Thursday, September 12, 2013

Best One Retail Model

In my earlier post on Retail Shops in Singapore provide more than just Products, i have highlighted how retail chains such as 7 Eleven are completely dominating the retail sector of countries such as Singapore where it is not just selling products but also associated services like bill payments, mobile top up, tourist SIM, courier services, ticket sales (bus/metro/popular attractions), easy cash advance, online shopping payment and cash withdrawal services. These stores also have an ATM inside and are almost everywhere across the country including some of them just beside each other.

In this post, i want to highlight another example of Best One convenience stores which are based in the UK and Jersey CI. The group has over 600 stores in England and most of these stores are owned on a franchise model while its most of the stock is sourced through Bestway Cash & Carry. The store is also a segment of Bestway Group which is owned by Sir Anwar Pervez who also owns Batleys in UK and United Bank Limited (UBL) in both UK and Pakistan.

Similar to 7 Eleven, Best One provide retailers with retailing support, drop shipments, online ordering, panograms, store design, promotional calendar & free Torex EPOS kits. There are no joining fees, nor any hidden head office surcharges or weekly membership fees. So it's almost a win win proposition for both Best One and the retailer.

In addition to that, the customers don't just get fresh bread, soft drinks, newspapers & magazines, beers & cider, wines & spirits, fresh vegetables, confectionery, household products, frozen foods etc. but also additional services essential to the local community such as Post Office, cash machines, money transfers, mobile phone top ups and National Lottery ticket sales.

With the changing model where the banks, telecom and courier companies are going branch less and focusing more on training the retailers to provide their part of the service, this model is going to be a major success. In Pakistan, banks and telecom companies are already using retailers but the absence of a company such as 7 Eleven and Best One which can provide training to the retailers as well as provide marketing support is really missing. Two other lessons from this model are that our courier companies should also use retailers to grow their business and similarly our banks should use popular retailers to grow their business overseas.

Related Posts Plugin for WordPress, Blogger...
Twitter Delicious Facebook Digg Stumbleupon Favorites More