Retail Consulting | Retail mRP

mRP:Milagrow Retail Practice - Our unique partnering model for Retailers and eTailers

Retail Strategy & Planning 

Strategy for arriving at a retail concept, format considering all the variables viz

  • Selecting the Legal Structure
  • Deciding the Merchandise Mix or Range
  • Writing a Business Plan
  • Location Strategy & Site Selection
  • Sourcing Products
  • Developing Store Policies & Processes
  • Store Atmospherics & Design Decisions
  • Marketing & Advertising 

Category Merchandise & Management

Managing categories as strategic business units by focusing on delivering consumer value, the management of brands or products as a category with the objective of producing enhanced business results.

This includes sales, promotions, pricing, shelf visibility, product affinity & adjacencies creating & analyzing merchandise plans
Planogramming : Strategies on display plans for product categories through schematic diagrams, shelf roles, drawing for volume or margin maximization till SKUs level. 

Organization Structure & Readiness

Comprehending and analyzing competencies required in an organization. Analyzing and bridging need gaps for talent by setting up of reporting procedures, job description and job specification for every individual working in the retail outfit 

Store Design & Visual Merchandising

Planning the store layouts, atmospherics & merchandise displays; to manage the trade offs between consumer conveniences and space productivity. This would include  

  •        Floor Plans
  •        Shelving
  •        Lighting
  •        Furniture & Fixtures plans
  •        Sitting Area Planning
  •        Storage Designs
  •        Merchandise Presentation Techniques
  •        Circulation Plans
  •        Music
  •        Visual Merchandise Stories
  •        Window & In Store Displays

Retail Processes, Operations & Training Systems

Operations and Processes pertaining to :

  • Allocating Resources
  • Internal Controls & Systems
  • Establishing Retailing functions
  • Cash Handling
  • Replenishment of Inventory
  • Housekeeping
  • Security
  • Standard Operating Procedures
  • Customer Handling
  • Queue Busting and Management
  • Merchandise Upkeep
  • Shrinkage Control
  • Executing the SOPs

Inculcating the competencies required for each stream in Retail store operations, developing training calendars for functional teams. Defining the frequency and scope of training programs for strategy level & execution level teams  

Brand Strategy & Store as Media.

Establishing and improving a brand's identity, including giving the brand a set of values that the consumer wants, recognizes, identifies with, and trusts. 

Measuring  the strength of the retail brand by examining the extent of consumer loyalty, and their willingness to pay a premium to shop there.

Retail Brand Building in order to build a  long-term commitment from customers, and driving conversion opportunities among non-customers.

Customer Relationship Management & Loyalty Programs

Creating strategic advantage for the retailer through customer service via all the touch points in a retail store taking key in-store activities like selling , merchandising and collateral and using them to give the customer the best possible experience that leads to a sale.

Utilizing loyalty programs as differentiators and structuring the loyalty programs for maximum customer and retailer benefits

Project Management & Performance Analytics

Defining the project’s objective, planning the path to reach the goal, leading the project and support teams, monitoring the progress and seeing that the project completes in a satisfactory manner and time.

Designing and measuring the performance analytics to meet the needs of the organizational and the individual. This would help in evaluating performance of the employees for all round development. Would include:

  • Establishing Standards of Performance
  • Measuring Actual Performance
  • Motivating & Training
  • Comparison of Actual Performance with Standards Set
  • Developing & initiating Corrective Plans

Supply Chain Strategy

Planning and managing  all activities involved in sourcing, procurement, conversion, and logistics management. Importantly, also coordination and collaboration with channel partners, which can be suppliers, intermediaries, third-party service providers, and customers. In essence, integrating supply and demand management within and across companies 

Strategic Vendor Management & Private Label

  • Structuring Relationship Characteristics
  • Deciding Deliverables
  • Fixing up Time Frames
  • Monitoring Poor Performance & Responsiveness
  • Developing Reporting Systems for Partners & Vendors. 

Conceptualizing & strategising of private label (self owned low cost brands offered by a retailer) clothing, branding, pricing, range plans, shelf roles and sourcing. 

Technology, Loss Prevention & IT Systems

Analyzing the impact of technology on the value proposition of the retailer. Management and coordination of internal business processes (enterprise retail systems, store operations systems) and supply chain systems. 

Technology applications on all strategic resources in retail viz. applications in Point of Sale, Customer Relationship Management, Loyalty programs, Merchandise Management Systems and Loss prevention (shrinkage control). 

Finance & Commercial Systems

In-depth analysis and study for financial feasibility of a new business (start up), scaling up and expansion.