THE BACKGROUND & CHALLENGE
An independent Menswear chain of 5 shops had enjoyed good 4 % to 6% annual growth over a period of 2 years but needed enhanced visibility of performance and the adoption of a structured approach to buying to sustain growth and support the opening of new stores.
- The analysis of sales by store by to clearly identify customer tastes
- The review of sales by month to establish sales trends in what is a highly seasonal sector (ie Menswear )
- Branding sales and profit performance by brand
- A space review by brand by store.
- Line by line analysis – to show key drivers & pricing skews.
- The construction of a trading review pack to be used by store and buying personnel
- Resultant sales plans by store related directly to space return , brand skew and therefore customer tastes
- Sales and buying plans according to best/ worst performing brands/ product types – ensuring markdowns are minimised and availability is maintained on core .
- A monthly space plan reflecting sesonal product trends
- Regular review of sales vs plan at store and product group level as well as stock levels and weeks cover
- The incorporation of store managers into the planning process and performance reviews.