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Big Mistakes and What You Can Learn from Them

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Big Mistakes and What You Can Learn from Them My new upmarket challenge How Bay Bashir is taking his successful store model to the suburbs STORE LOOKBOOK Page 6 » RETAIL NEWS THAT MATTERS ● £2.50 ● 09.03.2018 Big mistakes and what you can learn from them ● 12 retailers share the errors that have been most valuable to their businesses ● How the industry is embracing the knowledge gained when things go wrong Page 22 » Arjan Mehr Linda Williams Kamal Sisodia Mital Morar Londis, Bracknell, Broadway Premier, WH Smith Local, Store!, Berkshire Oxgangs, Edinburgh Coalville, Leicestershire central Manchester GLOBAL RETAILING CUSTOMER SERVICE SYMBOL GROUPS Japanese Hero staff Fresh share battle approach success ‘beast to Select strategy from east’ & Save C-store boss Indies personal Vol 129 No 10 Symbol MD on how FOR TRADE USE ONLY attributes growth to touch aids snow- 10 Bestway supply deal understanding local swept communities and fresh will fuel demand Page 4 » across UK Page 18 » expansion Page 5 » 2 9 March 2018 RN CONTENTS Shaping the future NEXT WEEK » of independent retail since 1889 Cakes and biscuits Editor Features editor News editor Chris Rolfe Tom Gockelen-Kozlowski Helena Drakakis @ChrisRolfeRN @TomGK_RN 020 7689 3357 020 7689 3362 020 7689 3361 9 Reporter Reporter reasons Alex Yau Priyanka Jethwa pricemarking @AlexYau_RN @priyanka_RN remains relevant 020 7689 3358 020 7689 3355 to your store Page 27 Head of design Anne-Claire Pickard 020 7689 3391 Editor in chief Account manager Marketing executive “Our supply deal with Bestway Louise Banham Jon Melson Michael Sharp 020 7689 3353 020 7689 3372 020 7689 3356 can help us make fresh and Designer Sales executives Financial controller Emma Langschied Khi Johnson Parin Gohil 020 7689 3380 020 7689 3366 020 7689 3375 food to go trends work” Production Joe Waxman Finance executive coordinator 020 7689 3363 Abi Sylvane Andrew King p5 Alex Garton Sales support 0207 689 3383 020 7689 3368 executive Finance administrator Account directors Michela Marino Anubhuti Shah George McCracken 020 7689 3382 0207 689 3397 020 7689 3364 Marketing manager Managing director HEADLINES OPINION Chris Carnevale Tom Mulready Nick Shanagher 020 7689 3389 020 7689 3352 07966 530 001 4 BREAKING NEWS 18 YOUR NEWS Japanese chain’s sales secrets Retailers get smart to minimise effect of extreme winter weather If you do not receive your copy of RN please contact Michael Sharp 6 STORE LOOKBOOK on 020 7689 3356 or email [email protected] Bay Bashir’s Billingham Lifestyle 20 YOUR VIEWS Printed by Southernprint, Poole, on 80gsm Galerie Fine Gloss paper Express in the spotlight Your letters, views and tweets Distributor Seymour Distribution, 2 East Poultry Avenue, London, EC1A 9PT Audit Bureau of Circulations 10 SYMBOL NEWS 33 COLUMNIST July 2016 to June 2017 average net circulation per issue 12,187 ‘Feed the family’ meal deals How a snowbound retailer kept his store’s tills ringing Annual Subscription 11 UK 1 year £150 Europe £302 NEWS & MAGS 2 years £237 Rest of world £354 Trinity Mirror margins mix 3 years £333 To subscribe contact 020 7689 3384 12 PRODUCT TRENDS Launch of Low-sugar cola ‘opportunity’ Newtrade the week: 11 Angel Gate, City Road, London EC1V 2SD 13 BRAND SNAPSHOT Fun to Learn Tel 020 7689 0600 News from nine big brands email [email protected] Friends Art RN is published by Newtrade Publishing Limited, which is wholly owned by NFRN Holdings Ltd, which is 14 WHAT’S NEW wholly owned by the Benefits Fund of the National Federation of Retail Newsagents. RN is editorially independent of the NFRN and opinions, comments and reviews included are not 11 opportunities for your store necessarily those of the Federation and no warranty for goods or services described is implied. Reproduction or transmission in part or whole of any item from RN may only be undertaken with the 16 PRICEWATCH prior written agreement of the Editor. Contributions are welcomed and are included in part or whole at the sole discretion of the editor. Benchmark your cider Page 34 Newtrade accepts no responsibility for submitted material. Every possible prices care is taken to ensure the accuracy of information. For trade use only RN 9 March 2018 3 Follow RN Follow RN Email & Visit the TALK f on Facebook on twitter phone RN website facebook.com/ThisisRN @ThisisRN for expert advice to email [email protected] www.betterretailing.com/RN TO RN to have your say on the latest news help you grow your sales tel 020 7689 0600 extensive galleries and news WELCOME Mistakes, while painful, embarrassing or expensive at the time, can often be the catalyst for business growth MY NEW VENTURE IN THE SUBURBS ichard Branson describes Virgin Cola as one of the biggest mistakes he ever Page 6 made. A brand that achieved early Rsuccess in the mid-90s when sold on Virgin’s flights, trains and cinemas, it fell flat when Branson tried to expand and topple Coca- Cola in the US. By 2004, it was history. Editor Despite the failure, Branson says he INSIGHT Chris Rolfe wouldn’t change a thing about the venture @ChrisRolfeRN because it taught him two valuable lessons. 22 WINNING MISTAKES 020 7689 3362 Firstly, Virgin had failed monumentally Learning from an error can help to understand its competition or prepare for you turn calamity to opportunity how it would react to a challenger brand. 28 PRICEMARKING Secondly, the company had entered a market where it Why this key industry strategy couldn’t offer something significantly different. “I learned is as relevant as ever today only to go into businesses where we were palpably better than all the competition,” he said. 32 INDUSTRY PROFILE Mistakes, while painful, embarrassing or expensive at the Phil Whitehead, Molson time, can often be the catalyst for business growth, so we’ve Coors’ managing director UK and Ireland, talks to chosen to explore this theme in this month’s special report. RN Twelve RN readers told our features editor Tom Gockelen- Kozlowski about the mistakes they have made with every- 32 THIS WEEK IN thing from staff, contracts and competitors to management, MAGAZINES refits and stock – and the lessons they learned as a result. Fun to Learn Friends Molson Coors MD Dean Holborn, for example, estimates he lost up to £30,000 Art launch will give on investing in craft in sales by avoiding getting a slush machine for three years. kids activities galore; He now ensures he pays attention to trends that appear fre- National Geographic to help indies’s family pack quently in the magazines he reads. capitalise If you’ve ever made a mistake, but profited through the Page 32 lessons you learned, we’d love to hear your story. But for now, I hope you enjoy the issue. RN 9 March 2018 3 Follow RN Follow RN Email & Visit the TALK f on Facebook on twitter phone RN website facebook.com/ThisisRN @ThisisRN for expert advice to email [email protected] www.betterretailing.com/RN TO RN to have your say on the latest news help you grow your sales tel 020 7689 0600 extensive galleries and news WELCOME Mistakes, while painful, embarrassing or expensive at the time, can often be the catalyst for business growth MY NEW VENTURE IN THE SUBURBS ichard Branson describes Virgin Cola as one of the biggest mistakes he ever Page 6 made. A brand that achieved early Rsuccess in the mid-90s when sold on Virgin’s flights, trains and cinemas, it fell flat when Branson tried to expand and topple Coca- Cola in the US. By 2004, it was history. Editor Despite the failure, Branson says he INSIGHT Chris Rolfe wouldn’t change a thing about the venture @ChrisRolfeRN because it taught him two valuable lessons. 22 WINNING MISTAKES 020 7689 3362 Firstly, Virgin had failed monumentally Learning from an error can help to understand its competition or prepare for you turn calamity to opportunity how it would react to a challenger brand. 28 PRICEMARKING Secondly, the company had entered a market where it Why this key industry strategy couldn’t offer something significantly different. “I learned is as relevant as ever today only to go into businesses where we were palpably better than all the competition,” he said. 32 INDUSTRY PROFILE Mistakes, while painful, embarrassing or expensive at the Phil Whitehead, Molson time, can often be the catalyst for business growth, so we’ve Coors’ managing director UK and Ireland, talks to chosen to explore this theme in this month’s special report. RN Twelve RN readers told our features editor Tom Gockelen- Kozlowski about the mistakes they have made with every- 32 THIS WEEK IN thing from staff, contracts and competitors to management, MAGAZINES refits and stock – and the lessons they learned as a result. Fun to Learn Friends Molson Coors MD Dean Holborn, for example, estimates he lost up to £30,000 Art launch will give on investing in craft in sales by avoiding getting a slush machine for three years. kids activities galore; He now ensures he pays attention to trends that appear fre- National Geographic to help indies’s family pack quently in the magazines he reads. capitalise If you’ve ever made a mistake, but profited through the Page 32 lessons you learned, we’d love to hear your story. But for now, I hope you enjoy the issue. 4 9 March 2018 RN BREAKING NEWS Smaller cashless rise for indies The growth in the number of convenience stores ofer- ing contactless payment is not being matched by the rise in cashless consumer spending in shops. Figures from Barclaycard show consumer spending with contactless payments rose by 79% in 2017.
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