Industry Solutions
Retail & Hospitality
These are challenging times for those in the retail and hospitality sector. It seems that payroll costs are always increasing to meet the growing demands of expanded hours of operation. Small to medium-sized retailers are being squeezed by the “big box” stores on one side, while the rise of Internet purchases is squeezing them on the other. The hospitality sector faces many uncertainties due to shifting customer preferences, exchange rate fluctuations and the threat of global pandemics.
Many presidents and general managers face challenges in establishing the right systems and training their people properly to ensure their customers’ experience exceeds expectations. Some of the common questions that we hear include:
- Why are our advertising methods no longer as successful as they used to be?
- How can we increase traffic, average individual sales, table turns or interest in our other spa services?
- How can we compete if one of our larger competitors opens up across the street?
- What mix of product lines and services will be the most profitable for us in the future?
It is interesting to note that not all owners lose sleep wondering about the viability of their businesses. Those companies that are forging ahead of the competition are doing so consciously with a planned approach by implementing Best Practices that have a history of working in other businesses.
MRSI works with our clients in the Retail and Hospitality sector by helping them realize their vision and potential by implementing such systems as:
- Customer service and management training programs (especially for store managers and shift managers)
- Customer incentive and employee compensation programs
- Marketing planning and optimized advertising programs
- Margin analysis by product and service line
- Budget creation for cost controls
- Security processes for both cash and inventory control
- Facility layout review to optimize operations and merchandising
Working with MRSI is not for everyone. Changing the mindset of your people and the processes they follow to finally realize your true potential is not an easy journey to undertake.
To determine if the right conditions are in place for you, please give us a call at 1-888-267-5095 in the USA or 1-416-323-0762 in Canada and ask to speak with a Benchmarking Coordinator today. Or, if you prefer, contact us by email at benchmarking@mrsibenchmarking.com.