To excel in retail you need to have a clearly defined external and internal retail concept. To become a world class retail you must have the right external and internal concept.
The external concept is doing right things, which is:
* Having a clear and unambiguous customer value proposition
The internal concept is doing things right, which is:
* To master the key retail disciplines to obtain chain advantages
* To define the right retail organization
* To define clear and structured ways of working
This example conceptualizes how to evaluate the internal concept.
For a long time many successful retailers have operated with an opportunity driven management, without clear strategic direction and a set of common guidelines. But as retail chains professionalize, competition intensifies and consumers become more demanding, retail chains are obligated to change their ways of working. Exploring synergies and obtaining chain advantages is required for future growth and success in retail.
A retail model consists of three conceptual levels: (1) strategic planning, (2) HQ support areas, and (3) shop execution &concept compliance. Each level contains disciplines that are vital in order to work efficiently and obtain synergies of being a chain rather than a stand alone shop.
This documents is an example how describe an entire retail concept to internal and external parties. The document can be used to describe your retail concept and as pitch material towards franchisee targets
Retail vision and concept
Retail concept description
• Assortment, location and sixe
• Store visuals and staff
• Preferred shop status
• Sales and merchandiser support
• Business intelligence
Investments and terms