain competitive.
To book Brian Walker as a keynote speaker for your next industry event or conference, please click here for more details on his speaking offer. Or to find out how Retail Doctor Group could assist in your brand strategy within department stores, please call 0294602882 for a complimentary discussion with one of our team.