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Store Operations Review (SOR)© & Retail Study Tour Programs

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Other: Basics Of Retailing Credential Programs

 

Sample Project


Provided strategic direction and helped lead the repositioning of the logo merchandise business of a leader in luxury hotels and resorts. Acted as interim VP Gift Shop over a period of 5 months.

Client
The Ritz-Carlton Hotel Company

A top brand in the luxury hotel and resort industry.


Challenge

Ritz-Carlton wanted to explore current operational opportunities with their hotel Gift Shops and catalog business to help broaden the brand appeal beyond their hotel guests. The goal was to expand the reach of Ritz-Carlton Logo merchandise to potential new customers through the catalog and the web. The company also required assistance during a transitional phase from the old to a new management structure for the division.  

 

Solution

 

Assisted Ritz-Carlton in developing a new strategy for a successful logo merchandise brand extension as well as assisted on an interim basis during the transitional phase from phase 1 – identification of opportunities and challenges – to phase 2 and 3 – implementation of the new plan.

 

Services Provided

 

Phase #1: Conducted a review and analysis of current Gift Shop and Catalog operations, including:

  • Inventory management and relevant benchmark performance on stock turn, GMROII, stock to sales ratios and other productivity measures
  • Sales management and relevant benchmark performance on Average Transaction, Items Per Ticket, Revenue per Guest, Conversion Rate and other sales metrics
  • Receiving, marking, re-stocking fulfillment and PO operational procedures
  • Staff selection, hiring, standards, sales training, customer service and staff motivation practices

Phase #2: Developed logo merchandise brand extension strategy, including:

  • Complete business plan and SWOT analysis
  • Sales forecasts
  • Profit potential
  • Licensing revenue potential
  • Operating constraints and requirements

Phase #3: Acted as interim VP Gift Shop division responsible for

  • Defined and created the new retail division organization structure and capabilities (Job Descriptions & Job Profiles for each position)
  • Identified Merchandise Management training needs for Gift Shops Merchandise Managers across the nation
  • Refined the central buying structure, defining the mandate, preparing budgets and product sourcing
  • Created a Product Brand Committee
  • Oversaw catalog business
  • Analyzed new company software and recommend customizations to meet the needs
  • Helped fill the VP position 

 

Results 

 

Ritz-Carlton has continued to upgrade its retail shops and has centralized the buying position and continues to deliver higher levels of guest satisfaction through the improved retail shops.