Productivity Evolution and Harnessing Every Dollar 1 Brandon Wetzstein Lead Business Partner- Order Pickup Planning and Implementation ~20 Years in Retail Target Best Buy Audio King Improviser Beginning blacksmith? Linkedin.com/brandonwetzstein Twitter @curiousbrando
18
Embed
Tighten Up Your Back End: Productivity Evolution in Retail and Harnessing Every Dollar
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
Productivity Evolution and Harnessing Every Dollar
1
Brandon Wetzstein
Lead Business Partner- Order Pickup Planning and
Implementation
~20 Years in Retail
Target
Best Buy
Audio King
Improviser
Beginning blacksmith?
Linkedin.com/brandonwetzstein
Twitter @curiousbrando
1950’s – Post WWII – increased specialization and DIY- Home Improvement centers-auto parts and tire stores- expansion and growth of the supermarket- Notably the TV Dinner
1960’s – Apparel rebellion (think tie-dye), Big Box hit’s the scene, Discounting becomes a thing.
1980’s- Rise in fashion and designer styles, Brand names, more office services and discount clubs. Home shopping network (new channel) – computer use start to lend efficiencies- Hardware growth, Decade of the chicken wing, fast casual born, premium grocery
1990’s- Internet retailers, comfortable casual, prescription filling computer system, Growing fast casual and gourmet coffee, grocery mergers and superstore
2000’s- Fashion all over the place (crocs), tech disruption, organic healthy and on te go. Grocery merges
Today: Tech everywhere, omni-channel flexibility, personalization, Save time, recommendation engines.
2From Chain Store Guide's "Through the Ages” series.
Basic measurement- very similar to ROI
In retail, expressed in sales dollar per labor hour (or employee in a sales role)
Ideally, should increase over time
Store labor is largest component of SG&A Expense (For Big Box Retail)
To oversimplify- Footsteps and Touches (Maximize here!)