Retail In India
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This document outlines 10 strategies for improving business performance, including communicating value to increase sales by 3-5% within 6-9 months, driving traffic through targeted promotions for a 2-6% sales boost in 3-6 months, focusing on fast-moving items to miss no sales for another 2-6% gain in 3-6 months, and restructuring indirect costs for a 0.2-1.4% bump in 6-9 months. Other strategies address reducing direct costs, managing cash flow, increasing investment returns, acquiring new channels, developing talent, and winning locally through competitive store management.
Retail In India
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- 2. 1. Communicate Value 3-5% increase in sales in 6-9 months
- 3. 2. Drive Traffic Shifting promotions to traffic generating vehicles and messages
- 4. 3. Never miss a single sale Focus on availability of fast moving SKUs 2-6% increase in sales in 3-6 months
- 5. 4. Reduce Direct Costs Simplify merchandise range 2-15% in 3-6 months
- 6. 5. Restructure Indirect Costs 0.2-1.4% increase in sales in 6-9 months
- 7. 6. Work on the Balance Sheet Manage cash flow 5-25% of net working capital in 6-9 months
- 8. 7. Increase Investment Efficiency Set up 4 stores for price of 3 10-25% of CAPEX in 6-9 months
- 9. 8. Acquire Find who needs to sell, get into Channel Management 10-40% savings in 6-9 months
- 10. 9. Get Talent Build bench strength
- 11. 10. Win locally Market battle plan & engage in specific and competitive Store Management strategies.
- 12. To know more call me on 9869282981 or write to me on info@3ifoundation.org