Increase in sales and visibility of effected stores at Mall

Object Required

Increase in sales and visibility of effected stores at Mall

Principle

A) Root cause Analysis B) Tie up with brands C) Strategy planning D) Implementation

Theory

Concern: Sales targets. not being met cause of structural / constructional flaw,

Bad impact: Most brands served notice to vacate the mall with negative message for the eminent real estate brand which may impact for their future projects as well .

Mitigation plan: Core committee was formed to address the issue . The committee consist of competent individuals of professions from creative/ analytics/ Marketing and brands representatives.

Team addressed the issue by understanding the Root Cause - First, meeting held with brands to understand the retailers to understand the situation better at store level. A check on Visual Merchandise , Inventory management and availability , new launch products display , training of sales staff has been initiated, post that offers and modes operandi to display in stores offers has been implemented . All the creative now had better call to action so that customer can apprehend well. New strategy implemented by increasing visibility / cross promotions to attain desired results .

The core team was assertive now and ready with the new strategy and implementation plan.

The team defined the places where new strategy should be implemented by sighting the places to implement.The common area of mall has decked up with new creatives featuring affected brands logos mentions and offers . Also cross promotions tie ups happened with most frequently visited stores .

The management has also promoted all the brands in digital/social handles to have 360 * impact / hammering. After 1 month all the brands started gaining their sales. To push it more a digital campaign has also been felicitated with the objective of intense hammering. Influencers were hired with the profile segment of fashion /retails /trends and  generally uploads the content based on the fashion /retails /trends. All of them  visited  the brands and were asked to talk about the products and their USP's along with prices and variance available. The influencers really helped in  promoting  all the brands in their social handles by posting product images, hastaggging , insta stories which created positive buzz among their followers and actually landed in stores as tangible benefits . To support the brands mall management decided to reduce the rentals by 20% for the period of 6 months considering the losses brand had incurred during initial phase .

After taking the above all steps Mall footfall rapidly got increased and benefited the Mall and the steps were repeated whenever Mall faced any downfall.

The Mall  is currently reaping the benefit after implementing and getting the best output and Mall was specially mentioned at IRF (Indian Retail Forum) for getting the mall recognition in short span of time. The success story was shared at different malls within Delhi NCR for other to learn and implement.

Conclusion

Conclusion: Mall footfall rapidly increased. The Mall is currently reaping the benefit after implementing and getting the best output and Mall was specially mentioned at IRF (Indian Retail Forum) for getting the mall recognition in short span of time. The success story was shared at different malls within Delhi NCR for other to learn and implement.management has also promoted all the brands in digital/social handles to have 360 * impact / hammering. After 1 month all the brands started gaining their sales. To push it more a digital campaign has also been felicitated with the objective of intense hammering. Influencers were hired with the profile segment of fashion /retails /trends and generally uploads the content based on the fashion /retails /trends.

Published Date

02 Oct, 2018