Thursday 17 January 2013

'Queen's corner shop' Fortnum & Mason celebrates best Christmas in its history

Amidst the ‘doom & gloom’, a glimmer of hope in Piccadilly retail, at least…

Those of you still working your way through your £5,000 Fortnum’s Imperial hamper (a sell-out selection of carefully packed Beluga caviar, foie gras truffles, cognac butter, a magnum of champagne 2002 and a bottle of 30-year-old whisky) will be pleased to know that your purchases helped grow sales by 17% in December, with online increases of 45%...

See, it can be done…!
Simply follow the rules of good shop-keeping:
  • Location, location, location, (ideally with a 305 year tenure...)
  • An appropriate offering (need we say more?)
  • Focused on the right target consumer (‘know who we mean, nudge, nudge’? )
  • Price leadership (meaning hi-hi, none of that EDLP nonsense)
  • Space (utilisation & merchandising, the ultimate in morning-suited discretion)
  • Supply Chain (rotation, accuracy, a £3m investment in new warehousing and delivery systems to avoid last year’s hamper issues…)
  • Private label (differentiation & profit) Think Generation 6, or even 7, i.e. far in excess of ‘national brands’….
…and then the ROCE takes care of itself, and need not be mentioned…

More here

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