NewsCovid19

Virtual advisory and support for retailers during COVID-19

We’re all in this together and in response to these hard-hitting times, Retail Doctor Group’s Implementation team is offering our shopping centre community support for their retailers, including independent retail owners and franchisee operators through this period.

Building on our successful Fitness Action Programs we will utilise our experience to provide advice and guidance. The program will include clear and concise steps to help retailers survive this period.

For each retailer we will commence with a 45-minute video call to discuss their current situation, what actions they have already taken, advise their next steps and a long term strategy focussing on the key areas of:

Fiscal Physical™ – Cash flow management, stock management and how to reduce costs.

Customer connection – How to stay connected with customers during this period, maintain engagement and customer spending.

Strategy sensor – Potential strategies to maximise trading and relief packages available.

Omnichannel – Guidance for possible online options and how to move to an online operation.

Effective people – Guidance on staffing options.
Following the strategic discussion, we will create a tailored Fitness Action Plan and Best Practice Checklist, which will have clear actions of what to do next. A call-back will then be arranged 1-2 weeks after to discuss changes, progress, and their immediate issues.

Goals and benefits of the program

This program aims to provide a point of contact for retailers to gain expert advice and support. It will ensure that they function to the best of their abilities and forward planning for post-COVID-19 operations.

For the retailer

  • Clear advice and priorities with “how to steps” in difficult circumstances.
  • Best practice checklist for retailers to follow.
  • Experts are available to talk and provide advice and reassurance in unique trading conditions.
  • To assist retailers with the best ways to utilise their limited cash flow.
  • Ensure that they employ the 80:20 principal of stock mix.
  • Assist with relevant and effective plans for the recovery period.
  • Provide updated advice on government assistance packages and how to best access it.
  • Provide forward planning and direction for the current circumstances and likely future scenarios.

For the centre

  • Strategy to ensure retailers survive through this period.
  • Advice to retailers on the best and equitable distribution of creditors payments.
  • Visibility on what retailers are doing to strategise and implement action plans.
  • Improve retailer skills for long term recovery and successful decision making.
  • Feedback to centre management of retailers actions and likely outcomes.
  • General assessment of retailer sustainability.
  • RDG to act as an independent information conduit between retailers and centre management.
  • Advise centre management of where assistance will be most well spent.
Talk to us
There is nothing like ‘hands-on’ experience to repair, refine, or grow your retail business to its optimal market value. A Fitness Action Program will show you how your business can survive and thrive.
Call on +61 2 9460 2882 or email businessfitness@retaildoctor.com.au today.

 

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