Voice of the by Tom Meyerratken, Managing Director Carl Kammerling International Ltd
Marks & Spencer recently reported a 12.9% increase in profits despite the current difficult economic conditions. So what is its secret? Marc Bolland, the new chief executive said that there were signs “customers are trading up” and "looking for quality" again. In the last year M&S has grown its share of the food and clothing market supported by hard-hitting advertising. It is now looking for further improvements in sales by testing new store formats that will be more tailored to their location .
In other words it has invested in new products and ranges, recognising that people no longer want cheap, they want value for money; it has learnt that it's no good doing these things without telling consumers that what you've got is good and finally they understand that people are not the same everywhere, they want products that suit them, not some uniform clone.
We can learn lessons from Marks & Spencers’ success and thrive in today’s increasingly difficult markets:
• Firstly tradesmen want value (no surprise there!), but for tools they use every day they are willing to spend more on high quality product that they can rely on; in our industry this translates into high-quality brands like C.K , designed for professionals, with a brand reputation to match.
• Secondly our customers want innovation, particularly in line with new technologies and trends in their industry; yes, the tradesmen can be conservative, but they do want new things and particularly in a downturn the retailer needs to offer some excitement. At Carl Kammerling International we have invested heavily over the years in innovation, with a panel of over 195 tradespeople from different trades and different parts of the country helping us to bring to the market new, exciting and relevant products.
• Thirdly people want style and increasingly so at work; not only do people want to look and feel good they need to be seen to be professional. The latest example of this trend is the recent launch of ‘C.K Magma’, a range of premium fabric storage and PPE that builds upon style changes in workwear. The C.K Magma range combines optimal functionality with creative style to deliver a range of eye-catching, premium quality products that are truly smarter by design.
• Lastly, we live in a busy world and you have to shout to get noticed. To help drive sales for our stockists, the C.K Magma range is supported by a full complement of eye catching and stylish merchandising and point of sale material enabling stockists to get maximum benefit from this exceptionally innovative product breakthrough. C.K Magma does the shouting for you, providing you with easy to shop, exciting in-store displays that encourage self-selection and impulse purchases.
To succeed like Marks & Spencer; don't be afraid to embrace new products or ranges that appeal to your customers; partner with suppliers that invest in innovation that helps keep your business fresh; support manufacturers that deliver value for money – as my grandfather used to say "recollection of quality remains long after the price is forgotten".
6 ToolBUSINESS+HIRE
www.toolbusiness.co.uk
Industry
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