Re-inventing a retail experience can be one of the most energizing and transformational corporate experiences. When done properly, it can lead to years of sustained growth. Misguided efforts can push retailers to the edge of a cliff.

JC Penney’s well-publicized store remodel and re-branding led to the alienation of their core customer and more than doubled their operating losses. RadioShack’s continued re-branding and store iterations caused them to lose their way with their loyal following: the “do it yourself” customer.

Grounding everything in strategy.

Retail reinvention reflects core strategy and is the “heart” of retail. We help our clients clarify strategy; reflect that in retail space design; and then assist or manage the build out, validation and scale-up stages of the process. And, like good carpenters, measuring maniacally all the while.

Our work on retail reinvention starts with company strategy and direction. As such, our retail format work builds on a deep analysis of relevant industry, category and consumer trends. We gather input from employees that work with customers every day. This strong handle on the macro-environment leads to strategy and category participation decisions that will anchor an omni-channel retail strategy.

Designing the desired consumer experience.

Only after we have clarity of industry direction and alignment on corporate strategy and customer needs can we move forward to discuss the expected consumer experience. We will pull in corporate and store employees to discuss the experience, as well as the retail space design that will deliver this experience.

From this point on, we leverage our decades of operating experience defining and launching retail spaces, from the smallest categories to full store formats. To this effort, we bring a range of expertise, including:

• Space design
• Visual merchandising
• Vendor negotiations
• Labor planning/staffing
• Overall financial planning

Turning design into reality.

With a fully vetted physical or omni-channel design in place, we work to turn the design into reality:

• Managing space build outs
• Negotiating with suppliers
• Creating marketing plans
• Staffing
• Training
• Crafting operating plans

We focus all of our efforts on getting initial test stores up and operational. Once live, a rigorous learning cycle leads to fast revisions as we first drive customer satisfaction and then the many byproduct metrics, including overall P&L, return on capital, space, labor, and inventory metrics. Once proven, the new retail experience can scale to select markets and then expand nationally.

Consumers view the smartphone as a remote control for their lives. As a result, the complexities and consumer expectations facing retail are growing, as the information and convenience consumers can gain from familiar online players can eliminate the requirement for a live bricks-and-mortar experience. But soon, the mobile phone will eclipse online shopping, creating opportunities for bricks and mortar to integrate the customer’s mobile presence into the holistic shopping experience. Retailers that want to remain competitive in the marketplace must embrace the interconnectivity between the mobile device and the in-person and online shopping experiences.

Incorporating omni-channel opportunities for bricks-and-mortar retailers.

Our team at Sprosty Network can help retailers with completely separate and disjointed business units find ways to leverage the multiple touchpoint advantage. Our leaders have been working at the intersection of mobile and retail for decades. Through our work with a number of partners, we have learned how to:

• Identify unmet consumer needs to create a frictionless experience
• Better integrate a retailer’s online and bricks-and-mortar experiences
• Create numerous location-based service alternatives
• Expedite checkout

 

Using the mobile phone to improve the customer experience.

When done right, the mobile phone can bring to life information on a product that a customer saw in a retail store. We can help you identify the best way to create an “endless aisle” experience for your customers, delivering related product information to customers on demand and on location. This improved customer experience will help grow your brand and your business.

Sprosty stands up retail tech enabler labs including with supporting governance, pitch days, top of funnel and vetting process, which culminates numerous new tech enablers to enhance the customer experience. Our clients are able to run a live and operating lab demo experience centers and vetting process, with a strong IoT funnel.

Technology has come a long way in materially simplifying the customer experience in retailing, both online and in-store. Sprosty has used our “Double Diamond” process to identify pain points, and designed processes and business requirements for development and scaling of frictionless customer experiences. Our access to a broad swath of tech enabling companies matches the right companies to the needs of our clients.

Sprosty has developed RFP’s for numerous Fortune 100’s in the technology arena, from vetting new growth tech growth categories, to technology providers to improve the experience.

Our comprehensive market maker negotiation playbook sets up win/win partnerships between early stage companies and channel payers with full sections on tradeoffs, equity scenarios, and key negotiating factors.

You are finally ready to launch your new product at retail. Exhilarating! To do so and win, however, requires that you have everything in place, from consumer validation to reverse logistics. You need a partner that can help design an industry-wide launch plan, support each retailer in the plan and manage the ongoing business.

The team at Sprosty Network has led product companies and, as merchants, has built multi-billion-dollar retail categories. Having “been there and done that” in every relevant role, we are ready to help you scale your business, avoiding many pitfalls along the way. Here are just some of the specific services we provide.

 

Channel Strategy Development

• Customer identification and mapping to retail B2B and B2B2C channels
• Omni-channel launch strategies
• New brand vs. OEM vs. private-label partnership options

Business Analytics

• Industry and category trends and dynamics
• Product positioning and competitive analysis
• Proprietary emerging category analysis

Sales Management and Channel Launch

• Retail contact and introductions consistent with channel strategy
• Sales and product portfolio presentations; positioning unique to retailer assortment goals
• Retail onboarding; contract and financial negotiations

Logistical Planning and Development

• Retail inventory, supply chain integration and CPFR (collaborative planning, forecasting and replenishment) support
• Transportation, warehousing, and distribution strategy and partnerships
• Reverse logistics and post-sales support

Retailer Program Management

• Merchant team account management and weekly/monthly/yearly business rhythm ownership
• Collaborative category and portfolio planning
• Marketing and merchandising program development by channel and vehicle