With today’s news that Arcadia tycoon Sir Philip Green has finally sold BHS to Retail Acquisitions, we look at how the consortium, set up by financier Keith Smith, can turn around the ailing BHS brand, which has struggled for profitability over recent years.
BHS boss Darren Topp says he wants to make BHS an “iconic British brand” again after it was saved from bankruptcy by creditors who voted in favour of a survival plan but it will need to invest in marketing and explain to shoppers why they should be visiting its stores if it wants to turn its slump around.
As M&S fashion sales fall once again over its fourth quarter, new chief executive Steve Rowe insists the brand’s Sparks loyalty card scheme will be crucial to helping it build better marketing and relationships with its customers as he aims to turn around the business.
According to McDonald’s CEO Chris Kempcziski, the fast food chain’s global loyalty scheme has been the “single biggest driver of digital adoption” and is on its way to becoming the world’s largest loyalty programme.
ISBA’s director of agency services believes pitches have become “more frequent, more complex and more costly”, to the detriment of both advertisers and their agencies.
A renewed look at talent is “vital” for the future success of the industry as brands, agencies and media owners “struggle” to attract and retain staff, says AA president and Tesco chief customer officer Alessandra Bellini.
Diageo increased marketing investment by 27% in the six months to the end of last year, ahead of sales growth, as it looks to build the business for the future.