Investing in the Future.

Chief Executive of SPAR International, Dr Gordon Ramsey, gave us an interesting insight into the vision of Europe's most popular convenient store. He stated that in changing times, it is essential that retailers keep to their values but perhaps reinvent their model and strategy. 

Showing inspirational examples of flagship stores such as this one in Dublin, Ramsey discussed how they are implementing new ideas into flagships (as far away as China, India and Zimbabwe to name a few) and then filtering these down into existing stores globally. 

Beating the consumer downturn.

The conference proceedings began with some opening remarks from Chair, Declan Curry (of BBC 'Working Lunch' fame) regarding the intentions of this year's conference. Then Justin King - CE of Sainsbury's (who last night won Retail Leader of the Year award at the Oracle Retail Week Awards) - took to the stage. 

Some interesting points about how Sainsbury's DNA is evident in all of their advertising, past and present. Their core ethics still represent those of the brand in it's beginnings 140 years ago.

• Their customer seeks "Value without compromise" and Justin feels it is necessary to speak to their customers in a language that they understand whilst continuing to innovate the product they offer. Particularly in times of economic crisis. 
• The sign above their 1969 Dury Lane store read "Quality Perfect. Prices Lower" and they try to continue these values today whilst remaining ethically and environmentally responsible.
• The key message was that retailers need to stick to their values and not lose sight of what their customer's expectations are.

A panel discussion followed featuring Justin King, John Lovering (Chairman of Debenhams) and Phil Wrigley (Executive Chairman of New Look). Many interesting points came out of the discussion.

• Offering value is not a short term solutions.
• It was suggested that perhaps the majority of businesses who have collapsed over the last 10 years had a view to serve yesterday's customer. 
• With it being "25%" more expensive today for British retailers buying from suppliers and with the strength of the Euro, New Look have intentions to expand globally. 
  
• Retailers aiming to survive the recession must "Kill or be killed".
• The encouragement of staff through leadership and enthusiasm is vital in order to retain a vision of the future for your company. 

Retail Week Conference '09

It has been a hectic couple of days. I flew down to London on Tuesday morning and went to visit some fabulous retail consultancies. Then on Wednesday and Thursday I was given the fantastic opportunity to help out at the annual Retail Week Conference featuring some of the biggest names in the industry.

I learned so much from the experience I shall have to write all about it over different posts so bear with me. Thanks to Jo and Stuart at Emap who allowed me to become part of the team for 2 days!