Content TK Maxx - Who? ‘Off Price’ Retailing – TK Maxx What? Starting from Scratch SLA – 29th April 2004 Other Opportunities for GIS A bit about me… Who are TK Maxx? • TJX Companies Inc. - $12 Billion Annual • Daewoo Cars Ltd – Sales Operations T/O • Whitbread plc – Marketing – USA - TJ Maxx/Marshalls/Homegoods/AJ – TGI Fridays Wright – Beefeater/Brewers Fayre/Brewsters – Canada – Winners/Homesense – David Lloyd – Costa – TK Maxx – 10th Birthday in 2004 • TK Maxx – Finance • 148 Stores – 25 new stores p.a. – Business Planning & Analysis • High Street / Shopping Centre / Retail Park • 15-50k sq. ft selling space • Operate as ‘Off-Price Retailer’ What is ‘Off Price Retailing’? Starting from scratch • Classic brands and designer labels at up to 60% less • Analytical support, including all work involving than the High Street GIS and related data, to all areas of the – Fashion business – Footwear – New role within the company – Accessories – Property & Marketing are the main customers – Gift & Homeware • TK Maxx buys opportunistically – Different products in a wide range of quantities • Existing knowledge – 50,000 items in store – Understanding of data/data capabilities – Daily deliveries refreshing 10,000 items in store every week • Fundamentals – Customers & Catchments – No two stores have the same range of goods at the same – EPOS – Collection of internal data time 1 Starting from scratch Other Opportunities for GIS • System • Product Ranging – Commercial Planning • Data – Specific Product Placement e.g. High Value External Internal Glassware • Geodemographic • Customer Postcodes • Census • Join to ‘in-store’ spend data • New Store Formats • Retail Catchments – Shopping Popn • Update Customer Profile • Marketing • MHE – Store Performance ... ... ... ... • Summarise into H/M/L ..Benchmarking and UK Shopping ... …Importance Segments • Recruitment ..Index • Departmental Profiles – HR using catchment knowledge for recruitment • Update Store Catchments advertising decisions • ‘Clean Slate’ • Buying –“Here’s the data, what can we do with it?” – Sharing more detailed customer knowledge 2.