During the economic downturn non-food retailers have experienced a particularly difficult trading climate. A number of High Street brands have gone into administration. Many other companies have either been sold on to new owners or have been re-structured.
For the remaining stores the squeeze on discretionary income has put pressure on sales and has eroded margins.
Despite casualties in sectors such as footwear, entertainment, DIY and books what has been surprising has been the resilience of some store concepts, such as department stores and clothing chains, many of which have grown steadily throughout the course of the recession.
In the past the use of location-based analytics in the majority of the non-food sector has been relatively limited, but there are encouraging signs that a more scientific approach to retailing is emerging.
Better planning using location-based analysis underpins the new reality:
In addition, the social media, mobile applications and innovative methods of customer profiling are all supporting store sales.
Despite the economic climate a number of new store formats have emerged over the last five years, demonstrating that sound analysis, complete mastery of store costs and clear propositions can still generate profits.
Contact us to find out about a more scientific approach to retailing.
