FSP Retail Business Consultants Retailer services
FSP RETAIL BUSINESS CONSULTANTS
Our Core Retailer Services At FSP we offer a variety of services that, with our industry experience and local knowledge will provide insight and direction to assist your growth.
Location Selection
Brand & Consumer Research
Expansion Strategy
Turnover Estimation
The FSP approach is not simply about analysis. At its heart, FSP Directors’ are retailers and over 100 years of retailing experience is directed into every project to test, challenge and provide advice, before it is offered to clients. 2
October 23, 2015
FSP RETAIL BUSINESS CONSULTANTS
Location Strategy – Catchment & Demographic Profiling Location strategy projects combine a lot of the FSP data availability together: Our overviews can include demographics, competition from other retail locations and Zone A rents. Models are built based on criteria supplied from clients to identify sites with the best level of potential. Westbourne Grove 2 Mile Catchment
ACORN Groups % Lavish Lifestyles Executive Wealth Mature Money City Sophisticates Career Climbers Countryside Communities Successful Suburbs Steady Neighbourhoods Comfortable Seniors Starting Out Student Life Modest Means Striving Families Poorer Pensioners Young Hardship Struggling Estates Difficult Circumstances Not Private Households
GL %
Index
2 8 3 20 12 0 6 9 0 2 4 3 2 1 1 24 3 1
348 3 290 35 2 3 43 85 0 111 14 121
GL % 19 13 36 21 11
Index 84 93 117 95 113
0
% 31 24 31 13
GL % 27 31 28 14
Index 115 79 111 94
0
0
9 0 57 4 0 0 2 1 0 27 0 1
-
100
200
300
3 290 35 2 3 43 85 0 111 14 121
Age % 0-15 16-24 25-44 45-retired Retired +
Resident Profile & Demographics Residents 2014 Households 2014 F&B Spend (£m) Average household Income (£) F&B Spend per head (£) Sushi Eaters Penetration % Office Workers
50
100
150
200
84 93 117 95 113
Lifestage
Catchment 436,417 201,104 427 91,170 979 10
GL
Index
-
51,655 939 7
176 104 137
50
100
150
200
176
Pre-Family Family Empty Nesters Retired Seniors
50
100
150
200
150
200
115 79 111 94
104 137
Social Economic Grade
2,114
Population Projections 2019 2024
16 13 42 20 13
%
GL %
Index
AB
38
29
130
Catchment
% Change
Change
C1
33
33
100
459,461 480,219
5 10
23,044 43,802
C2 DE
9 20
15 22
60 88
50
100
130 100 60 88
Source: FSP/CES/CACI
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October 23, 2015
FSP RETAIL BUSINESS CONSULTANTS
Location Strategy – Demographics FSP use demographic information to show where potential customers are located. The example below is the demand surface for Luxury shoppers in London and Assured shopping in France.
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October 23, 2015
FSP RETAIL BUSINESS CONSULTANTS
Location Strategy – Market Segmentation
Combining this analysis with target profiling from any retailer will help ensure that the optimum sites are selected.
70 60 Number of Retailers
FSP are able to deliver extensive insight to the individual shopper profiles and segmentation for any location.
50 40 30 20 10
In the example displayed, The fashion mix is split between Young and Assured. The majority of Clothing and Footwear retailers are in the Upper Middle price point, with a third of retailers occupying the Middle position. Zone A Rent (£/ft²)
425
Approx. Annual Footfall (millions)
15
% Residents
50
% Tourists
40
% Workers
10
Nearby Tube Stations (Annual Exits, millions)
0 Clothing & Footwear
C&F FISH
Personal Goods
Household Goods
Leisure Goods
Department Stores
C&F Price
Classic Family 2% 4%
Food & Beverage
Others
Premium 4%
Middle 41% Assured 44%
Young 50% Upper Middle 55%
Oxford Circus (40) Piccadilly Circus (20) Source: FSP/CES/Colliers/Transport for London/NWEC
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October 23, 2015
FSP RETAIL BUSINESS CONSULTANTS
Benchmarking – Location Comparison Benchmarking is used to help retailers compare and understand understand tenant mix. Are there towns with a similar population and demographic profile? How does a particular location compare to an existing site in your portfolio? This analysis is carried out using NSLSP catchments and ACORN correlations. In the case of Outlet Stores, we compare the retail mix to a range of benchmark slides – We typically look at merchandise mix, price positioning and FISH information stored in our FOC database. 100%
Shopping Population Correlation 320
19%
11%
16%
24%
8%
18%
22% 18%
28%
160
75%
50%
80
25%
0
0%
60%
% Outlets
240
Correlation Coefficient
NSLSP Principal Shopper Population (k)
18%
50%
40%
25%
50%
50%
57%
50%
16%
14%
15%
20% 28% 17%
22%
0%
Young
October 23, 2015
12%
100% 80%
6
15%
Assured
Family
Classic
FSP RETAIL BUSINESS CONSULTANTS
Benchmarking – FISH Customer Segmentation Paris
FISH is FSPs unique classification of fashion Occupiers and Consumers by purchasing attitude.
Old 2%
Classic 13%
Young 25%
FSP can classify all Clothing and Footwear retailers into specific categories indicating the Lifestage and fashionability of each brand. Through this methodology we can compare benchmark locations across Europe to ensure the closest fit to any brand target shopper. The grid below clearly shows where particular brands are positioned according to Lifestage and attitude. Such grids can show either competing or complementary retailers.
Fashionable
Individual
Family 20%
Assured 40%
Safe
Barcelona Young
Classic 16%
Old 3% Young 25%
Assured
Family
Family 26% Classic
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October 23, 2015
Assured 30%
FSP RETAIL BUSINESS CONSULTANTS
Site Selection Support – Targeted Location Summary Reports FSP can also work on an ad hoc basis. We can supply retailer summaries for any individual location that a retailer may consider entry into and wishes to understand deeper. These are a perfect support tool for internal store approval processes. It is typically 4 pages of key points, KPIs and information that can help support any internal decisions.
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October 23, 2015
FSP RETAIL BUSINESS CONSULTANTS
Qualitative Research, Concept & Brand Testing Mini Depth interviews and focus groups can help a brand to understand more clearly individual aspects to their business, including customer perception, new store concepts and product launches. FSP believes that the provision of intimate local knowledge coupled with qualitative research to understand the positioning of your brand will best equip your company to succeed in this market.
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October 23, 2015
FSP RETAIL BUSINESS CONSULTANTS
Simon Rosenberg Senior Consultant
FSP RETAIL BUSINESS CONSULTANTS
T +44(0)1949 474740 M +44(0)7495 638285 F +44(0)1494 474262
19 Manor Courtyard Hughenden Avenue High Wycombe UK, HP13 5RE
simon@fspretail.com
T +44(0)1494 474740 F +44(0)1494 474262 fspretail@fspretail.com www.fspretail.com www.snap-shop.co.uk