What we can all learn from a century-old high-street retailer

Driving in to Manchester on Friday morning at 06:30, I listened to an interesting Radio 4 interview with the Managing Director of Beaverbrooks (a 107-year old family business with over 80 outlets).

1. Walk-in trade on the hight street 6% down;

2. Walk-in trade in shopping malls 3.5% down;

3. Sales steady.

Conclusions:

1. Rising energy and food prices are keeping consumer confidence low;

2. The customers who are shopping are serious players, making bigger ticket purchases.

What are Beaverbrooks doing about it?

1. Ensuring that their product mix suits market conditions;

2. Focusing on the hospitality experience that they deliver.

   
   

We can all learn from this.