Outline 3 HR methods
1. Recruiting the potential employee
NTUC Fairprice recruits ex-employees from GIANT by paying them a higher amount of salary. NTUC Fairprice recruits staff that is reliable and workers that has a sense of initiative. NTUC Fairprice will select the employees that is eligible for their management roles. They provide a grooming programme that allows new employees to sign up for a contract and will be guranteed with a management role in the future.
2. Training and Developing people
NTUC Fairprice provide trainings such as customer service, teaching the new staff on how to use the POS systems. Also, NTUC would explain to the new staff of the benefits that they will be entitled with. They would also update employees on their new policy on refunding or etc.
NTUC develop their employees to have a sense of responsibilty and initiative to help out in areas that they might not be in-charge of.
3. Compensating the employees
NTUC Fairprice would provide over time pay for their employees if they stay over for stock take purposes. During festive seasons, NTUC provide extra benefits for instant free shuttle bus or claming of transportation fees. NTUC will also provide employees with a yearly bonus and also fringe benefits for example, medical, dental, personal grooming,insurance , annual leave and even maternity leave.
By also providing free samples of new products for their employees, in return getting feedbacks from the employees of their newly launch products.
Sunday, June 7, 2009
Monday, June 1, 2009
This week we have decided to look at Carrefour which is present in 29 countries throughout the world with more than 12,217 stores, hypermarkets, supermarkets and convenience stores. Carrefour is the ranked the second biggest retailer in the world behind Wal-Mart.
Carrefour invests in low prices and generally their private label’s products are relatively lower in price compared to the other more established brands. For example in the household and home electronics products category, Carrefour’ private label; Firstline and Bluesky are lower in prices.
Carrefour set the prices of those products that are available in the market generally lower than their competitors regardless of whether it is during daily operation of during promotional period. This is supported in their refund policy that if the customers saw any retailers seeling the same products and brands lower than Carrefour than they can get back the difference from Carrefour.
Carrefour also offer rebates to their customers during their events and promotional period. Recently they have a 10% for their house brand products when the customers charge their bills to the POSB everyday cards on very Tuesday. This will offer price cuts to the customers directly and also increase the demand for the Carrefour.
Carrefour invests in low prices and generally their private label’s products are relatively lower in price compared to the other more established brands. For example in the household and home electronics products category, Carrefour’ private label; Firstline and Bluesky are lower in prices.
Carrefour set the prices of those products that are available in the market generally lower than their competitors regardless of whether it is during daily operation of during promotional period. This is supported in their refund policy that if the customers saw any retailers seeling the same products and brands lower than Carrefour than they can get back the difference from Carrefour.
Carrefour also offer rebates to their customers during their events and promotional period. Recently they have a 10% for their house brand products when the customers charge their bills to the POSB everyday cards on very Tuesday. This will offer price cuts to the customers directly and also increase the demand for the Carrefour.
Monday, May 25, 2009
This week we have decided to visit Market Place Singapore which is a part store brand of Cold Storage. Market Place is a full serviced retailer dedicated to offer the widest range of quality, good value and international merchandise to satisfy the daily needs of its target customers in a relaxed and pleasant shopping environment.
Merchandise Management
It is a process which the retailer offers the right quantity of the right merchandise in the right place at the right time and meets the company’s financial goals.
Market Place tried to order the right quantity by analysing their sales data. They analyse the sales performance of the previous year and the past few months of the current year. They compared the sales figures for the same particular month from last year data. Further more, they also look at the performance from the current first few months. From there, they can adjust the quantity ordered so that it will match the expected demands and there will be no shortage or excessive wastage in resources.
Category Management
It is the process of managing a retail business with the objectives of maximizing the sales and profits of a category.
Market Place categorised their groceries items into categories such as washing detergents, canned meats and toothpastes etc. Category management works for the Market Place by improving the relationship between them and the suppliers through the exchange of information. With the category management in place, the focus will centred around the effect of the total turnover of the category and not just looking at the sales of the individual products. So the suppliers are largely encouraged to suggest new product introduction and also to implement promotional activities. The expected result is a beneficial effect on the turnover and profit of the total category and it will benefits the shopper of that particular category. It will also in turn benefits the retailer as they would expected more shoppers and sales when the suppliers took the efforts to implement new products or promotional efforts.
Merchandise Management
It is a process which the retailer offers the right quantity of the right merchandise in the right place at the right time and meets the company’s financial goals.
Market Place tried to order the right quantity by analysing their sales data. They analyse the sales performance of the previous year and the past few months of the current year. They compared the sales figures for the same particular month from last year data. Further more, they also look at the performance from the current first few months. From there, they can adjust the quantity ordered so that it will match the expected demands and there will be no shortage or excessive wastage in resources.
Category Management
It is the process of managing a retail business with the objectives of maximizing the sales and profits of a category.
Market Place categorised their groceries items into categories such as washing detergents, canned meats and toothpastes etc. Category management works for the Market Place by improving the relationship between them and the suppliers through the exchange of information. With the category management in place, the focus will centred around the effect of the total turnover of the category and not just looking at the sales of the individual products. So the suppliers are largely encouraged to suggest new product introduction and also to implement promotional activities. The expected result is a beneficial effect on the turnover and profit of the total category and it will benefits the shopper of that particular category. It will also in turn benefits the retailer as they would expected more shoppers and sales when the suppliers took the efforts to implement new products or promotional efforts.
Market Place!
Neat and tidy store front !
Award the best retail concept for the year 2008!
Detail of shelving description in glass
Tidy and Classy shelves display
International brand bakery store
Tidy fruits section. Classy concept
Monday, May 18, 2009
Retail Strategy
1) Target Market
NTUC FairPrice general target market is at home makers who take care of necessities at home.
FairPrice Finest target market is groups of people who are more health conscious. Finest is also slightly targeting more at working professionals rather then housewives etc.
2) Retail Format
NTUC FairPrice has 4 different types of retail formats. Their 4 formats include Liberty Market, FairPrice Xpress, FairPrice Xtra Hypermarket and FairPrice Finest. These retail formats are located strategically all over Singapore with the number of outlets in Singapore itself exceeding 80 stores.
The store that we visited most recently was FairPrice Finest store. Finest is slightly different from the other Fairprice outlets because they offer more organic products. They have a stand alone Organic departments in their store.
3) Bases for building sustainable competitive advantage
NTUC FairPrice has three ways in building sustainable competitive advantage.
Firstly, is through having weekly discounts on their items. For example, FairPrice is currently having their 36th Anniversary offers on products now, purchase with purchase promotion meaning buy one get one free and FairPrice is providing a 5% discount on house-brand products. The prices in Fairprice are considered lower than the other competitors’ supermarket. Together with the weekly discounts offered, they can offer their customers with better deals.
Secondly, FairPrice understands and realises the demands of their target market hence, they also realise that majority of their customers are heartlanders, housewives. So they set up their stores in the heartlands which are more accessible. Fairprice also have many stores located at the different corners of Singapore. They have much more stores as compared to their competitors. This gives them an advantage as it provides easy and convenient purchases to people who are lazy to travel a further distance.
Thirdly, to keep their customers coming back to them, FairPrice have a customer loyalty programme which is called NTUC Link Points card which accumulates Link Points for customers to exchange their points for vouchers or certain products that are up for grabs during the month.
1) Target Market
NTUC FairPrice general target market is at home makers who take care of necessities at home.
FairPrice Finest target market is groups of people who are more health conscious. Finest is also slightly targeting more at working professionals rather then housewives etc.
2) Retail Format
NTUC FairPrice has 4 different types of retail formats. Their 4 formats include Liberty Market, FairPrice Xpress, FairPrice Xtra Hypermarket and FairPrice Finest. These retail formats are located strategically all over Singapore with the number of outlets in Singapore itself exceeding 80 stores.
The store that we visited most recently was FairPrice Finest store. Finest is slightly different from the other Fairprice outlets because they offer more organic products. They have a stand alone Organic departments in their store.
3) Bases for building sustainable competitive advantage
NTUC FairPrice has three ways in building sustainable competitive advantage.
Firstly, is through having weekly discounts on their items. For example, FairPrice is currently having their 36th Anniversary offers on products now, purchase with purchase promotion meaning buy one get one free and FairPrice is providing a 5% discount on house-brand products. The prices in Fairprice are considered lower than the other competitors’ supermarket. Together with the weekly discounts offered, they can offer their customers with better deals.
Secondly, FairPrice understands and realises the demands of their target market hence, they also realise that majority of their customers are heartlanders, housewives. So they set up their stores in the heartlands which are more accessible. Fairprice also have many stores located at the different corners of Singapore. They have much more stores as compared to their competitors. This gives them an advantage as it provides easy and convenient purchases to people who are lazy to travel a further distance.
Thirdly, to keep their customers coming back to them, FairPrice have a customer loyalty programme which is called NTUC Link Points card which accumulates Link Points for customers to exchange their points for vouchers or certain products that are up for grabs during the month.
Thursday, May 14, 2009
Thomson FairPrice Finest!
Thomson Plaza FairPrice Finest!
Section Selling All Organic Food
1st Retail Strategy - 36th Anniversary Discounts!
2nd Retail Strategy - Buy 1 Get 1 Free!
3rd Retail Strategy - 5% Discount On Housebrand!
A Staff In FairPrice Finest Uniform
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