The Approach
Analysed global sales by market, customer, product portfolio and supplier base to gain a better understanding of the company. Meetings took place with teams across the business to review processes for product development (private label), product selection (branded products) and licensed brands. Pricing, margins, quality control and suppliers were reviewed. Marketing, customer service and sales (inflight and airports) were explored.
Targeted customer focus offer
Sales analysis confirmed that top 20% of products and customers drove 80% of sales, typical Pareto analysis. A focused product strategy was needed that allowed flexibility to develop bespoke product ranges for VIP customers; balancing sales, stock and improving CRM. This strategy complemented the branded, private label and licensed products the company sold.
Defined buying process and strategy
Working with the buying team, it was established that products were developed year-round. A clearly defined, buying process built to support key sales periods at industry events needed to be created, supported by more stringent product reviews and improved sales forecasts.
Structured quality control process
Working with the operations team, it was identified that a structured quality control process with KPI’s built in to measure and manage the supplier base needed to be developed.
Intergrated marketing strategy
Marketing was sales focused, an integrated holistic marketing strategy to drive brand awareness, credibility and sales across their branded, licensed and private label products was required.
The results
Janet developed a global buying strategy for this travel retailer with the following processes and recommendations built into the strategy. She created a clearly defined bi-annual buying cycle aligned to key sales periods at industry events; injecting newness and increasing speed to market.
She designed a structured quality control process, incorporating green seal and gold seal samples as check points; providing agility and flexibility to respond to opportunities whilst minimising disruption to the day-to-day business.
She made recommendations for them to develop and maintain a tight product range, providing them with flexibility to develop bespoke product ranges for VIP customers supported by an integrated marketing strategy with consideration for their CRM, to be validated in advance by sales forecasts.
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