IKEA Birmingham FY19 Business Plan Handbook
Contents Introduction to the FY19 Business Plan
1
Where do we want to be?
6
UK & IE Positioning
Store FY19 Goals
8
A breakdown of our store, IKEA Food & online sale goals for FY19.
Introducing The 3 C’s Initiative!
9
A new way to help us all achieve growth, together, in FY19. Made up of three seperate elements: Co-Worker Page 10 Customer Page 11 Cost Page 12
Growth
13
Peak Days FY19
14
For more information, please speak to your Line Manager.
Hej! Welcome to our FY19 Business Plan. FY18 was a challenging year with many external factors affecting our performance as a store: snow, sunshine, football, the economy, and Brexit. However, the world is changing and so are our customers and how they shop. Our costs have increased more than our sales and this can’t continue. There is a need for change and a new direction. For FY19 we need to change! We will lead the change together and travel into the known and unknown, learning as we go. We want to reach more of the many people in the Birmingham Market by having a more affordable and convenient offer and an inspiring store experience that makes every customer count! It will be the leadership of every co-worker in our store and all of us working together that will achieve this transformation. We need to transform the way we meet our customers. We can’t wait for customers to come to us, it’s about proactively meeting with them. We all have a responsibility to take care of our business, and reducing costs is one part of it. This then means we can invest in transformation for our growth! Another part is the atmosphere we create together - how do we live the culture and values everyday? 4
We also want this year to be about competence development (how we become better in our roles) developing for the future; what does your future look like? So here’s to an exciting year ahead where the Wednesbury spirit will drive our success! Thank you all once again!
Store Manager PP Store Management Team
“We believe that more of the many people in the Birmingham Market can be inspired to enjoy a better every day life at home.”
5
Where do we want to be? UK & IE Positioning We are looking to create cultural change in how we in the UK see our homes, and the value it plays in our everyday lives. This is a strong leadership position for IKEA UK to take. We have a vision “to create a better everyday life at home for the many people”. We can interpret this in a more ambitious way. But many don’t understand that home furnishing leads to a better life at home. So instead our focus for now is on the IKEA business idea – our products based on democratic design (affordable, quality, sustainable, functional and stylish,) and in particular how to use them to create ideas and solutions. Our personality is that of a curiosity driven problem solver. We are passionate about the many individual people, their everyday activities, frustrations and dreams, and how we can create with them a better everyday life at home. And we feel that co-creation is the way we’d like to do this in the future. • We do our part - we design all our own products, and are innovative in our thinking. • We inspire, and tempt customers to things they didn’t know they needed. 6
• Our co-workers have a role to play in creating ideas and solutions with the customers. • It’s an interpretation of the modern trend towards co-creation. • Customers will do their part - but there is a chance to be more involved than simply putting things together! • And we can make a difference to our communities, building trust, and living more sustainably. Our positioning is inspiring and we communicate this with the advertising line, “the wonderful everyday.”
7
STORE & FOOD GOAL FOR FY19 £92 MILLION This is the goal our store is planning to achieve in sales for this new financial year. This is made up of both store sales and IKEA Food sales. Here is the breakdown of the two...
STORE £86.3 MILLION IKEA FOOD £5.7 MILLION ...We also have a goal for our online sales for FY19. (This isn’t inlcuded in the overall store & food goals).
ONLINE £9.5 MILLION
8
How are we going to achieve this?
Introducing The 3 C’s initiative! A new way to help us all achieve growth, together, in FY19. Made up of three separate elements: co-worker, customer & cost.
THE E E THRS C’
GROWTH Co-Worker Customer
Cost
9
Co-Worker A more meaningful workplace, with people equipped to lead in the unknown. We want IKEA Birmingham to be the best place to work! We achieve this through a team of co-workers that takes responsibility, works together, and creates an open environment to lead the business forward. Everyone is a leader! We want all co-worker’s to not be afraid to make beneficial business decisions by themselves. We also want to support competence development so we can all be better at what we do for ourselves and the customer, securing an IKEA for the future.
THE E E THRS C’ 10
Customer An excellent customer experience, where every customer counts! We want to transform and improve the customer shopping experience in IKEA Birmingham. We want to create an emotional connection by providing relevant Life @ Home solutions, which will encourage more of the many people to make changes in their homes. IKEA Birmingham will be the destination for home furnishings! We need all co-workers to prioritise the customer at all times. One of the ways that we will do this is by engaging all co-workers with the 6 service behaviours. We will increase our competence to inspire and fulfil the dreams of our customers, ensuring they feel the Wednesbury spirit at every touch point. By securing retail foundation the store experience will be consistent with their expectations. We will be seen as more affordable and more convenient through the presentation of our range and service offer, appealing to more of the many people.
11
Cost Cost performance within all aspects of our business. Profit gives us resources! If we reduce costs we can invest in transformation which enables our growth it’s good business sense. This year we must continuously look for ways to reduce costs, together! A big part of this is ensuring we get it right, first time, for our customers. How can I help reduce costs? Think about how in your everyday roles you can help reduce store costs. For example: • Register TT’s as soon as possible using an RDT or ISB form • Write off stock only when absolutely necessary • Always use an RDT to locate stock • Get it right the first time and know your customer Share your cost-saving ideas on our store Facebook page or via Yammer! Reduce costs + invest in transformation = enabling our growth!
12
Growth Growth Drivers for FY19: Through Leadership and People
RETAIL FOUNDATION
COMMERCIAL CALLENDAR
SERVICES
STRATEGIC PRIORITIES • Everyday growth + 10% • GWI (Growth with Impact): Make room for life / Recharge for life • Market Leadership: HFA (Home Furnishing Accesories) + Kitchens • Food
STRATEGIC PRIORITIES
13
Peak Days FY19 What is a Peak Day? A Peak Day (sometimes known as a Black Day) is a day we expect to be significantly busier than usual. These are also days we predict to take over £410k. We should focus on making every customer count with our excellent customer service and we will have a one-store focus on these days to support each other. Black Days for FY19: • Saturday 8th September • Saturday 29th September • Sunday 30th September • Thursday 27th December • Friday 28th December • Saturday 29th December • Saturday 26th January • Friday 19th April • Monday 22nd April No holidays should be authorised on Black Days - only in exceptional circumstances. Bank Holidays 2018/2019 2018 • Monday 27th August • Christmas Eve/Day (Closed) • Boxing Day 2019 • New Year’s Day • Friday 19th April (Good Friday) • Monday 22nd April (Easter Monday) • Monday 6th May • Monday 27th May • Monday 26th August 14
School Holidays 2018/2019 October Half Term 29th October - 2nd November Christmas Holidays 24th December - 4th January February Half Term 18th February - 22nd February Easter Half Term 15th April - 26th April Easter Sunday - 21st April (Closed) May Half Term 27th May - 31st May Summer Holidays 2019 Summer Holidays begin from Tuesday 23rd July...
15
© Inter IKEA Systems B.V. 2018
#Team Birmingham