A real-world dip for bankers?

Some speakers at a recent BSA (Building Societies Assoc.) Conference in Birmingham raised the issue that the grocery multiples might not fail in treating financial services like selling groceries…

Perhaps the delegates might consider what financial services innovation the grocery multiples can offer the banking sector:

• Ability to assess and underwrite a shopper’s insurance risk and price based on goods (alcohol, tobacco, health food, medicine) in a shopping basket, whether it be for a mortgage or an unsecured loan.
• Staffing coverage matched to customer need i.e. lunch-hours
• Customer focus reflected in the offering i.e. selling what customers need
• ‘Shopping-around’ acknowledged as a customer driver i.e. making comparison easier, with price-comparison web sites to ensure the retailers never forget…
• Ability to learn from their ‘mistakes’ and re-engineer the offering, fast (think global financial crisis, trust, risk, performance-based-reward,…..)
• Above all, trust and an abiding interest in the consumer-shopper, from womb to tomb (and perhaps a little afterwards?)

Any banks that still think Tesco/Asda/JS/Morrisons and the Co-op are about grocery retailing need to remove the blinkers and spare a couple of hours ‘shopping around’ the 24/7 ‘grocery’ environment and think grocery banking…

By lunchbreak (!), it may be obvious that in fact, all the banks need is a 180 degree turn, coupled with cultural re-bore and a 100% makeover to even think about remaining in the financial services game…

Focus on optimising Administration

Today’s news that Focus are going into administration coupled with latest downbeat reports from retailers including Mothercare, HMV, Currys and PC World parent Dixons Retail are indicative of the current pressure on retailers in the UK. In addition, other research revealed that more than 8,000 UK retailers were apparently in danger of going under in March.

Despite the fact that confronting ‘doom and gloom’ may be seen as demotivating, we sincerely believe that in the current climate, the NAM/KAM role in 2011 is about being able to face up to and optimise reality, failing which someone will do it on their behalf.

It is about being able to perform as well as, or better than, equivalent companies in the marketplace, whatever the circumstances…

Having to manage customers in a bankrupt environment is not only unprecedented, but it should be borne in mind that operating under these conditions through the remainder of 2011 can provide the equivalent of twenty years of highly concentrated business experience for those prepared to take up the challenge.

In other words, if you can make it in this environment, nothing, repeat nothing, will ever be more challenging….or satisfying.

For more details on how to spot and manage a retailer in distress contact us (free editorial and tips)

Coping with Buyer-stress?

News of a trademark dispute* where rival wine sellers targeting stressed out mothers with Mommyjuice wine, raises the possibility of producing an alcoholic respite specially for KAMs.

Could “KAMjuice” be your way of dealing with the rigors of JBP negotiation, a deserving treat when KPIs are achieved, and even a consolation when buyer intransigence takes the edge off an already-budgeted bonus?

Have a memorably long royal weekend, from the Namnews Team!

Easter instore theatre, incremental ceiling space,bigtime!

UK instore theatre can be pretty efficient but not as exciting as French retail.

However when 20+ years of French retail is mixed with South American flamboyance, Brazil beats the lot.

Pic shows how I have seen Easter eggs promoted in Sao Paulo...

Eachway Bank robbery trends?

New statistics from the US indicate that third party robbery of banks takes place most often on Fridays mid-morning, presumably in readiness for weekend expenditure?

It would be helpful if similar statistics were provided for the UK, to complement consumer perception that banks here tend to rob their customers on a continuous stealth-basis via borrowing/deposit rate disparities…

Have a calculated weekend from the Namnews Team!

Life after retail?

For those leaving a high-powered role at the top of their game in retail, and too young to retire..

Perhaps they should try a more leisurely job with the train-set at National Rail?

Or stick to the platform in future?

Have a high-speed weekend, from the Namnews team!

Lloydspharmacy adds online doctor services with acquisition of DrThom

News that Lloydspharmacy have introduced medical services is simply another indicator that all providers of goods and services are vulnerable to loss of business to retailers unless they raise the level of specialist service to a point in excess of what could be provided by a retail chain, be they H&B or ‘Grocery’.

It is worth keeping in mind that as mass retailers become more space-efficient, they will systematically assess all categories in their search to optimise all contacts with consumers by ‘selling anything that can be legally sold to shoppers…’

And no government will allow protective barriers to stand in their way, in the search for efficiency in the use of public funds.

Tesco’s New Music ‘on consignment’ Business Model

Tesco’s decision to push music companies to accept minimal upfront payments is much more than a ‘take it or leave it’ offer.

Instead of paying £7 or £8 upfront for a typical album, Tesco wants to pay just 50p initially, with the remainder handed over when it sells the disc.

Given the falling demand for CD & DVD media, the move represents a way of optimising the final stages of an era as online replaces all other delivery media.

Incidentally, full consignment would mean no upfront payment leaving suppliers to worry about the gap between an invoice based upon scanned sales and the quantity delivered to the retailer ( i.e. supplier absorbs the shrinkage).

Real issue for other categories is what if retailers decide to adapt the model to all categories, thereby reflecting the true nature of what the retail route-to-consumer has become….!

P.S. Always wanted an excuse to put Elvis into Kamblog...