To be the best then learn from the experts. EuroAsia Research Experts will conduct a free consultation on assortment merchandising and product placements on November 23, 2015.
If you’re a part of a merchandising team or if you’re from the retail industry then take this opportunity to learn from the experts.
For schedule and inquiries contact us at info@euroasiaresearchexperts.com.
Last November 10, 2015, EuroAsia Research Experts organized a Food Safety Forumevent that was attended by representatives from the different sects of the retail industry. The event focused on food safety particularly GMP and HACCP Certification, Food Safety Act of the Philippines, and the importance of being certified.
The Speakers: (L-R) Christina Diaz of SGS Philippines, Patty Velasquez of EuroAsia, and Timothy Moises Mendoza of FDA
Patty Velasquez sharing insights on food safety in the retail industry and the GMP and HACCP Certification process
Timothy Moises Mendoza explaining the Food Safety Act of 2013
Christine Diaz sharing the importance of being certified
About the Author:
Eric Poiret
Strategic Planning Director – EuroAsia Research Experts
Eric has a solid experience of more than 25 years in the management of retail chains in the Gulf Region, Asia and France. Before becoming the Chairman of ERE, he was Managing Director for Metro Gaisano, Chief Operating Officer for ASWAAQ, a Dubai Government-owned company, and Chief Executive Officer for MAF Carrefour KSA. Eric Poiret’s expertise lies in strategic planning and operations management.
There are many factors that contribute to the success of a new store, but one of the most critical elements is your location. You may have done everything perfectly, but in the wrong site, your business could easily fail.
As with all other aspects of business, you need thorough research and careful planning when it comes to the ideal location. This begins with a crucial step: understanding the requirements of your business format. Different formats have different needs. For example, convenience stores need to be in urban areas with heavy foot traffic, while a grocery store can be located in residential areas that have ample parking space.
Once you have identified the needs of your business format, you can assess locations based on these criteria:
In any business, one of the first things you do is you identify your target market. What are their income brackets? What brands do they buy? What are their buying habits? When you determine these, you can also figure out the areas they frequent. You can look at these areas for your store location, because your target market is already there.
You have to make it easy for your target customer to visit your business. If your business format requires a lot of foot traffic, you can choose locations along main roads or busy streets, or near public transportation routes. Do you expect your target customers to drive to your store? You may need ample parking space and a large driveway. The flow of traffic is also an important consideration, especially since roads that are one-way today may become two-way in a few years, or the flow of vehicular traffic may change. Which side of the road would be better? Are there upcoming commercial or residential developments that might affect your business?
Study not only the current business landscape, but also the future of that area. Many thriving business and commercial districts started out as idle or undeveloped locations five or ten years earlier. In addition to researching upcoming developments, you can assess current and potential competitors in the area to see how you can compete with them.
Often you have to look at multiple locations because you have to open more than one store. But it’s not practical to open one store in one place, and then open a second store on the other side of the country. If the locations are too geographically distant, you will have problems with logistics. You may want to consider opening multiple stores in a single city, business district or region, for example. This will help build your brand recognition, paving the way for expansion to other areas in the future.
There are many risks to consider when setting up a new business or opening a new store. Some of these risks you can plan for, such as prospective sites in flood-prone areas or earthquake zones. Other risks are difficult to predict, such as changes in traffic management schemes or a large shopping mall suddenly opening. Think of possible situations that might have a big impact on your business, and draft contingency plans for them.
One of the most important things to remember when choosing a new location is your budget. There are many costs involved in opening a new store, and it may be tempting to spend a lot on what you think is the ideal location. If you find an optimum space that is over your budget, think carefully if it is worth the expense. The additional cost of this location could be detrimental to other aspects of your business. Did you find a low-cost location? Cheaper is not always better.
These are a lot of factors to consider when choosing a new location. How do you decide? You can assign a weight to each criterion, determining which factors are most important for your business format. Then you can create a score card for the different locations you are considering, and see which one is the most ideal. When you find your ideal location, you are already contributing to the success of your business.
About the Author:
Eric Poiret
Strategic Planning Director – EuroAsia Research Experts
Eric has a solid experience of more than 25 years in the management of retail chains in the Gulf Region, Asia and France. Before becoming the Chairman of ERE, he was Managing Director for Metro Gaisano, Chief Operating Officer for ASWAAQ, a Dubai Government-owned company, and Chief Executive Officer for MAF Carrefour KSA. Eric Poiret’s expertise lies in strategic planning and operations management.
The Philippines for the past years has been a flourishing and thriving market for retail operations. International, national, and local players each have established their presence in key cities and are continuously expanding like wildfire to rural centers, even to before unexpected locations. In the past, most malls were only located in the cities, but recent developments have seen the rise of malls in every municipality and town. Expansion strategies of big mall owners to target more market segments have reached the provinces through smaller channel formats like supermarkets and groceries. The proliferation of convenience stores from business districts have reached the residential areas and are now present in every street corner. These developments were brought about by Filipino consumerism and the increase in their purchasing power.
International and national players have taken advantage of this progress and competed head-to-head on market share and profitability, leaving some local players dumbfounded on how to cope with the ever-changing landscape of competition due to the bigger investors and the ever-growing consumer needs. Yes, there may be an apparent difference in terms of investments and capabilities between big and small players, but that doesn’t sound all correct to be able to achieve success and compete fairly. The obvious disparity in the standing and going points of the retail players, oftentimes overshadow the core aspects of operating a business. This is where not only the local players are caught into but even the bigger players.
Market varies from one place to another, even in similarities there are differences and uniqueness. This aspect can be better understood by doing Market Research. Knowing and understanding the market is essential to planning and implementing strategies. What will work and what will not, what is necessary and what is not. Market research will help find out the right location for a business, the population to target, its demographics and economic base, and other necessary information. For instance, since the Philippines is an archipelago, topography and market composition differs from one place to another. The research will help retailers determine what format to implement based on the data gathered. Thus, market research will enable custom-fitting to a specific market.
Market research will tell retailers where to go. Location is crucial to a business’ success, that’s why most big players are looking for the best location rather than going for the cheapest one. Though not a priority, the cost of getting the desired spot is a consideration for retail operations. The space where to establish a business will somehow dictate its effectiveness.
Accurate strategic planning allows retailers to understand and select the best options for development in line with their ambition and financial capabilities. Understanding their strengths and weaknesses will enable them to act appropriately. A business fails mainly for two reasons: (1) Lack of planning and strategizing for development; and (2) Under-evaluating the costs of developing the business. Business owners all want to develop quickly but aren’t well-prepared with their business plans and commercial concepts. If market research tells where to go, good planning tells what to do and how to do it.
Organized retailers, mainly international and national players, have understood this from their myriad of experiences. They plan better and keep the trend while adjusting their commercial concept. Recent developments will show for instance, how some national players diversify and expand their retail operations. From the big malls, they have further saturated the market and extended their brand through smaller and complementary formats like supermarkets, neighborhood stores, and convenience stores. These aren’t out-of the-blue decisions, but rather part of their master plans, with some adjustments along the way as changes and development occur.
Adhering and being consistent with the plan is also essential. The lack of understanding of it will lead to random, inappropriate actions. Mid-term expectations are preferable to short term anticipations in order to avoid discouragement. Local retailers and outsiders, however, show hesitation and uncertainty during the development phase or the execution of the plan. Even on the first sign of difficulty, some immediately reconsider their plans. Remember, if you planned well, trust the plan and go with it. Make the necessary adjustments as you see fit. But again, don’t veer away from the plan. If the return of investment is slow, you can adjust the commercial concept and economic model, instead of stopping.
Organization and resources are rarely appropriate to face challenges in developing the company. Retailers see the necessity to upgrade the model but are hesitant to engage in necessary investments. They should make sure that their standards will support their ambitious development plan. Commercial excellence in merchandising and operations are required to achieve the expected level of performance.
Moreso, the alignment of plans with the entire retail organization is a pre-requisite to embrace changes that promise the company’s growth. Everybody in the group should be aware of the plan, be connected, and aligned. They should push for the achievement of the plan. This step will prevent internal resistance that might cause delays and gaps with the company’s qualitative and quantitative targets.
The discipline in monitoring the development of the strategic plan is an important factor to its success. Retailers usually focus quickly on the economic performance without ensuring that all conditions and pre-requisites have been set, thus resulting to wrong assumptions. It is important for retailers to have a management that concentrates on company goals, tackles unique scenarios, and provides a clear road map.
In a progressive and competitive retail environment, only those that are structured, well prepared, and equipped with the right tools will remain steadfast.
About the Author:
Eric Poiret
Strategic Planning Director – EuroAsia Research Experts
Eric has a solid experience of more than 25 years in the management of retail chains in the Gulf Region, Asia and France. Before becoming the Chairman of ERE, he was Managing Director for Metro Gaisano, Chief Operating Officer for ASWAAQ, a Dubai Government-owned company, and Chief Executive Officer for MAF Carrefour KSA. Eric Poiret’s expertise lies in strategic planning and operations management.
In 2015, the International Group Ocean Conservatory and McKinsey Center for Business & Environment ranked the Philippines as the 3rd biggest contributor to plastic waste that goes into worldwide seas.
This translates to the earth-shaking figures below.
based on 21 waste assessments conducted in 6 cities and 7 municipalities in the Philippines.
The research illustrates that a year’s worth of sachets can cover the entire Metro Manila one foot deep in plastic waste.
If that is not alarming enough, then the entire nation will literally be underneath a big pile of trash.
How can we be part of the solution? Taking small steps to cut down on plastic use every day may start out as tiny ripples that can become gigantic waves with immeasurable impact on the environment.
The potential of not using any plastic for an entire month may sound impossible — and unfortunately, it pretty much is. But let it not stop you from trying. Instead, it’s all about being part of the solution in a way that works for your lifestyle — while still naturally challenging yourself.
With the pandemic still evidently posing a clear danger and risk, it may be trickier than usual to avoid single-use plastic this July. That is completely understandable as the world prioritizes health and safety above environment-friendly. Instead of being hard on yourself, be completely aware to use something reusable instead of something single-use whenever possible. At restaurants, bars and venues, say no to a straw as you order your drink. Choose products with less packaging while out shopping. Every little ‘no’ adds up.
As a guide, simply think — If you can’t reuse it, refuse it.
We can all do our bit to cut down on plastic we use every day.
It can start with bringing your own utensils when dining out, using your own bottle for drinks and refills, bringing a bag when shopping. Choose loose fruits and vegetables from the supermarket or take your own containers when grocery shopping. If that is still too much, start with disposing off your plastic waste responsibly, or picking up plastic trash you spot on the way.
According to the Global Alliance for Incinerator Alternatives (Gaia) from its five-year trash audit, the average Filipino uses 591 pieces of plastic sachets, 174 shopping bags, and 163 plastic “labo” (translucent) bags or almost a thousand plastic pieces yearly.
If every one Filipino would reduce plastic use by even a half every day, we liberate our country from 464 pieces of plastic every year or over 50 billion plastic wastes if every one of the 110 million Filipinos would do the same.
Remember the times when you were duped by a tumbler of ice cream in the freezer containing frozen meat or fish? Or when Grandma’s collected glass coffee containers suddenly repurposed as drinking glasses at home?
Chided as habits that are uniquely Filipino (only in the Philippines), these were practical efforts of our elders to reuse old containers instead of dumping them straight into the bin to decrease household waste
Certainly, one good habit worth keeping and passing on to generations.
So before throwing something into that dumpster, remember Grandma and take a good look at it.
Give it a second chance at being useful, and yourself, the opportunity to save the world.
Remember the old Sesame Street song … “One of these things is not like the others, One of these things just doesn’t belong, Can you tell which thing is not like the others, By the time I finish my song?”
For the GenX, this may be our first lesson in segregating. Only this time, we sort not candies nor shapes, but waste. There may be different categories to group your trash but the simplest principle is to separate the Wet from Dry. Other than for environment preservation and protection of human health, waste segregation at source improves collection efficiency and leads to better processing of waste.
As a business entity, let’s make it as easy as possible for people to correctly segregate waste in by labeling, making sure there are enough accessible bins and making it clear why segregation is so important.
As a consumer, the next time you’re presented with a choice to put your plastic bottle in a general waste bin or a plastic bin, reach over to the plastic one and drop it in there.
Choose the healthier and earth-friendlier alternative this July. Below are some items you can immediately consider to make that big Switch.
Tell others about what you are doing and encourage them to reduce plastic use as well. Don’t be afraid to guilt-trip them if you spot them using unnecessary plastic! There are many ways and channels to make people aware of the problem in the environment.
Use the power of communication on a personal, professional, and digital level to influence people to REFUSE, REDUCE, REUSE, SEGREGATE, SWITCH, and SPREAD the word.
Still too much waste? Sort your stuff and repair, repurpose, re-sell or regift.
Remember, someone’s trash may be another one’s treasure.
We might say that we can leave this problem for eco-warriors, bigger organizations, or the government to handle, thinking there is little or nothing we can do to impact a change. On the flip side, we can also say that this is way out of our league. The truth of the matter is, this problem involves everyone living on this planet, and it is a sacred responsibility to DO SOMETHING ABOUT IT. Whether we are a private corporation, in public service, an ordinary citizen, or a world leader, there is always an action to be taken to be part of the solution.
WWF-Philippines President and CEO Joel Palma says, “We’re so used to the alleged ‘convenience’ and ‘efficiency’ of plastic because it’s cheap and easy to dump. We have to go back to the basics. In the end, all this convenience will cost more, for us and for our children.”
Groceries. Office supplies. Clothes. Whatever consumers are looking for, they can find it on the Internet. Some check online for items on sale at the local supermarket. Children can find out which department stores are selling the latest toys. With just one click, customers can find out where to go to buy what they need.
If consumers are searching online, it makes sense your businesses should be online as well. Online selling and online catalogues go a long way towards sustainability and longevity for any business, especially in retail.
Yet many retailers still hesitate to put up a website. They don’t realize that they are missing out on many potential customers.
Here are a few benefits of setting up a website for your business:
A website will help customers learn more about your business: what you offer, where you are located, what your store hours are. Many customers go online to do research before they make a purchase, so if you don’t have a website, customers won’t know about your products or your prices, and they won’t get to know your business. If customers don’t know you, they won’t buy from you.
An online presence is crucial to your company’s exposure. If you have a company website, you have worldwide visibility. With more visitors to your website, you can get more customers and more sales.
Even if your website does not have an online purchasing feature, it can serve as your online showroom. Customers can check out your products before they visit your physical store to make a purchase.
Here’s an example of how a website would benefit your business: At Thanksgiving there are many family gatherings, which usually means a lot of picture-taking. Now imagine running out of ink while printing souvenir pictures. You would probably drive to the nearest Staples. But the store would be closed, as announced recently. The trip would have wasted gas and time. Instead of driving to a closed store, you could have checked the Staples website to find out when they would open.
Websites are accessible 24 hours a day, 365 days a year. Even if your store is closed, potential customers can still get information from your website.
Many people look up products and companies online first. They check if you are running a legitimate business, and they look at what other people have to say about you. They look at what you are selling, and they compare it to the products sold by other companies.
Your website is a chance to show customers why they should trust you. You can show customers more than just your products. You can share your company history, your philosophy, your return-and-exchange policy. You can show visitors how you do business. This validates your professionalism and build trust among customers.
The more customers trust you, the more likely is it that they will buy from you.
Marketing is one of the biggest advantages of having a website for your business. Traditional marketing strategies usually involve costly measures: print ads, TV commercials, telemarketing. Your website provides a way for your business to connect with customers at a much lower cost, with the added benefit of a wider reach.
Your website also serves another purpose: reaching a more targeted market. Depending on how you design your site and what information you publish, your website—or different parts of your website—can be geared towards more specific markets: different age brackets, men or women, consumers in certain locations, and so on.
On your website, you can easily update your catalog, highlight items that are on sale, and alert visitors to new promotions. Customers can subscribe to your website to get email alerts about new products or promotions. You can announce that you have new stock of a popular item, or that it is now available in different colors and sizes.
Such marketing campaigns can easily be published on your website, with little additional cost. It also helps if you use every opportunity to remind customers to check your website for updates.
In addition to showing your products, your website should also tell customers what your brand is about. Many businesses rely on billboards and TV ads for this, but you can use your website for your brand identity too.
But how should it look? The logos, colors and other design elements that appear on your posters, in flyers or on shopping bags, should also appear on your site. Your website’s design should be consistent with all your other marketing materials. This way, your visual identity is consistent, whether it’s online, on TV, or in print.
Every part of your website is an opportunity to show customers who you are and what you do. Every word or picture should say something about you. Every page should be relevant and well-thought out. But before working on all the small details, you should focus on the most critical part: your domain name. As early as possible, you should register (www.yourbusiness.com). At a glance, that string of words establishes a strong online brand identity.
With all the right elements, your website can be an effective and powerful tool. And with enough time, effort and thought put into it, your website can be a part of your business that makes you proud.
Thai retailer Lotus’s has teamed up with telco True Digital to launch Thailand’s first smart unmanned store, Lotus’s Pick & Go, at the grocer’s North Ratchapruek community centre flagship.
Shoppers may select from more than 400 products, including drinks, snacks, and everyday essentials. To shop at the unmanned store, they must have the TrueMoney Wallet application and a minimum balance of 200 baht.
With the help of True Virgo AI, a smart retail platform, Lotus’s Pick & Go by True Digital aims to transform the store into a fully automated system while also delivering what the companies bill as “a completely new kind of shopping experience for the digital age”.
“Lotus’s is moving forward to develop its business in every aspect to provide superior experiences with the launch of a new branch and renovation of existing branches to better suit customers’ lifestyles in each area,” said Monchai Intarapornudom, senior director of Lotus’s operations development.
“Last year, we opened Lotus’s North Rachapruek, a Smart Community Center prototype as a centre that combines smart living for all generations with Smart Life Solutions, offering products and services that response to the daily demand with community space for various activities in the shopping centre.”
According to local sources, customers can be confident that their data privacy is secured because the unmanned store won’t run by gathering personally identifying information from them, including images of their faces.
Earlier this year, Lotus’s retail store operator, Ek-Chai Distribution System, launched a luxury hypermarket concept brand named ‘Lotus’ Prive’, with the first store opening at mixed-use lifestyle complex ICS.
Original Article: https://insideretail.asia/2023/07/14/lotuss-introduces-thailands-first-unmanned-store-with-true-digital/
In celebration of International Youth Day, we had a candid conversation with our young employees to understand the unique perspectives and strengths that define Gen Z. With their tech-savviness and future-oriented thinking, Gen Z is undoubtedly a force to be reckoned with. We explored their thoughts and their remarkable qualities, and how they harmoniously navigate a diverse and multi-generational workforce.
In exploring the most remarkable aspects of Gen Z, our young employees offered unique insights that define their generation as a dynamic force for positive change. Here’s a glimpse into what sets Gen Z apart:
Ange: “One of the highlights of being a Gen Z member is that we are open to diversity and inclusivity. We are more accepting of others’ preferences. This inclusivity not only enriches our interactions but also propels us to create environments where differences are celebrated and contribute to a more harmonious world.”
Clarissa: “We are not afraid to give our opinions and to accept criticisms. We are very opinionated. This candidness not only allows us to express our thoughts authentically, it also fosters a culture of open dialogue and continuous improvement. We’re unafraid to contribute our perspectives, enhancing collaboration and growth.”
Rod: “We are mature in our thinking at this age. The pandemic is a big factor in why we think and act maturely. The challenges we’ve faced have accelerated our growth and sense of responsibility, shaping us into a generation that is prepared to tackle complex issues with a mature and thoughtful approach.”
Sean: “Gen Z is more creative; they can give new ideas and shed light on some issues that were not discussed before because past generations were more conservative about discussing them. Our creativity enables us to unearth innovative solutions and address previously overlooked problems. By pushing boundaries, we’re able to drive meaningful change.”
These insights collectively illustrate a generation that is defined by its openness, candidness, maturity, and creativity. Gen Z’s willingness to embrace diversity, communicate honestly, approach challenges with maturity, and generate novel ideas demonstrates its commitment to shaping a more inclusive, innovative, and forward-thinking world.
As members of Gen Z, our young professionals offer their perspective on how they tackle the stigma. Qualities such as overdependence on technology, lack of work ethic, entitlement, social activism as performative, short attention spans, unrealistic expectations, are often attached to their generation within the workplace. Their strategies for addressing these misconceptions shed light on their dedication to collaboration, understanding, and mutual respect.
Rod: “As a Gen Z employee, I tackle the stigma, like the lack of work ethic of our generation, by actively collaborating with my older colleagues and supervisors. By keeping communication open, we ensure we’re all on the same page and prevent any misunderstandings. I make sure to express my thoughts in a respectful manner to avoid any misinterpretations. Additionally, I believe in building strong relationships with my more senior colleagues, learning from their experiences and applying them for my own career advancement.”
Sean: “It’s unfortunate that our generation is often labeled with stigmas like lack of work ethic or entitlement. These perceptions stem from past issues like corporate exploitation and unequal treatment. What’s heartening is that Gen Z isn’t simply accepting these problems. Thanks to the internet, we’re becoming more aware of these issues and are willing to stand up against mistreatment. We’re reshaping the concept of employment as a mutual investment, not just a favor. It feels good to be part of a generation that’s pushing for positive change and being the change that previous generations couldn’t be.”
Clarissa: “When it comes to stigmas like social activism as performative, short attention spans, and unrealistic expectations attached to Gen Z, I believe actions speak louder than words. To counter these misconceptions, I focus on setting clear goals, showing unwavering commitment to my projects, and taking full responsibility for my tasks. Our eagerness to collaborate and learn play a key role in challenging these stereotypes. I also find that having a proactive mindset, seeking mentorship, and being open to feedback demonstrates our genuine dedication to success. Learning from experienced colleagues and valuing the journey of improvement showcases our hard work and growth-oriented attitude.”
Ange: “Being part of Gen Z at work, I understand that people might have some wrong ideas about us. I want to talk about these ideas fairly. Yes, we do use technology a lot, but I think it can be really useful when we use it right. I try to find a good balance between using technology for work and talking to my coworkers face-to-face so we can work well together.”
In today’s modern workplace setting, intergenerational collaboration is a hallmark of success. Our Gen Z employees, equipped with insight and empathy, share their strategies for seamlessly navigating interactions with colleagues from different generations, emphasizing respect, understanding, and mutual growth.
Clarissa: “Adjust and help others. Adapting to the unique approaches and working styles of colleagues from different generations creates a harmonious environment. By lending a helping hand and being receptive to their needs, we contribute to a culture of cooperation that transcends generational differences.”
Rod: Pakikisama and respect are essential for navigating multi-generational dynamics. Recognizing that diverse perspectives enrich our shared objectives fosters camaraderie. By respecting their viewpoints and experiences, we forge a bond that’s essential for productive collaboration.”
Ange: “Educating myself and learning from the knowledge and insights of colleagues from older generations enrich our understanding. By investing time to build connections and proving our dedication, we earn their trust and cultivate a platform for effective teamwork. By fostering an environment of learning and mutual respect, we bridge the gap between generations.”
Sean: “Active listening, openness to opinions, and clear communication are vital. By cultivating an atmosphere where each generation’s perspectives are valued and understood, we pave the way for effective collaboration.”
Their insights reveal a generation unafraid to challenge stigmas, dismantle barriers, and foster a culture of collaboration. Their openness to diverse viewpoints, ability to adapt, and commitment to respectful communication underline their role as catalysts for intergenerational harmony within the workplace.
Indeed the unwavering spirit of Gen Z is shaping a world where diversity and collaboration are put into action, and where the voices of the young contribute to a symphony of progress. With their progressive mindset, inclusivity-focused approach, and readiness to embrace change, Gen Z is poised to lead the way into a future that holds promise for all.
7-Eleven is the world’s largest convenience retail banner in terms of revenue and stores, with a global presence across more than 20 markets.
While 7-Eleven is well known for its food-to-go and beverage range, its global presence means it and its global franchisees may sometimes flex its format to meet local needs.
This could be a format that solves unmet needs in product range or lifestyle, or one that comes with creative ways to boost store profitability. Here are seven interesting formats worth taking a look at:
For businesses seeking success in the ever-evolving market, gaining insight into consumer behavior trends is vital. Therefore, let’s explore the five most significant trends shaping the preferences of consumers in Southeast Asia.
Original Article:https://insight.rakuten.com/5-biggest-consumer-behaviour-trends-in-southeast-asia/
