In shareholder address.
Shaver Shop managing director and CEO, Cameron Fox has addressed key priorities for the retailer moving into the critical Christmas trading period and second half of FY19, at its annual general meeting.
“As a seasonal business, the Christmas trading period remains our most important by a significant margin and one that we need to perform well in to be confident of growing our business each year,” Fox said.
“Our number one objective is for customers to see Shaver Shop as their preferred destination for personal grooming solutions.”
Some key business initiatives to meet this objective are as follows:
Omni-channel
“We need our customers to receive the same unique experience at Shaver Shop whether they walk into our stores, talk to a customer service representative on the phone or choose to browse and purchase online,” Fox said.
Shaver Shop has appointed Allana May as chief marketing officer and Simon Jordan as head of digital and e-commerce. “We have a number of initiatives planned for our online business (including loyalty and subscription plans) and so we will continue to invest in this fast growing, ever evolving sales channel for the foreseeable future.”
Shaver Shop managing director and CEO, Cameron Fox
High-performing team
“Our in-store team members are critical to the success of our business and live our core values on a daily basis. They are experts in the products we sell and ensuring our customers not only get the products they need but also fully understand how to get the most from them,” he said.
Over the last 18 months, Shaver Shop has implemented a Net Promoter Score feedback tool within all stores. “I am pleased to report that our NPS score consistently averages above 80, which is near the top levels achieved globally.”
The business will continue to invest in training platforms for staff to get access to the latest sales and product knowledge.
Product innovation
“It’s not just about picking the right product, it is about ensuring the pricing, in-store training and promotional programs are fully aligned and drive the intended sales and earnings result for Shaver Shop as well as for our suppliers,” he said.
Shaver Shop has secured exclusive distribution rights for a substantial proportion of its top selling products – particularly in core hair removal categories, according to Fox.
In-store experience
“The layout and design of our stores is another important contributor to having a strong and engaging experience for our customers,” he said.
The business is refining the flow and layout of the store t ensure men and women can easily find what they are looking for or are comfortable just taking time to browse. Seven stores will undergo full refits in February 2019 with some in A grade centres. “Recent experience suggests these refurbishments should drive immediate uplifts in sales and strong returns for the business.”
New stores and franchise store buybacks
“So far in FY19 we have committed to six new stores with the last, in Wagga Wagga, to open in the first week of December. This means we remain on track to open 8 to 10 stores this financial year,” he said.
In addition to new greenfield sites, subject to appropriate return metrics, Shaver Shop will continue to undertake franchise buybacks. The Eastland, Victoria franchise business was acquired in late October.