El Corte Ingles: A Case Study-Led Approach to Supply Chain Success

This document entails some key insights from the conversation between EKN’s principal analyst & General Manager of a leading department store operating in Europe. They discussed various issues related to private label sourcing and how software solutions are helping to overcome the challenges faced by them. This reports also discusses some key KPIs which are vital in the sourcing process. Download Full...

A New Store Excellence Scorecard

To stay ahead, every detail of customer behavior and operations must be regularly monitored in real-time. While retailers say they are striving to improve store performance, the question remains, if they are evaluating themselves on the right set of parameters. This report will help retailers discover some new and upcoming KPIs and performance management strategies, which will help retailers address traffic volatility, increase inventory visibility, improve customer engagement, understand the path-to-purchase, reduce shrink, and better the employee engagement, assortment localization and overall operational performance. Download Full...

Digital Transformation – The Power of Physical to Digital Loyalty

The effectiveness of traditional card-based, in-store loyalty programs is waning. To combat this decline, retailers are looking toward Omnichannel Loyalty programs to enable consumers to both access and exercise their loyalty benefits across channels. An agile shift towards Omnichannel Loyalty programs requires not only integration of the physical and digital worlds, but also process and technology transformation. This eBook highlights the challenges retailers are facing in the existing card based loyalty system, and how retailers can benefit from Omnichannel loyalty with spans across all channels. Download Full...

The Case for Improved In-Store Labor Standards

The ever-dynamic retail industry is still not there when it comes to a structured set of operational standards in store. One such key concern area for retailers is related to labor standards and labor hour models where retailers are seeking standardization of processes. EKN data has shown how labor standard implementations have resulted in increased customer satisfaction and customer engagement rate, besides driving several operational efficiencies in the stores. This EKN point of view discusses how customer satisfaction, operational efficiencies and labor productivity can be addressed by properly implementing labor standards, task management and work measurement models. Download Full...

Improving Store Labor Standards: A Key Ingredient for Successful Store Execution

While the chorus around omnichannel and digital commerce’s growing impact and the need to transform stores becomes louder every day, retailers need to account for how these changes affect the work associates perform and the store’s labor budget. The reality is that a majority of retailers are unsure of how to upgrade labor standards and labor hours for maximizing store productivity and ensuring smooth operations. Labor standards are defined as the average amount of time it takes for store associates and managers to complete customer service, sales and operational tasks in the store. Retailers use a varied set of sales, customer service and operational labor standards for day-to-day store execution. In order to achieve consistent store execution, retailers need to ensure that all these standards are always in line with constantly evolving customer expectations, labor regulations and related store labor policies/procedures. Effective labor standards and related standard operating procedures (SOPs) in the stores include accurate labor planning for all tasks, performance evaluation, insights for operational improvements and cost minimization and above all documentation of the best methods. EKN recently conducted a survey of 63 US retailers and spoke to several softlines and hardlines retail executives to understand their viewpoint on this key retail store execution area. The general consensus is that labor standards are not well documented or updated effectively within the retail organization. In fact, nearly two-thirds of retailers (64%) update labor standards and labor hour models infrequently- range from quarterly, annual or on an ad-hoc basis. Another major business pain that retailers are experiencing is the lack of proper organizational management and consensus on issues related to...