Clare Rayner is one of the most well-known and respected retail consultants in the UK. Her creative approach and work within big business have won her the monicker of The Retail Champion, and this year she drew upon influences from the USA to launch Independent Retailer Month in the UK, a campaign intended to drive sales and reinforce the importance of independents within the economy.
Clare started out as a fast-track graduate store management trainee for McDonalds, and went on to work with leading retailers such as M&S, Dixons and Argos, moving swiftly into management roles before being headhunted into senior consulting roles with global software giant SAP and international management consulting brand Accenture.
Known as The Retail Champion, Clare is engaged by clients as a consultant, professional speaker and business mentor, and is regularly called upon by BBC News to comment as a retail expert. Her retail business book, specifically written to enable independent retailers to become scalable, saleable businesses, will be available in July next year.
This year, Clare was asked to launch Independent Retailer Month in the UK. The campaign, which is a month-long celebration of independent retail throughout July, started out in the USA, but, with Clare’s involvement, went Transatlantic.
Furniture News asked Clare to explain a little more about her work, and why she believes independent retailers are so important …
What are the key challenges facing retailers?
Retailers are facing numerous challenges. Not only is the competitive landscape extremely intense but economic factors have really hit consumer confidence hard. Their cost base is constantly rising – they’re absorbing upward-only rent reviews, increasing business rates, increased energy costs and minimum wage implications – not to mention increasing product cost due to raw material prices.
Funding is extremely difficult to secure – banks are reluctant to be as flexible as they have been in the past, and suppliers are tightening up on payment terms. It’s not just profit but cash flow that is under pressure right now.
It’s a very tough market.
But it’s not all doom and gloom – those that are really focused on who their customer is, providing a relevant and appropriate offer, the right kind of pricing and promotions, and those who are keeping their service promises, are thriving.
The difference between success and failure right now is an unprecedented level of attention to detail, performance analysis, and an absolutely clear understanding of who your ideal customer is. The focus is on how to best serve customers, to secure their loyalty, and to develop advocates who are willing to recommend your business to those within their social networks.
What is Independent Retailer Month?
Independent Retailer Month is a campaign to highlight the important role independent retailers play within the retail sector as a whole. Some will be the next generation of multiples. All support our local communities and economy with services and employment, and they add variety and interest to the shopping experience. For many smaller designers and producers, independent retailers are their primary route to market.
Independent Retailer Month is really about three things:
• Encouraging consumers to celebrate their favourite independent retailers, to remind themselves of the fantastic shops on their doorsteps, and to vote with their feet if they really do want to save the high street!
• Encouraging independent retailers to create a buzz throughout July – to let people know that they are celebrating Independent Retailer Month, that they are proud of their store. To attract attention and to get customers, suppliers and the local press talking about them!
• Encouraging suppliers and all those who service the independent retail sector to spread the word – to tell their customers, to support retailers with ideas and in-store events to really take advantage of all the focus!
Independent Retailer Month started life in the USA and was born from the collaboration of two very different individuals who share a common desire to salute independent retailers around the globe. In 2003, Tom Shay, principal of Profits Plus, created a holiday, Independent Retailer Week, to show retailers how they could create celebrations for their communities, industries and own businesses.
In 2009 Kerry Bannigan, CEO of Nolcha devised a plan to advance the business of independent fashion retailers via a series of week-long, city-wide, shopping extravaganzas in New York, Chicago and Philadelphia.
Discussions began between Bannigan and Shay as they wanted to focus on all independent retailing, regardless of what products were sold. Bannigan and Shay wanted to develop something that would be inclusive of all types of retailing and which gave recognition to the importance of independent retailers in communities. And so Independent Retailer Month become the umbrella for all – what was a week for each of these two individuals and their associated groups became a month for everyone.
How can furniture retailers get involved, and how will they benefit?
Like any retailer looking to get involved, they can benefit by creating promotions, events and some excitement around their store throughout July. They should be creating a buzz, letting their customers know, asking them to spread the word. In May/June they should be contacting local press and radio to inform them of what they have planned – better still if they can partner with several other independent retailers in their area and create a much bigger occasion. The opportunities are endless, limited only by their imaginations!
Those who take part will benefit from positive PR, increased footfall and increased sales. Those who have been involved in this sort of activity in the USA since 2009 have reported strong sales increases as a result of all the focus. In addition, if the retailers increase their customer base as a result of their activities in July, they then have the opportunity to engage with them for the long-term, securing their loyalty and boosting their business – not only for a month, but ongoing.
How do you plan to build on this year’s Independent Retailer Month?
2011 was a great success as a first-time campaign. We had lots of local press interest supporting local retail communities, and hundreds of retailers joined our Facebook page.
We did a blog-a-day for Indie Retail – which was very well received. A whole host of experts and well-known business people contributed to 31 blogs released daily throughout July that were packed with hints and tips! A number of retailers – and, encouragingly, several groups of retailers – began to work together on activities and events to celebrate Independent Retailer Month.
The feedback I had from those who did something was all very positive – they certainly enjoyed themselves, but, more than that, their customers enjoyed it too. Essentially it gave them a good reason to contact customers, to encourage them to return to their store, and to bring their friends and family too.
Another thing that I personally offered in 2011 was a series of free webinars – retail surgery sessions. Those who took part received advice and support, helping them to overcome issues that they had highlighted to me when they registered. It wasn’t only the advice that benefited them, however – they all confirmed that networking with other retailers, people in the same boat, was very valuable.
The 2012 campaign is being planned right now – in the UK I intend to repeat the blog-a-day as well as the webinars. I’m having conversations with Kerry and Tom in the USA to see what else we can do over and beyond what we started in 2011. Of course, July 2012 is a big month in the UK, as it will include the opening ceremony of the Olympics – we need to plan to take advantage of this!
Skillsmart Retail will also be repeating their event – Independents’ Day – which, as the name suggests, takes place on 4th July. In 2011 we weren’t aware of each others’ plans until we each launched, so thinking ahead to 2012 we’ve already started talking about how we can support each other on the respective campaigns and events, to pool resources, and give even more value back to the sector.
July 2012 is not only Independent Retailer Month – it’s a big month for me personally too, as it’s when my retail business book will be launched. I’ll tell you more about that nearer the time …
Do you have any tips for retailers of big ticket items?
Big ticket retailers have been some of those most affected by the fall in consumer confidence and availability of credit. My best advice actually is something I learned from Mike Clare, who founded Dreams. He spoke at my event, The Retail Conference, in 2008, and he explained how he introduced more items at lower price points, and fashion items to increase customer repeat visits and to add some newness to the range.
Whilst consumers might only spend every five-10 years on a big ticket furniture item, they may well buy associated home furnishings and accessories throughout the year. Whilst the market is cautious, people will still need to buy certain items – the trick is to be the go-to place in the eyes of the consumer when they want to buy what you sell.
Retailers should be looking at how to engage their customers better, to encourage recommendation and refer-a-friend schemes. They should be focusing on what they can do in order to stand out from the crowd and be the retailer of choice for their ideal customer base. It all boils down to really understanding why your existing customers shop with you, why they are loyal, and making sure you do more of that to attract more, retain more and ultimately have the customer base acting as your advocates – doing the selling for you through word of mouth!
