Retailers are challenged with managing the dynamics of industry consolidation, format evolution, and private-label penetration. Product assortment, consumer tastes and competitive offerings can all change rapidly. In the L.E.K./Wall Street Journal Scoreboard of shareholder returns for the top 1000 U.S. listed companies, the retailer group exhibits some of the greatest disparities between winners and losers of any sector. The winning companies tend to enjoy a virtual cycle of strong comparable store gains, improving cost leverage, and strong margins that can be reinvested in brand-building and store enhancements. By contrast, laggards often face a downward spiral of declining sales, leading to under-invested stores and reduced staffing and service.
L.E.K. helps retailers unlock the formula for profitable growth. Our retail experts have the deep industry and operational expertise required to give our clients a lasting competitive edge. In an industry literally awash with data, we use sophisticated analytics to identify the solutions to complex issues and give executives the insights they need to make more effective decisions. We provide a full array of services including growth strategies, consumer insight, strategic segmentation, concept development, pricing and marketing strategies, strategic sourcing, and cost management. For example:
A big box retailer was looking to significantly enhance its margins. In response to this challenge, L.E.K. developed...more
A department store chain was losing market share because customers perceived the stores as having high prices, when in fact they were generally lower than competitors’... more
L.E.K. was asked to recommend changes to our client's existing retail field sales force to ensure the capabilities and coverage was suitably matched...more
L.E.K. worked with a leading global apparel and accessory retailer to develop an e-commerce based growth strategy...more
A direct marketing company catering to 55+ population looked to L.E.K. for help developing a growth strategy...more
A leading big box retailer focusing in the large specialty format wanted to implement a smaller, or alternative, retail format to further drive sales...more
To uncover and create new opportunities, and assess and mitigate potential risks, clients turn to L.E.K. for assistance in addressing the full spectrum of retail specialties, including:
- Big Box specialty stores
- Convenience stores
- Direct distribution (electronic, catalog, direct sales)
- Department stores
- Dollar stores
- Drug stores
- Grocery stores
- Mass merchants and discounters
- Small format specialty stores
- Wholesale Clubs
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