REVIEW: TURNING POINT LIVE! 2019
“Those who innovate and collaborate will thrive”
Chris Buecker, Founder and Chairman of the TCG Summit and CEO of RetailPlus, used this year’s Turning Point Live! to offer some advice on how electrical retailers can stay ahead of the game and thrive in an increasingly online retail landscape.
24
A
multi-channel, collaborative, creative approach
with a strong focus on customer service and in-depth product knowledge and expertise are what’s needed if independent electrical retailers are to beat the big online players and ‘sheds’ – this was the key takeaway from retail expert, Chris Buecker, who fl ew in from Switzerland to share his extensive experience and put forward his tips for successful retailing now and in the future. “You have to position yourself as a local specialist and you need a professional store format,” he said. “Mama and Papa stores – the smaller, more old-fashioned stores – are not the future.” He said that successful independents have a “clear, distinguishable business proposition”.
Less is more “Remember, less is more, so choose your products carefully and don’t have too much on display. Focus on medium to premium-end products and don’t fall into the trap of trying to be the cheapest.” Mr Buecker added that an online presence is also critical – for a whopping 86 per cent of consumers across Europe, the retail journey begins with an online search. Little more than a tenth of purchases are made through store visits alone, he said.
Investment in people and staff training were also highlighted as fundamental. “If you see [your workers] are good at what they do, trust them and give them responsibility. This all promotes staff retention, allowing you to build a highly skilled workforce that is also more trusted by the consumer.”
Collaboration
Mr Buecker said that successful collaborations between retailers and suppliers focus not solely on the sale but on giving the customer advice and educating them on the product.
“Collaborations often go wrong because the retailer and supplier have different aims. You have to have the right tools to start a partnership and be prepared for it to
take time. You have to be prepared to work intensely with your partner suppliers.”
He added that those who can build a good reputation,
with strong product knowledge and expertise and a strong and clear brand identity are more likely to excel. “For example, a retailer in Switzerland styles himself in a white lab coat like a technician might wear. The branding reads ‘Mr Fast’ and the payoff is ‘And it makes it work’. So they are living and inhabiting the brand and they are very knowledgeable; if you buy something at their store and you have a problem, they fi x it, if you buy something you need to have installed or whatever, they do it for you. It’s a clear and distinguishable business proposition.”
Be disruptive
Mr Buecker also noted that most retailers he has encountered fall into one of two camps – either specialised or full assortment stores with a variation of products. In either case, strong customer service, product knowledge and training are key, as noted above, but also offering an enjoyable or unique shopping experience, so that it’s not only about the purchase but the whole package. He offered the format of Apple’s stores as an example, and a US company called Beta, which sells motorcycles, but uses a similar method. “Beta has reinvented, or disrupted, the concept of the classical retail store. There is a showroom, but the supplier runs the show – alongside the products are tablets with all the information customers need. All this can be changed by the supplier from one second to another, so the retailer doesn’t have any infl uence over that. Likewise, they also
And the award goes to…
Following the Turning Point Live! conference, in the afternoon the ERT Awards 2019 took place. Hosted this year by BBC News presenter, Ros Atkins (pictured above), and with the re- introduction of several manufacturer categories, the Awards highlighted some of the best electrical retailers and suppliers from across the industry. Over the page, you can read more about all of this year’s winners!
don’t need to hold any stock as deliveries come straight from the supplier. “It’s a very interesting concept – I saw it myself in
California – it’s obviously a very hands-off approach and it wouldn’t work everywhere, but it’s very disruptive and it certainly makes you think about the future of retail models in the UK.”
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60
