A Reflection Rethinking Retail Workshop 2018
A little update on how our Rethinking Retail Workshop went on the 7th February. As you may know, this was a training day for head office retail managers. The day ran very smoothly and was very well organised delegates told us they went away with great ideas to bring into their own businesses. . Overall it was a great day with a tremendous turn out with tickets selling out in advance of the workshop. We would like to thank everyone who came. Special thanks to all of our speakers on the day. They all gave us great insight into the detail and effort that it takes to run a great retail support office.
The event kicked off shortly after 9 am with Breege O’Donoghue addressing a full house as she gave an introduction for the day ahead. Breege was followed by John Hogan, former Chief Financial Officer of Heatons Stores and current Chief Data Scientist and Co-Founder of RWA. John told us all about System Operations and the importance of having efficient meetings to keep everyone in the business up to date.
After a small tea break, Adele gave us great insight into how to implement central replenishment. Adele received great feedback with the audience loving how clear her presentation was and how easy it was to follow. Next up was Pam who spoke about store grading and taught us how to measure linear meters, stores and relay stores based on space productivity. Andrew Hewat then gave an excellent presentation on how he implemented store grading into Heiton Buckley stores. Andrew also gave a view of his reports that he uses from Real World Analytics that help him measure his margins by meter.
One of the questions posed for Pam and Andrew came as a result of Breege’s comment in the morning that 40% of retail business will be online in the next ten years. The question was, “how would you do store grading for an online store?” I found this particularly interesting as there are no physical measurements to be made. Pam Kelly said that she used to treat her online store like a real store (a large one) but for allocations she would apply sales grading and make exceptions as needed based on their trade. If they traded more in one department or area than another, then that would be her focus – great skincare sales but poor hair colour for example. If they could clear more reduced stock, Pam would increase allocations.
After a lovely lunch we had an open panel discussion with Oonagh O’Hagan CEO of Meaghers Pharmacy, our own John Hogan, Niall McGowan CIO of Heatons Department Stores, and Jackie Kelly Buyer for Born Fashions. The topics covered were varied, such as “when should you change your epos system” and “when you should implement an ERP Software.”
Simon Eames Merchandise Planning Lead for Harvey Norman gave an in-depth presentation on the importance of a correct product hierarchy. Simon went through product attributes and how they relate to the product hierarchy and what needs to be done to keep product data up to date.
Last but by no means least was a very engaging presentation given by Jackie Kelly and Pam Kelly on the overview of best practice range planning. They spoke about the importance of merchandise team and buying team working together and doing their homework on last year’s SWOT and lessons learned before doing range planning and going out on buying trips.
Don’t miss out on our future events
If you would like to be updated on our upcoming events and other content relevant to your sector, sign up to our newsletter.