Marks & Spencer Pop Up Shop in Miami

Page 1


TABLE OF CONTENTS X. CONCLUSION

IX. FINANCIAL PLAN

IIX. PROMOTIONAL PLAN

VII. PRODUCT ASSORTMENT

VI. STORE DESIGN

V. MIAMI

IV. TARGET CONSUMER

III. MARKET ANALYSIS

II. COMPANY OVERVIEW

I. EXECUTIVE SUMMARY


I

EXECUTIVE SUMMARY


EXECUTIVE SUMMARY

“The retail industry is going through a profound period of change. Many of the actions we set out as part of our strategy three years ago, and have since implemented, put M&S in a stronger position to compete in this new world.� Robert Swannell Chairman


II

COMPANY OVERIEW


II.

I. III.

IV.

COMPANY OVERVIEW

H I S T O R Y

V.

VI.

VII. IIX.


B R A N D I D E N T I T Y M A T R I X

PRODUCT

ORGANIZATION

PERSON

COMPANY OVERVIEW

SYMBOL


B U S I N E S S M O D E L

COMPANY OVERVIEW

.


C O R P O R A T E S T R U C T U R E

.

COMPANY OVERVIEW


D I S T R I B U T I O N

COMPANY OVERVIEW


C O M M U N I C A T I O N

COMPANY OVERVIEW


P L A N S F O R G R O W T H

S W O T

COMPANY OVERVIEW


UK US C U R R E N T P O S I T I O N I N G

COMPANY OVERVIEW


III

MARKET ANALYSIS


S T A T E O F I N D U S T R Y

MARKET ANALYSIS

P E S T E L Political

Technological

Economic

Environmental

Social

8. Family Medical Leave Act (FMLA) 2 9. Occupational Safety and Health Act (OSHA) 2 Legal


P O L I T I C A L

MARKET ANALYSIS

E C O N O M I C

.

.


S O C I A L

T E C H N O L O G I C A L

MARKET ANALYSIS


MARKET ANALYSIS

E N V I R O N M E N T A L

L E G A L

.


D I R E C T C O M P E T I T O R S

MARKET ANALYSIS


I N D I R E C T C O M P E T I T O R S

MARKET ANALYSIS


IV

TARGET CONSUMER


TARGET CONSUMER


C O N S U M E R P R O F I L E S

TARGET CONSUMER


V


D E M O G R A P H I C S


D E M O G R A P H I C S


D E M O G R A P H I C S

P S Y C H O G R A P H I C S


E S T I M A T E D C O M P E T I T I O N

Most of M&S’ future competition lies in the incoming retailers that will take up space in Brickell City Centre. The shopping center alone is 565,000 square feet allowing other department stores to take up just as much space. Nearby popular shopping plazas such as Mary Brickell Village propose a smaller threat in terms of product offering and experience. Mary Brickell Village is mostly comprised of locally owned-boutiques and restaurants on a much smaller scale.


A R E A A T T R A C T I O N S

L O G I S T I C S & I N F R A S T R U C T U R E


H U M A N R E S O U R C E S


L E G A L I S S U E S


VI

STORE DESIGN


STORE DESIGN


E N T R A N C E

STORE DESIGN


H O M E

STORE DESIGN


P R O D U C E

L O U N G E

STORE DESIGN


C O S T In order to provide an asethetically pleasing environment for our shoppers, we have factored in the costs for staging of furniture, lighting, music, holiday displays, customer service and our lounge/cafe area. In regards to our interior cost within the first level of our 10,000 square foot space we have estimated nearly $30,000. For the second level costs we will allocate a total of $34,873 diving this amount into our staged living area, bedroom, grocery store and outdoor eating area. In order to create brand awareness and generate buzz within the comminity of Brickell we must take those risks in cost to instill a positive impact. Everything from the flooring to the lighting, scents and music have been thought out in order to execute a proper pop up shop and grand opening. 1

Interior Cost First Floor Costs Marble top displays Cocktail tables beauty section Shelving Units Colorful Mannequins Lounge Chairs Lighting fixtures above display cases Neon Trees Green X-mas Tree

Unit Cost

# of Units

Total Cost

$2,200 $134 $384 $200 $250 $70 $130 $200

10 3 12 6 3 9 2 1 46

$22,000 $400 $4,600 $1,000 $750 $630 $260 $200 $29,840

Second Floor Costs-Bedroom Bed Throw Pillows Throw Blanket Beside Tables Desk Desk Chair Armchair Lighting Artwork Small Mirrors

$750 $35 $40 $90 $450 $199 $550 $250 $10 $25

1 2 1 2 1 1 1 1 3 3 16

$750 $70 $40 $180 $450 $199 $550 $250 $30 $75 $2,594

Second Floor Cost-Living Room Sofa Chairs British Area Rug Coffee Table Table Top Books Pillows Samsung 60' TV Backsplash Fireplace Installation Chandelier

$2,000 $500 $500 $279 $150 $140 $1,000 $2,300 $2,000 $550

1 2 2 1 1 8 1 1 1 1 19

$2,000 $1,000 $1,000 $279 $150 $1,120 $1,000 $2,300 $2,000 $550 $11,399

Grocery Store Costs Shelving Units Freezer Units Checkout Desk Ladder Shelving Cubicles Baskets

$150 $1,000 $250 $80 $25 $10

20 2 1 2 16 300 341

$2,000 $250 $190 $400 $300 $6,140

Outdoor Eating Area Cocktail tables Stools Grill/Kitchen Area Outdoor Wicker Furniture Set Fire pit

$115 $109 $10,000 $2,500 $250

6 12 1 1 1 21

$690 $1,300 $10,000 $2,500 $250 $14,740

Total Interior Cost:

$3,000

$64,713

STORE DESIGN

Exterior Cost Rent Indoor Lighting Air Conditioning Refridgeration Space heating Cooking Water Heating Miscellaneous

September $57,959 $18,000 $16,769 $333.00 0 $665.00 $664.00 $2,294

October 57,959.00 $18,000 $16,769 $333.00 0 $665.00 $664.00 $2,294

November $57,959 $18,000 $16,769 $333.00 $0 $665.00 $664.00 $2,294

December

January

February

Total Costs

$57,959

$57,959

$57,959

$18,000 $16,769 $333.00

$18,000 $16,769 $333.00

$18,000 $16,769 $333.00

$347,754 $108,000 $100,614 $1,998.00 $24,828 $3,990.00 $3,984.00 $13,764 $604,932.00

$8,276

$8,276

$8,276

$665.00 $664.00 $2,294

$665.00 $664.00 $2,294

$665.00 $664.00 $2,294


VII

PRODUCT ASSORTMENT


Average Price (USD)

September (2015) $15,603.35

October (2015) $32,174.40

November (2015) $205,645.32

December (2015) $855,304.90

January (2016) $142,195.49

February (2016) $56,148.75

Total $1,307,072.21

£5.00 £15.00 £8.00 £50.00 £45.00

$6.26 $50.09 $18.78 $10.02 $62.61 $56.35

2493 312 831 1557 249 277

5140 642 1713 3211 514 571

32851 4106 10950 20523 3285 3649

136630 17075 45543 85360 13661 15178

22715 2839 7572 14191 2271 2523

8969 1121 2990 5604 897 996

$108,720.14

$224,182.91

$1,432,883.52

$5,959,543.79

$990,781.47

$391,230

208797 26094 69599 130446 20876 23196 479009 $9,107,341.83

£125.00 £99.00 £35.00 £45.00 £39.50 £59.00 £29.50 £49.50 £59.00

$156.53 $123.98 $43.83 $56.35 $49.47 $73.88 $36.94 $61.99 $73.88

695 877 2480 1929 2198 1472 2943 1754 1472

1432 1808 5115 3978 4532 3034 6069 3616 3034

9154 11557 32692 25428 28965 19395 38789 23115 19395

38073 48069 135970 105759 120468 80665 161330 96137 80665

6330 7991 22605 17583 20028 13411 26821 15983 13411

2499 3156 8926 6943 7908 5295 10591 6311 5295

$123,316.83

$254,281.54

$1,625,261.40

$6,759,667.72

$1,123,803.06

$443,756.25

£149.00 £119.00 £49.50 £45.00 £35.00 £29.50 £49.50 £39.50 £35.00 £25.00 £249.00 £25.00 £15.00 £18.00 £25.00

$187 $149.02 $61.99 $56.35 $43.83 $36.94 $61.99 $49.47 $43.83 $31.31 $311.82 $31.31 $18.78 $22.54 $31.31

661 828 1989 2188 2814 3338 1989 2493 2814 3939 395 3939 6566 5471 3939

1363 1706 4102 4513 5802 6884 4102 5140 5802 8121 254593 8121 13540 11281 65

8710 10906 26218 28842 37081 43997 26218 32853 37081 51909 5212 51909 86542 72106 51909

36227 45361 109044 119959 154225 182990 109044 136642 154225 215895 21678 215895 359940 299897 215895

6023 7541 18129 19943 25640 30422 18129 22717 25640 35893 3604 35893 59840 59840 35893

2378 2978 7159 7875 10124 12013 7159 8970 10124 14173 1423 14173 23629 19688 14173

$28,186.70

$58,121.50

$371,488.32

$1,545,066.91

$256,869.27

$101,430

£24.50 £18.00 £29.50 £17.00 £16.00 £22.00 £49.00

$30.68 $22.54 $36.94 $21.29 $20.04 $27.55 $61.36

919 1251 763 1324 1407 1023 459

1894 2579 1573 2730 2900 2110 947

12108 16481 10057 17449 18537 13484 6054

50361 68548 41826 72572 77099 56082 25180

8373 11396 6954 12065 12818 9324 4186

3306 4500 2746 4764 5061 3682 1653

$41,273.39

$85,106.48

$543,965.04

$2,262,419.40

$376,130.00

$148,522.50

£79.00 £65.00 £79.00

$98.93 $81.40 $98.93

417 507 417

860 1046 860

5498 6683 5498

22869 27794 22869

3802 4621 3802

1501 1825 1501

$91,103.45

$187,856.98

$1,200,703.32

$4,993,876.97

$830,238.18

$327,836.27

£699.00 £1,249.00 £599.00 £349.00 £799.00 £249.00 £89.00 £19.50

$875.34 $1,564.10 $750.12 $437.05 $1,000.57 $311.82 $111.45 $24.42

104 58 121 208 91 292 817 3731

215 120 250 430 188 602 1686 7693

1372 768 1601 2747 1200 3851 10773 49169

5705 3193 6657 11426 4991 16015 44808 204499

948 531 1107 1900 830 2663 7449 33998

375 210 437 750 328 1051 2942 13425

$95,130.13

$196,160.05

$1,253,773.08

$5,214,600.81

$866,933.79

$342,326.25

£10.00 £8.00 £15.00 £36.00 £19.50 £168.00 £162.00 £8.00

$12.52 $10.02 $23.50 $45.08 $24.42 $210.38 $202.87 $10.02

7598 9494 4048 2110 3896 452 469 9494

15668 19577 8347 4351 8033 932 967 19577

100142 125127 53352 27812 51342 5960 6180 125127

416502 520419 221898 115674 213538 24787 25704 520419

69244 86520 36891 19231 35501 4121 4273 86520

27342 34164 14567 7594 14018 1627 1687 34164

58183 73458 207788 161621 184098 123272 246544 146916 123272 1325153 $10,330,086.80 55362 69320 166641 183320 235685 279645 166641 208815 235685 329929 286906 329929 550058 468282 321872 3888094 $2,361,162.70 76961 104754 63919 110905 117822 85705 38480 598547 $3,457,416.81

BEAUTY

£40.00

34948 42474 34948 112371 $7,631,615.17 8718 4879 10174 17462 7627 24474 68476 312515 454326 $7,968,924.11 636496 795302 339103 176773 326328 37879 39281 795302 3146463 $42,163,619.63 10003961

CHRISTMAS

Total Rev Total Units

Average Price

PRODUCE

# of Units Product Categories Revenue Christmas Christmas Cards Christmas Hampers Christmas Candles Christmas Mugs Christmas Decorations Christmas Jumpers Total # of Units Revenue Women's Coats & Jackets Jumpers & Cardigans Shirts & Blouses Tops & T-shirts Jeans Trousers Leggings Skirts Dresses Total # of Units Revenue Men's Blazers & Smart Jackets Coats & Casual Jackets Jumpers & Cardigans Formal Shirts Casual Shirts T-shirts Formal Trousers Casual Trousers Jeans Shorts Suits Ties Socks Underwear Belts Total # of Units Revenue Beauty Skincare Eyes Face Lips Make-up Accessories Haircare Fragrance Total # of Units Revenue Accessories Women's Shoes Men's Shoes Women's Handbags Total # of Units Revenue Home Beds Couches Chairs Coffee Tables Desks Sidetables Bedding Cushions Total # of Units Revenue Produce Fruit Vegtables Cheese Meat Desserts Wine Champagne Soft Drinks Total # of Units

HOME

PRODUCT ASSORTMENT


IIX

PROMOTIONAL PLAN


P L A N

PROMOTIONAL PLAN


PROMOTIONAL PLAN

.


PROMOTIONAL PLAN


D U R I N G

PROMOTIONAL PLAN


D U R I N G

PROMOTIONAL PLAN


PROMOTIONAL PLAN


IX

FINANCIAL PLAN


S A L E S F O R E C A S T

E X P E N S E S

Expenses Design of Space Interior Fixtures Exterior Fixture-signage/decals Wages Rent and Utilities Janitorial Promotional Activities Legal and Permits Warehouse/storage Total Expenses

September (2015) 10,785.50 18,000 $2,500 378,500 $96,684 $200 $136,029 $490 $2,691.66 $645,879.81

October (2015) 10,785.50 18,000 $0 378,500 $96,684 $200 $8,834.66 $490 $2,691.66 $516,185.82

November (2015) 10,785.50 18,000 $500 378,500 $96,684 $200 $31,474.66 $490 $2,691.66 $539,325.82

December (2015) 10,785.50 18,000 $500 378,500 $96,684 $200 $44,878 $490 $2,691.66 $552,729.16

January (2016) 10,785.50 18,000 $500 378,500 $96,684 $200 $32,428 $490 $2,691.66 $540,279.16

February (2016) 10,785.50 18,000 $500 378,500 $96,684 $200 $34,988.00 $490 $2,691.66 $542,839.16

Total 64,713.00 108,000 $4,500 2,271,000 $580,104 $1,200 288631.97 $2,940 $16,149.96 $3,337,238.93

Foot Traffic Conversion Rate Average Basket Total

Women's (21.6%) Men's (24.5%) Beauty (5.6%) Accessories (8.2%) Home (18.1%) Produce (18.9%) Christmas (3.1%) Total

FINANCIAL PLAN

September (2015) 50,333.34 20% 50 503,334

October (2015) 62,000.23 27% 62 1,037,883.85

November (2015) 221,124 40% 75 6,633,720

December (2015) 323,642.17 55% 155 27,590,480.50

January (2016) February (2016) 291,235 175,000 35% 23% 45.00 45 4,586,951.25 1,811,250

Total 1,123,334.00

21.60% 24.50% 5.60% 8.20% 18.10% 18.90% 3.10% 100.00%

September (2015) $503,334.00 $108,720.14 $123,316.83 $28,186.70 $41,273.39 $91,103.45 $95,130.13 $15,603.35 $503,334.00

October (2015) $1,037,883.85 $224,182.91 $254,281.54 $58,121.50 $85,106.48 $187,856.98 $196,160.05 $32,174.40 $1,037,883.85

November (2015) $6,633,720.00 $1,432,883.52 $1,625,261.40 $371,488.32 $543,965.04 $1,200,703.32 $1,253,773.08 $205,645.32 $6,633,720.00

December (2015) January (2016) $27,590,480.50 $4,586,951.25 $5,959,543.79 $990,781.47 $6,759,667.72 $1,123,803.06 $1,545,066.91 $256,869.27 $2,262,419.40 $376,130.00 $4,993,876.97 $830,238.18 $5,214,600.81 $866,933.79 $855,304.90 $142,195.49 $27,590,480.50 $4,586,951.25

February (2016) $1,811,250.00 $391,230.00 $443,756.25 $101,430.00 $148,522.50 $327,836.25 $342,326.25 $56,148.75 $1,811,250.00

42,163,619.6

Total $42,163,619.60 $9,107,341.83 $10,330,086.80 $2,361,162.70 $3,457,416.81 $7,631,615.15 $7,968,924.10 $1,307,072.21 $42,163,619.60


X

CONCLUSION


CONCLUSION


XI

APPENDIX


APPENDIX


APPENDIX


APPENDIX


APPENDIX

MEDIA Traditional

PRE-LAUNCH May (2015)

June (2015)

July (2015)

August (2015)

DURING September (2015)

October (2015)

November (2015)

December (2015)

January (2016)

February (2016)

POST March (2016)

April (2016)

:30 Spot Y-100 ($194.00/Month) :30 Spot Power 96 ($194.00/Month)

$194.00 $194.00

$194.00 $194.00

$194.00 $194.00

$194.00 $194.00

$194.00 $194.00

$194.00 $194.00

$2,716.00 $1,358.00 $1,358.00 $22,500.00 $7,500.00 $7,500.00 $7,500.00 $724.00 $724.00 146743.98 $9,103.98 102000 $102,000.00 $35,640.00 $35,640.00 $60,905.97 $4,551.99 $4,551.99 $4,551.99 $15,750.00 $15,750.00 $15,750.00 $100.00 $50.00 $50.00 $100.00 $50.00 $50.00

$194.00 $194.00

Billboard Brickell Centre Metromover Station ($2,500.00/Billboard) Palmetto Expressway ($2,500.00/Billboard) Dolphin Expressway ($2,500.00/Billboard)

$2,500.00 $2,500.00 $2,500.00

$2,500 $2,500.00 $2,500.00

$2,500.00 $2,500.00 $2,500.00

Landing Page Setup

$724

Commercials Creation of Commercials ($3,970.00/Commercial) :30 TV Spot (20 Spots) ($850/Spot) :30 Online Spot (20 Spots) ($297/Spot)

$1,517.33

$1,517.33

$1,517.33 $17,000.00

$17,000.00

$1,517.33 $17,000.00

$5,940.00

$5,940.00

$5,940.00

$1,517.33

$1,517.33 $17,000.00

$17,000.00

$17,000.00

$5,940.00

$5,940.00

$5,940.00

Magazine Creation of August Ad Creation of September Ad Creation of December Ad Ocean Drive Magazine (Full, 3X) Venue Magazine (Full, 3X) Miami Living Magazine (Full, 3X)

$1,517.33

$1,517.33 $1,517.33

$1,517.33 $1,517.33

$1,517 $5,250.00 $5,250.00 $5,250.00

$1,517.33 $5,250.00 $5,250.00 $5,250.00

$1,517.33

$1,517.33 $5,250.00 $5,250.00 $5,250.00

Media Kit (1) Creation Submittion

$50.00 $50.00

Press Release (1) Creation Submittion

$50.00 $50.00

67250

Social Media

YouTube Account Setup Management ($2,000.00/Month)

$750.00 $2,000.00

$2,000.00

$2,000.00

$2,000.00

$2,000.00

$2,000.00

$2,000.00

$2,000.00

$2,000.00

$2,000.00

$2,000.00

$750.00 $1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$750.00 $1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00 $1,500.00

$1,500.00

$1,500.00

$1,500.00

$1,500.00

$1,500.00

$1,500.00

$1,500.00

$1,500.00

$1,500.00

$1,500.00

$1,500.00

Instagram Acount Setup Management ($1,000.00/Month)

Twitter Account Setup Management ($1,000.00/Month)

Facebook Page Setup Management ($1,500.00/Month) Out-of-Home Creation of August Ad Creation of September Ad Creation of February Ad Hotel Beaux Arts Miami ($6,000.00/Ad) Viceroy Miami Hotel ($6,000.00/Ad) Holiday Inn Port of Miami-Downtown ($6,000/Ad) Brickell City Centre Tower Apartments ($6,000/Ad) One Plaza Apartments ($6,000/Ad) Camden Brickell Apartments ($6,000/Ad) Partnerships

75600 3600 3600 3600 $10,800.00 $10,800.00 $10,800.00 $10,800.00 $10,800.00 $10,800.00

$3,600.00 $3,600.00 $3,600.00 $3,600.00 $3,600.00 $3,600.00 $3,600.00 $3,600.00 $3,600.00

$3,600.00 $3,600.00 $3,600.00 $3,600.00 $3,600.00 $3,600.00

$3,600.00 $3,600.00 $3,600.00 $3,600.00 $3,600.00 $3,600.00

900

Bloggers (10)

$150.00

$150.00

$150.00

$150.00

$150.00

$150.00

$450.00 $450.00 $450.00 $450.00

$150.00 Gift Card

Instagramers (5) $150.00 Gift Card

$59,315.99

Event

Launch Party DJ Sasha Food Party Mini Wrap Slices (12 Platters) ($19.73/Platter) CruditĂŠ Selection (41 Platters) ($9.46/Platter) Fresh Fruit Mini Kebabs (15 Platters) ($15.77/Platter) Sweet Bites Party Collection (10 Platters) ($18.92/Platter) Oudit Brut NV Champagne (28 Cases of 6 Bottles) ($263.54/Case) Water Bottles (1,500 Bottles) ($0.38/Bottle) Napkins (6 Packs of 250 Napkins) ($3.79/Pack) Security Guard (5 hours) ($25.00/Hour)

TOTAL

$22,750.00 $750.00 $22,000.00 $12,750.00 $750.00 $12,000.00 12750 $750.00 $12,000.00 $19,000 $1,000 $18,000

$75,600.00

Elevator Ad

Cost Per Month

COST

233789.95

Radio

59315.99 $50,000.00 $1,050.37 $236.76 $387.86 $236.55 $189.20 $6,623.12 $570.00 $947.50 $125.00

$50,000.00 $1,050.37

$6,623.12 $570.00 $947.50 $125.00

$11,784.66

10539.99

44579.99

72319.33

136028.65

8834.66

31474.66

44878

32428

34988

5500

3500

436855.94 436855.94


WORKS CITED Plans for growth SWOT Current Positioning Business Model “Governance Framework.” M&S. Marks and Spencer Plc, 2014. Web. 11 Nov. 2014. <http://corporate.marksandspencer.com/investors/corporate-governance/governance-framework>. “Key Facts.” M&S. Marks and Spencer Plc, 2014. Web. 11 Nov. 2014. <http://corporate.marksandspencer.com/investors/key-facts>. “Marks and Spencer: Overview.” LinkedIn. LinkeIn Corporation, 2014. Web. 11 Nov. 2014. <https://www.linkedin.com/company/marks-and-spencer>. Market Analysis State of Industry

“Florida Tolls.” Cost 2 Drive. C2G LLC., 2014. Web. 12 Nov. 2014. <http://beta.costtodrive.com/florida-tolls/>. “Miami: Economy.” City-Data.com. Advameg, Inc., n.d. Web. 11 Nov. 2014. <http://www.city-data.com/us-cities/The-South/Miami-Economy.html>. Renzulli, Melanie. “The 25 Busiest Airports in the USA.” About Travel. About.com, n.d. Web. 11 Nov. 2014. <http://usatravel.about.com/od/PlanYour-Trip/tp/Busiest-Airports-In-The-USA.01.htm>. Social “Business Requirements - Miami-Dade County.” Business Requirements - Miami-Dade County. Miami Dade, n.d. Web. 15 Nov. 2014. Technological 1. “Can EMerge Americas Techweek Conference Put Miami on the Map?” Tech Cocktail Miami. 25 Mar. 2014. Web. 11 Oct. 2014. <http://tech.co/can-emerge-americas-conference-put-miami-map-2014-03>. Environmental

Clark, Evan. “HBC’s Michael Burgess Discusses the Digital Evolution of Department Stores.” Women’s Wear Daily. 2014 Fairchild Publishing, LLC, 08 Oct. 2014. Web. 26 Oct. 2014. <http://www.wwd.com/retail-news/direct-internet-catalogue/the-hudsons-bay-online-way-7970720?module=retailnews-trends-analysis-page-2>.

1. “Hurricane Andrew: 20 Facts You May Have Forgotten.” Huffington Post. 24 Sept. 2012. Web. 14 Oct. 2014. <http://www.huffingtonpost.com/2012/08/21/20-facts-hurricane-andrew-anniversary_n_1819405.html>.

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Legal

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