1. What is retail, what is strategy? How does one decide on their retail strategy and where do you begin with the plan? We will set the foundation of this masterclass by clarifying the supply chain, the value chain, the distribution channel and where retailers fit in the big picture. What value does a retailer add and how can a retailer compete for customer loyalty? We will also discuss innovative cases from the real world.
a. What is a retail strategy and what are the different parts of the plan
b. Where do retailers fit in the big picture of the supply chain/distribution channel and value chain
c. How do you decide your retail strategies
d. The positioning map and your strategic group
e. Types of products/ services and how they help determine your plan
After the break we will spend the first 30 minutes on the following:
- Zooming in: Case discussion and task brief
This part will address multi channels versus omni channels and why retailers are increasingly moving towards this.
a. How to create a competitive edge as a retailer
b. Retailer types and their strategies
c. Centralised versus decentralised channels
d. Innovative forms of retail
e. Innovative models from Dubai and the rest of the world
This is a practical part where students start to build a retail strategies with close guidance we will then discuss those plans and suggest improvements.
a. Elements of the retail plan
b. What is a mood board
c. What are the trade offs of various decisions
a. Segmentation targeting and positioning
b. How do you decide your target segment?
c. The impact of target customer choice on retail strategy
d. In depth discussion on existing brands and their current strategies
This section will address how retailers can create customer loyalty, how to measure the value of a customer and how to design and implement an effective loyalty scheme.
- Customer relationship management
- Tools and technique for assessing your customers
- Collecting and analysing data
- Classifying your customers
- Creating and implementing a loyalty/reward scheme
The first 30 minutes of the session Zooming in: (case study discussion on a successful example of CRM) This will be followed by reflection on what customers look for in a retailer, and how to win the hearts and minds of customers today.
This part of the session will address all the sensory elements that are factored in a store design and how they can be used in harmony with the retail strategy and target customer choice in order to build an emotional connection with the brand
a. What sensory elements and how to decide on which one
b. Psychological factors
c. Online environment and customer engagement
d. Creativity, innovation and new technology in store design
The first 30 minutes will be a quick show casing of student’s retailer ideas and their mood boards
Here we will address the three main types of layout strategies and their impact on customer loyalty and retailer success
a. An introduction to the three store layout strategies
b. The link between layout and retailer type
c. The link between the layout and product type
d. Layout strategy and customer loyalty
e. The decisions variables in store layout decisions
Standard Fee – AED 3000
Fee includes – course material, certificate of participation, breakfast/ lunch and refreshments.