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Team Planet I

presentation on transition from Physical retail store to Online

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Sowmya Merugu
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42 views8 pages

Team Planet I

presentation on transition from Physical retail store to Online

Uploaded by

Sowmya Merugu
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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TRADITIONAL RETAIL FASHION

INDUSTRY

Team Planet I
Davu Manisha
Merugu Sowmya
Utkarsh Lokande
Problem
A well-established fashion retail brand, known for its legacy and extensive physical store
Statement
network, is struggling to compete with fast fashion and e-commerce giants. Despite a loyal
customer base, the brand's outdated operations, ineffective marketing with younger
consumers, and diminished entrepreneurial spirit are hindering its success. The brand
seeks a comprehensive transformation to modernize its operations, revitalize its marketing,
and better connect with today's consumers.

Fashion Market
Sales
Modernize the brand’s marketing to connect
with younger, digitally-savvy consumers while
preserving its heritage.
Key Measures:
• Omnichannel Presence: Develop a seamless
integration of online and offline experiences,
with personalized content across all
touchpoints
• Influencer Partnerships: Collaborate with
fashion influencers and content creators to
enhance brand visibility and appeal to Gen Z
and Millennials.
• Sustainability Messaging: Highlight ethical
production practices through storytelling,
leveraging the brand’s legacy to build trust
and align with consumer values.
• Data-Driven Marketing: Use AI and data
analytics to create targeted campaigns,
leveraging customer insights for
personalized experiences and dynamic
Streamline the supply chain and inventory management to compete with fast fashion without compromising
quality.
Key Measures
• Supply Chain Optimization: Implement just-in-time inventory practices and partner with local suppliers to
reduce lead times and increase flexibility.
• Technology Integration: Adopt advanced analytics and AI for demand forecasting and automated inventory
management to minimize overstock and stockouts.
• Sustainability in Operations: Invest in sustainable sourcing and production methods, aligning with consumer
demand for eco-friendly fashion.
• In-store Efficiency: Integrate RFID technology for real-time inventory tracking and faster checkout processes,
enhancing the customer experience.
CONSUMER VIEW POINT
Line of Action for next quarter:
1. Talent Attraction
• Develop a Strong Employer Brand and showcase success stories and employee testimonials on your
website and social media.
• Leverage Targeted Recruitment Channels and use specialized job boards and platforms (e.g., LinkedIn,
Glassdoor) to reach candidates with specific skills in digital marketing, e-commerce, and supply chain
management and partner with industry-specific recruiting firms and academic institutions.
• Offer Competitive Compensation and Benefits:
⚬ Provide attractive salary packages and performance-based incentives.
⚬ Include benefits like remote work options, flexible hours, and wellness programs.
2. Talent Retention
• Create a Positive Work Environment and foster a culture of inclusion, collaboration, and recognition.
• Provide clear career progression paths and promote internal mobility and invest in continuous learning
and upskilling programs related to digital marketing, e-commerce, and supply chain management.
• Recognize and Reward Performance and develop a structured recognition program for achievements
and milestones.
3. Talent Development
• Design Comprehensive Training Programs:
⚬ Focus on skills development in digital marketing (e.g., SEO, content strategy), e-commerce (e.g.,
online sales tactics, customer experience), and supply chain management (e.g., logistics
1. Encourage a Growth Mindset: Promote Risk-Taking and
• Experimentation and create an environment where calculated
risks are encouraged, and failures are seen as
learning opportunities rather than setbacks.
• Implement "innovation labs" or pilot programs where new ideas
can be tested without significant risk.
• Provide Resources and Training on innovation techniques,
entrepreneurial thinking, and creative problem-solving.
2. Empower Employees
• Decentralize Decision-Making and allow teams and individuals more
autonomy to make decisions and drive projects forward.
• Empower employees to take ownership of projects and ideas, giving them the authority to implement their
solutions.
• Create Cross-Functional Teams diverse skill sets and perspectives to work on innovation projects.
3. Foster a Collaborative Environment
• Promote Open Communication establish channels for open dialogue and idea sharing, such as internal
forums, innovation workshops, and regular brainstorming sessions.
• Recognize and reward contributions from all levels of the organization.
4. Align Innovation with Business Goals
• Set Clear Innovation Goals and define specific, measurable objectives for innovation that align with the
company’s strategic goals.
Most Important Metrics:
Sales conversion rate: How many visitors are converting into customers.
Customer lifetime value: An estimated prediction of the monetary net profit
attributed to the entirety (or lifetime) of a future relationship with a customer.
Customer acquisition cost: This total cost of acquiring a customer, including
marketing and sales efforts to onboard the customer.
Revenue by traffic source: How much ROI you gain from leads coming from specific
sites/sources.
Average order value: This is the average amount of money spent considering overall
orders.
Shopping cart abandonment rate: The percentage of which shoppers leave your site
without completing a purchase of items placed in their shopping cart.
Net Promoter Score: Used to gauge the loyalty between customer and brand.
Measures the likelihood of the customer to recommend (otherwise promote) your
Thank You

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