While there is certainly a new appetite for Western brands among Russian consumers, we are seeing a corresponding growing confidence in homegrown Russian brands, themselves now making inroads in the West.
Ideas4Retail’s Cook House, the first national chain of culinary schools and kitchenwares concept, is one such successful brand now expanding internationally; Sberbank, Europe’s third largest retail bank, is listed in the global BrandZ Top 100 report – the only Russian brand to be so. This points to a maturing appreciation for quality from all corners, and is testament to our clients and the steps they’ve taken to earn consumer trust, in offering relevant and lifestyle-driven propositions.
But vital to any new market success is local insight and on-the-ground partnering. We believe this fast-moving retail landscape is the next stage of innovation.
David Blair, managing director, Fitch Europe & Russia
Creating future leaders
The departure of both HR director Michelle Emmerson and fashion director Kate Bostock from ASOS is a stark reminder of the value of succession planning.
The exit of any employee, let alone department leaders, can cause waves throughout an organisation. Therefore, as well as focusing on employee retention, businesses also need to prepare for the worst. This means creating an ethos where every employee acknowledged as having potential is consistently challenged through a learning and development programme.
It is imperative that training focuses on the next generation of leaders, as well as the current. In order to grow, organisations need their employees to grow with them. By investing in learning and development, companies can maintain a consistent pipeline of talent.
Kevin Young, general manager, Skillsoft EMEA
Tesco’s loyalty boost
Tesco’s decision to rebrand Clubcard Rewards and Exchange as Boost is certainly a positive move. Repackaging and repositioning the existing programme benefits, with the addition of new offers and touchpoints that add value, both real and implied, to a significant element of the Clubcard audience should provide Tesco with a stronger marketing tool.
Redemption is an increasingly important element of a loyalty programme as customers no longer want to save and collect for a rainy day but are looking for a more immediate, tangible value. Complacency is the enemy in loyalty. Stimulating customer interest in programmes through new redemptions makes the programme more motivating, and therefore more effective. Clubcard Boost has ensured simplicity, value and relevance for the consumer, while keeping their loyalty offering strong and profitable.
As Tesco’s loyalty programme is often viewed as the market leader, it could spark changes across the loyalty sector.
Stuart Evans, general manager UK, ICLP