Insight Note: Lessons from the Ground: Riyadh, May 24

Lessons From The Ground (LFTG) are a 2-3 hours long closed roundtable gathering of top retail and F&B industry leaders to share real learnings and lessons from the ground.

The best part of the meetup is the free-flowing agenda to ensure high-quality discussions. In our meetups, we facilitate discussions around digitization in retail & QSR, operational excellence, visual merchandising best practices, customer experience, hiring & retaining talent, and other related aspects.

In May, 2024, we hosted prominent leaders from Riyadh’s bustling retail and f&b scene. We were joined by retail and food service leaders from Alamar Foods, Domino’s Pizza, ALBAIK Food Systems, Alshaya Group, Landmark Arabia, Majd Food, Nagwa Boutique & Café, SACO, Sisban Holdings, Tamimi Markets and more…

Here’s what retail and QSR leaders shared.

Focus and Plan on the NBP Inventory for Maximizing Sales (New, Base, Promotions)

• Regularly analyze market trends and consumer preferences to identify potential new products. Test them in select locations before a full rollout to gauge customer response and make necessary adjustments.
  
• Use automated inventory management systems for real-time tracking to maintain optimal stock levels and avoid stockouts and overstocking. Regularly review sales data to identify high-performing and low-performing base products and adjust inventory levels accordingly.
  
• To attract customers, Plan promotions around holidays, festivals, and other significant events. Leverage data analytics to identify the best times and products for promotions. Ensure consistent VM implementation across locations.

Providing Employees with Learning Opportunities and a Career Growth Path is Key to Retention

• Investing in employees’ professional development through regular training programs, workshops, and courses enhances their skills and increases job satisfaction and loyalty.
  
• To motivate employees, create clear career paths with achievable milestones, and provide opportunities for internal promotions.
  
• Encourage a culture of continuous learning and development by offering access to interactive learning and fostering a supportive environment that values and rewards growth.

Minimize Distractions and Maximize Time on the Shop Floor by Controlling Communication to Stores

• Streamline communication by consolidating messages into daily or weekly updates rather than frequent, scattered messages.
  
• Utilize mobile apps to ensure critical information is easily accessible and can be reviewed quickly by store managers.
  
• Prioritize information to highlight urgent and high-impact updates first, and use clear, concise language to avoid confusion.
  
• By controlling the flow and clarity of communication, store employees can spend more time focusing on customer service and sales activities on the shop floor.

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