PROMPT I business strategies
leading underperforming businesses to growth

Retail
Looking ahead from here
Where did all the shops go?
Retail is getting complicated. It is no longer a case of simply stocking shelves with desirable goods and waiting for shoppers to flock through the doors. Rapid developments in technology are changing the game, CoVid-19 has accelerated the speed of change.
The collapse of Arcadia Group with its best-known brands TopShop, Burton and Dorothy Perkins, highlights the challenge the UK High Street is facing as CoVid drives a rapid change in consumer buying habits towards buying on-line.
Supply Chain
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Trend from off-shoring to on-shoring
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Shortening and simplifying supply chains to reduce inventory, lead-times, enabling quicker reaction to changing product demand.
Logistics
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Drive to increase flexibility in 3PL contracts
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Key to optimize consumer delivery through partnering, charging for delivery timing
Channels to market
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The multichannel routes to market increase inventory levels across DC’s sores
Head office
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Key to accurate forecasting to provide rapid response to changing consumer buying patterns, trends driven by social media
Inventory
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Effective ways to clear slow / obsolete/ returned stock
Returns
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Consumers expect free returns, often buying online multiples of the same item (clothing) in different sizes and colours knowing a high percentage will be returned.
Omnichannel Retail
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Black Friday, has evolved into week-long promotions
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Savvy customers are refining the delivery
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Customers are shopping late and bringing the fitting room home
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Free returns are driving extra online purchases, but increasing overall logistic costs.
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The key is improving the end-to-end experience whilst balancing the economic performance.
Key Trends:
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Discounting / Black Friday
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Focus on Customer Experience
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Consumer choice
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Tracking systems
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Consumer experience
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Simplifying offerings
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Increase use of parcel allocation systems
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Intelligent customers ( will search to find a good deal)
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Box size increasing
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Omnichannel retail
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Parcel providers, as important as “3PL logistic providers”
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End consumer communication, scheduling and tracking.