Retail Strategy & Growth Expertise
At Foley Retail Consulting we have found that many clients have grown so quickly over the past five years that retail basics have had minimum attention. We therefore carry out a thorough analysis into the key reasons why a particular retail business is in its current state of success or lack of such. When these reasons are clearly identified, a customised retail growth strategy can be developed to maximise the potential of the business and strengthen the fundaments on which profitable growth can occur.
Understanding of growth
For many retail businesses the most sought after goal is growth.
And to most retailers, pursuing a growth strategy means expansion, more stores, more products, or more ideas. This is, of course, key to building up a large successful organisation and should therefore be carefully planned.
It has been the experience of Foley Retail Consulting that with regard to management of human and financial resources many retailers overlook the importance of these two areas with disastrous consequences!
Here are two examples:
– If your business loses a key person at the wrong time or rapid expansion and consequently rapid hiring of staff weakens performance ratios, the company as a whole suffers dramatically.
– Many retailers have found rapid expansion very expensive and not always an immediate repetition of existing business results, this can quickly translate into a cash flow problem.
All these problems can be avoided with experienced planning. At Foley Retail Consulting we can help and advise on avoiding these pitfalls.
Hidden growth potential
Growth does not always have to come in such visible form as more stores or products. If your retail strategy is improved, existing stores can be nurtured into impressive growth.
As retail advisors, we at Foley Retail Consulting have learned from experience that this improvement in retail strategy is where hidden retail growth lies. It often can be achieved with little or no extra cost and therefore provides instant profits making classical expansion more affordable!
Read more about our retail growth expertise in our retail insights:
Expansion strategy – specialist supermarket UK
Retail failures are mostly about poor concepts rather than just poor execution. Trying to execute a poor or out-dated concept normally just consumes huge amounts of money!