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Retail Technology Blog// Label Cloud User Variablesvar cloudMin = 1;var maxFontSize = 20;var maxColor = [246,124,42];var minFontSize = 10;var minColor = [0,0,0];var lcShowCount = false; #navbar-iframe { display:block } function setAttributeOnload(object, attribute, val) { if(window.addEventListener) { window.addEventListener("load", function(){ object[attribute] = val; }, false); } else { window.attachEvent('onload', function(){ object[attribute] = val; }); } } #navbar-iframe {display:none;}Retail Technology Blogblog by Deepak Sharmagoogle_ad_client = "pub-1381728106521098";google_ad_width = 468;google_ad_height = 60;google_ad_format = "468x60_as";google_ad_type = "image";//2007-05-27: Retail Blog Bannergoogle_ad_channel = "5248103747";google_color_border = "7F7F99";google_color_bg = "FBF3CE";google_color_link = "4D4DA4";google_color_text = "000000";google_color_url = "0000FF"; //Indian Retailer Sales per Sq Ft comparable to US RetailersInteresting metrics related to Retail Sales per Square Feet coming out of on news article (Retail biggies force to focus on destination malls) I read yesterday. In India, the modern neighborhood format stores are achieving sales per square feet around Rs16-20 per sq ft per day. And a number of Rs 35-40 (roughly $1) is considered viable to keep running the store. The thruput (sales) for the modern neighborhood formats currently stands at Rs 16-Rs 20 per sq ft per day as against Rs 35-Rs 40 per sq ft per day, which industry experts reckon is the minimum required for viability. There is a huge mismatch between the rents paid and the actual sales that take place in the formats. This comes to be roughly $360 for the year which is very much comparable to that of Retailers in United States, which considers $300 per square feet as a respectable number (as of 2005). As of 2005 annual store sales in the range of $300 per square foot ($3,000/m²) is considered a respectable result in the United States as the national average for regional malls is $341 per square foot[1], but the target number depends on the location, the type of store and other factors. Just to corroborate this, I searched for Reliance Retail's (One of India's top Retailers) Sales per square feet and found this article, Reliance Fresh and Small. According to this article, Reliance Retail could be having Sales per sq ft north of $300. Sources say that Reliance believes each Reliance Fresh outlet could earn annual revenues of Rs 3 crore. That’s a sale per sq. ft of roughly Rs 12,500. Industry sources say this is in line with what other chains have achieved in the past. For instance, at its peak FoodWorld had managed a Rs 300-crore turnover on its 80 stores. The average size of a store was about 3,000 sq. ft — or sales of Rs 12,500 per sq. ft. Some more details on Sales per Square Foot for US Retailers: Sales per Square Foot 2007.xls 2004 Operational Stats for Major US RetailersPosted byDeepak Sharmaat9:52 PM0comments Labels:Metrics,Research,Retail(The customer is) Not Always RightCame across a great hilarious site today, Not Always Right. From the About Page of the site: If you’ve ever had the pleasure of working in retail, service or other public-facing jobs, you’ve inevitably come across that occasional customer that either makes your blood boil, tickles your funny bone or leaves you totally confused. We all need a place to vent, so Not Always Right is a collection of quotes from these particularly memorable customers. We believe that while customers deserve to be treated right, so do the employees and the other folks that serve them. Not Always Right is about leveling the playing field for those of us who toil and sweat every day trying to juggle demanding customers and often unreasonable corporate expectations. At the end of the day, it’s about remembering that whether we’re a customer or an employee, we’re all human, foibles and all. Check out the stories from people working in Retail here, http://notalwaysright.com/tag/retail. Highly recommended if you want a good laugh. More so if you are from Retail or Service Industry. Posted byDeepak Sharmaat8:11 PM2comments Labels:Retail HumorRetailers 'Sell' to Young VirtuallyKohl's, Sears Build Brands As Children Clothe Their Avatars Online [WSJ, Registration required] Retailer Kohl's Corp. this month launched a new line of apparel, but the plaid skirts and printed T-shirts won't be sold in its 957 stores. Instead, it's selling them on Stardoll.com, a virtual community for teens and tweens where kids can fork over "Stardollars" -- purchased online at a nominal sum -- to buy apparel for their online characters.Posted byDeepak Sharmaat8:00 PM0comments Labels:K-Swiss,Kohl's,Sears,Technology,US Retail,Virtual StoresRetailspeak - Retail Magazine from MicrosoftJust came across an Retail Magazine from Microsoft called Retaispeak. The magazine has some very good articles and provides a good view in what other retailers are up to when it comes to Retail Technology. From restaurants to department stores, retailers face pressure to increase productivity, grow profits and justify every technology investment. Retailspeak, Microsoft’s customer publication for the retail industry, provides retail technology and business executives with a digest of the key challenges in the industry, and the technology solutions that can address them. Featured topics range from store systems and managing the supply chain through to business intelligence and enterprise collaboration. Retailspeak also provides a round-up of industry news, case studies, commentary, interviews and analysis. In addition to our team of in-house journalists, experts from all areas of the industry provide their insight on the retail industry. The magazine is published every quarter. Subscribe to Retailspeak to start receiving the definitive word on retail technology. You can subscribe to the same free at the following URL: Subscribe to Retailspeak or Download the current issuePosted byDeepak Sharmaat8:33 PM0comments Labels:Magazine,Microsoft,RetailSpeak,TechnologyMotorola SparrowWho won't go to a store which has such Mobile Point of Sale (MPOS) gadget.    The Motorola Sparrow was conceived to provide retail stores with a mobile point of sale device to solve increased service demands from consumers while decentralizing the check out point, i.e. pay for it and get out as fast as you can. It combines a scanner, point of sale (POS) system, RFID, communication and credit card reading capabilities into one mobile device. There are a few devices that offer MPOS (mobile point of sale) in the marketplace but none are consumer facing nor appropriate for front-end retail environments. Existing products are often rugged and obtrusive. If you’ve ever been to an Apple store, you know what I’m talking about. They often take away from the environment and make the entire retail experience unpleasant. Both the front and back of the Sparrow are equipped with touch sensitive areas, supposedly making it easier to navigate and use. The entire unit can hang from a lanyard. This isn’t a new idea but definitely a huge improvement. Many high-tech electronic stores now equip their employees with mobile point of sale devices but design studio Aruliden definitely has an eye for form and function. I’d love to see it integrated into retail environments. More here: http://www.yankodesign.com/2008/08/07/check-me-out/ http://www.aruliden.com/home.htmlPosted byDeepak Sharmaat6:36 PM0comments Labels:Aruliden,Motorola,MPOSWincanton to manage Reliance Retail's Supply ChainThe European supply chain specialist Wincanton will run the Supply Chain for food and grocery and hypermarket businesses of Reliance Retail. Reliance Retail which has scaled to 600 stores across India in the last two years have been feeling the heat managing the supply chain efficiently. Industry observers believe that the company has expanded very fast and has managed to set up over 600 stores across various retail formats in less than two years, but its supply chain is in a mess. “How to get the right merchandise to the stores on time has been its biggest problem. You’d often not find the goods you want in Reliance’s food and grocery outlets,” said a source. ... True to its form, Reliance built scale fairly rapidly, spreading from one city to another. The growth was achieved through a team of professionals poached from existing Indian retailers, but the pace of execution dwarfed rivals’ achievements. Reliance, however, realised it needed to do a lot more on the back-end to continue the pace of expansion and return early profits, which its shareholders usually expect. “It didn’t take Reliance long to realise that retail was a different ballgame altogether. It’s not just about some long-term government policy or certain business competency, which it’s known to manage well. The variables in retail business are far too many. There could be a number of factors such as general economic downturn, terror scare, shorter wedding season, cricket season like an IPL or a political protest, which can affect store sales. You need to be able to manage that,” said a source close to Reliance. With Wincanton, Reliance wants to fix the problem. Wincanton, the UK-based $4-billion supply chain solution provider, has been roped in precisely to tackle this problem. It is expected to completely take over the supply chain, find the right warehouses for goods and transport them in time and in the right quantity to Reliance Retail stores. Supply chain solution providers, Wincanton, for example, have IT systems in place to update them with regular data on inventory level in stores. So, even without a store manager calling up, the warehouse manager would know the stores’ requirements. Wincanton serves several companies across industries, from FMCG to retail, automotive and oil. Its client list includes retail giants Tesco and Woolworths, auto companies Ford and DaimlerChrysler, and consumer goods firms P&G, Nestle, SAB Miller and GSK. More and more we are seeing that Indian retail companies are not hesitating to go for alliances to bring the best of retail technology and processes to manage the operations.Posted byDeepak Sharmaat2:25 PM0comments Labels:Indian Retail,Reliance Retail,Supply Chain,Technology,WincantonIndian retail realty prices coolingHigh time... Indian retail realty prices cooling, says Reliance Indian retail real estate prices are softening and availability is rising as high interest rates crimp access to funds, slowing demand and forcing builders to sell, a senior Reliance Retail official said on Tuesday. Retail firms are scaling back their expansion plans, and builders who had planned to hold on to properties, are selling space to tide over the cash crunch, Bijou Kurien, chief executive of Reliance Retail's Lifestyle unit, told Reuters.Posted byDeepak Sharmaat4:01 PM0comments Labels:Indian Retail,RealtyAberdeen Research: Lifetime Customer Value Identified as a Key Motivator for Customer Loyalty in RetailFrom http://www.aberdeen.com/press/releases/press_release.asp?rid=341 Aberdeen data reveals that the top business pressure impacting loyalty-related decisions of 58% of Best-in-Class companies in retail is the need to develop lifetime customer value, which is defined as the present value of future cash flows through long-term customer relationships. “In times of stagnant growth, retailers need to develop lifetime customer value through improved customer retention, re-activation, and acquisition strategies. This will improve long-term stakeholder value and ensure an assured revenue stream for the retailer through customers who are expected to spend for several years,” says Sahir Anand, senior analyst and chief author of the customer loyalty benchmark report. Aberdeen data reveals that 93% of retailers execute loyalty programs as a standard offering for their web, store, or catalog channel customers. Such campaigns include, but are not limited to, point perks, rewards, coalition marketing, frequent buyer offers, or private label credit cards. The reports also indicated that lifetime customer value in retail is being overshadowed by the tactical nature of loyalty campaigns that target short-term demand. “Loyalty campaigns are executed without due consideration to ideal customer segments, tools, coordinated cross-channel marketing needs, and long-term customer relationships,” says Anand. The measurement of ROI on customer loyalty programs is a continuous action at retail headquarters. Moreover, determining such an ROI is a much simpler process compared to other retail solutions such as POS, merchandising or pricing. There are substantial and recurring cost factors associated with loyalty in retail. Survey results show that cost-benefit issues surrounding loyalty scenarios are top-of-mind for retail marketers. Repeat visit (61%), incremental sales (58%), and overall satisfaction (57%) have emerged as the three most significant factors used by retailers for justifying spend on loyalty elements, operational costs, and upgrade / deployment of loyalty software applications. All three ROI criteria can lead to sales uplift, retention improvement, and reduced attrition for retailers.Posted byDeepak Sharmaat7:00 PM0comments Labels:Loyalty,Research,RetailMobile Apps shaping the way customers are shoppingMobile technology will change the way Retailers interact with their customers, the way customers shop and the way they have options to move on if Retailers are not spot on. Check this iPhone application, called Checkout SmartShop - a shopping assistant meant to help you find online and local prices when you’re out and about shopping. The App lets you enter barcode on your iPhone (better would be scanning or taking pictures) and find out the price and availability of the product elsewhere, online and other stores. you get to see the user reviews and store locations also with the app.   . With Apple selling 1 million iPhone 3Gs over the first weekend, you can well imagine the impact, SmartShop kind of app can have on Retailers. Question to Retailers, Do you have your mobile strategy in place??Posted byDeepak Sharmaat5:36 AM5comments Labels:Mobile,Online,TechnologyThe Yin and Yang of RetailA very well written blog post on the relationship based on trust between Retailer and Vendors when it comes to shipping displays, running promotions and packaging. Why would I stop a vendor from shipping displays, running promotions and changing packaging? Because I don’t trust that they know what they’re doing. I’ve seen too many hastily designed displays, too many promotions that build up like expired plaque on my planogram, and too much packaging that shows how little they understand the value of real estate. From here, it’s a short leap to understand why I’d ask for “just hand me the check book” entitlement programs. Entitlements are insurance policies against vendor marketing failures. Pay me up-front. I expect you to fail. All this makes sense until a brand shows me that they understand what I do for a living and then proves it. Show me quantitative packaging and promotion research measured against your end users who shop in my stores. Show me how you’ll forecast it, ship it, sell it through, and then clean it up after it’s done. If you can do this, I’ll test anything you want because I’ll believe that you know what you’re doing and you won’t make a complete mess of the one thing I have that you don’t – my stores. http://note-to-cmo.blogspot.com/2008/07/yin-and-yang-of-retail.htmlPosted byDeepak Sharmaat10:25 AM2comments Labels:Retail,RetailersOlder PostsSubscribe to:Posts (Atom) google.load("annotations", "1", {"locale": "en_US"}); function initialize() { google.annotations.setApplicationId(34); google.annotations.createAll(); google.annotations.fetch(); } google.setOnLoadCallback(initialize); //Syndication  Other Resourcespromotional merchandisegps trackingBuild A Niche Store ReviewWalmart couponsQuickbooks POS SoftwareDon WatrosMVNOmemory stick data recoverycompany accountsRon BurkleBlogrollAbout Retail IndustryHeads-O-R(e)tailIndiaRetailBizReliance Retail IndiaRetail ContrarianRetail Design DivaThe Curious ShopperVariable MarkupBlog Archive▼ 2008(45)▼ September(1)Indian Retailer Sales per Sq Ft comparable to US R... ► August(7)(The customer is) Not Always RightRetailers 'Sell' to Young VirtuallyRetailspeak - Retail Magazine from MicrosoftMotorola SparrowWincanton to manage Reliance Retail's Supply Chain...Indian retail realty prices coolingAberdeen Research: Lifetime Customer Value Identif... ► July(5)Mobile Apps shaping the way customers are shopping...The Yin and Yang of RetailObsessive Compulsive Disorder and RetailTracking Offline ConversionsSTORES Top 100 Retailers ► June(2)Multi-Channel Customers Spend More, Less LoyalRetailers and Mobile Technology ► May(10)2008 FMI Show Session HandoutsIce-Cream Social, Courtesy Wal-MartResearch: How Consumers Actually Shop For Retail P...Wal-Mart Launches Online Resource Guide to Save Mo...Understanding the Indian Retail Customer—in Bits a...Retail Technology ReviewGrocery Game - Retail Insights and you have a winn...Stimulating Retailers or Self, that is the questio...Men ignore price tags as a show of virilityFutureBazaar's aggressive Future Plans ► March(6)Conversion rate analytics to Retailer's rescueBiometric Payments and Data PrivacyHypermart, the next big thing in Indian RetailPanel on Organized Retail in IndiaIBM & Microsoft to partner on POSLive Chat Conversion Rates ► February(4)PPM enables Single View of Product DataBuzz areas in Indian RetailRFID based Smart Visual MerchandisingOnline Planograms and Web 2.0 technologies ► January(10)Service Levels of Leading Retail web sitesNew Interesting Retail Blogs, Part 3Enforcing RFIDImmersive RetailingEnriching consumer experience using 2D BarcodesIBM Retail Integration FrameworkCollaborative LogisticsWal-Mart's new slogan a winnerIT in Indian RetailOne Truth for all - Retailers, Suppliers and Carri... ► 2007(79) ► December(15)Retail Weekly Roundup 5Reliance Retail's RFID PlansTechnology helping RetailersTale of two RetailersIndian Retail - RFID Offerings from HP ► November(17) ► October(8) ► September(6) ► August(9) ► July(5) ► June(16) ► May(3) ► 2005(36) ► December(5) ► November(8) ► October(3) ► September(1) ► July(7) ► June(7) ► May(5)Tag Cloud// Don't change anything past this point -----------------// Cloud function s() ripped from del.icio.usfunction s(a,b,i,x){ if(a>b){ var m=(a-b)/Math.log(x),v=a-Math.floor(Math.log(i)*m) } else{ var m=(b-a)/Math.log(x),v=Math.floor(Math.log(i)*m+a) } return v }var c=[];var labelCount = new Array(); 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While not dabbling in Technology, Deepak is found doing Program Management.  DisclaimerThe information in this weblog is provided "AS IS" with no warranties, and confers no rights. This weblog does not represent the thoughts, intentions, plans or strategies of my employer. It is solely my opinion. Inappropriate comments will be deleted at the authors discretion./* */Copyright 2007 Deepak Sharma. All rights reserved. Design by NodeThirtyThree. _uacct = "UA-57767-1";urchinTracker();var sc_project=711408; var sc_invisible=0; var sc_partition=5; var sc_security="f8002057"; |
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