It is that exciting time of year again, to begin judging the entrants for the 2022 VMRD Retail Design Awards. From experience as an awards presenter, I know that the ceremony itself is a great spectacle and a place of high excitement and emotion. These awards mean a lot in the retail industry in Asia and beyond. It is quite an accolade. However I have to say that I also-
Tim Radley:“Re-commerce & the Circular Economy”The World Consumer Goods & Retail Forum 2022 23rd – 24th June 2022Amsterdam, Netherlands The re-commerce model, also known as the circular economy, has become an important strategy for many retail verticals, especially as physical retail continues to lose its footing. But it’s not without its challenges.In this session, Tim Radley will explore how the disruptors are seeing success and the common pitfalls to avoid-
Remake – circularity for the beauty of fabric Let me introduce Remake to all you fashion followers. This brand lacks nothing in innovation and creativity but has an extraordinary backstory. Remake STHLM started in 2002. It designs and produces fashion that is sustainable for both people and the environment. The materials they use come from gifts donated to the Stockholm City Mission. All of the creations are one-off. They are-
Supply Chain Partners: In the same boat together The relationship with suppliers has never been so important. The COVID lockdown exposed the dangers of weak supplier integration, whilst the move to remote digital communications highlighted the opportunities for technology applications across new supply chains. Trust between some suppliers and retailers hit an all-time low as orders were cancelled and payments frozen. The repercussions of such actions will set back the-
The Product Assortment. ‘The Crowning of the King’ ‘The Product is King’ or so the old-adage goes. It seems strange to doubt this statement. After all, retail is the process of bringing the product and the customer together. Product is still at the heart of retail, of course, but its role as ‘absolute king’ is changing. Whilst in some businesses it is still everything, in others it is just a-
Lifecycles with the customer The retail industry’s awareness and considerations about the product lifecycle must now be extended forwards to the customer purchase, their relationship with the product, and its disposal. The retail lifecycle must evolve into the product lifecycle. Changes in retailer mentality The solution is to make more use, and more uses, of what the customer buys. To turn away from the throwaway, to embrace and enjoy possessions.-
From ‘Economies of Scale’ to ‘Scale of Economies!’ The principle behind making money from ‘economies of scale’ is to produce high volumes of products, which reduces the individual unit cost. The more you make and the more you sell the greater the margin and the greater the profit. ‘Economies of scale’ profit is made in the buying process. The principle behind making money from ‘scale of economies’ is to generate-
Zara: moving stylishly from linear to lateral processes Linear processes push product through the system and into shops. They make money from buying & supply efficiency. Lateral processes consider at every stage the qualitative attributes of the product. They enhance and add-value to the assortment. They make money from selling. From selling more, and selling better. Zara at its inception, disrupted the balance of linear and lateral processes in its-
The Evolution of Inventory Agile retail businesses are shifting the supply chain to support a major strategic and operational focus on new inventories. The traditional approach of producing an inventory which is then sold, as much as is possible, is being transformed into an approach where a partly, or fully, virtual inventory is showcased as much as possible, and then produced to order. The enablers of the new processes are-
How to be an essential retailer Every retailer must now be essential, supporting the emotional lifestyle and well-being of the customer, as well as simply supplying products.‘Meaning in the Retail Madness’ explains how touchpoints have replaced channels, how linear supply chains will become circular, why assortments are increasingly virtual, how physical is turning to local, and why products and shops are not necessarily made for each other anymore.It supplies a-
