Secrets of the success of the Choupette retail chain
What is an indicator of the success of a retail business? Expanding the geography of the brand? Increasing the network of stores? Partlyyes, these are unconditional factors, but a real indicator of successful work there is a good economic crisis, or rather the stability of the business to the "perfect storm", its ability to adapt to new realities. According to statistics, during the crisis, most retail chains lose both their stores and the stores of franchising partners. They simply do not have time to react to rapidly changing events for the worse.
A feature of the TM Choupette is its flexibility and the ability to move along the price segment scale depending on consumer demand. Being at the position of this scale in the "middle" segment, with the deterioration of the economic situation, Choupette shifts to the "medium plus" and "premium" segment, capturing this audience. Changing conditions lead to changes in the price assortment policy, otherwise the lack of flexibility may lead to the scrapping of the company. As the Development Director of TM Choupette tells Anastasia Vasilkova: «In 2016, we carried out a serious restructuring of the company. New product groups were introduced, we experimented with the fashion matrix, thus achieving the most perfect model for our consumer. This is a huge plus of the commodity matrix Choupette and its pricing policy. In addition, since the company Choupette is a Russian manufacturer, our import component consists only in components and fabrics, so a decrease in ruble prices (it depends on the exchange rate) for this part leads to a decrease in the overall price of the product. For example, at the beginning of 2017, we came out with a new collection that has an average price lower than the average similar price of last year.
However, even if it is very good to solve some problems without paying attention to others, in the end only half-measures will turn out, and not a comprehensive anti-crisis solution.
The company Choupette, being a network and having a concentration of its ideas at headquarters, faced a common ailment of all retail chains when there is a gap between what is developed in the central office and how it is implemented locally. In 2016, to bridge this gap, the online platform "Choupette University" was created, the meaning of which is to work with sellers of the network directly. As a result, a direct impact was achieved on the implementation of sales techniques in each trading floor. Thus, the anti-crisis measures taken in time proved to be effective, which was clearly confirmed by the financial indicators and allowed the retail chainChoupette to pass the year successfully.
According to the company's development director Choupette Anastasia Vasilkova: «In 2016, while most retail chains (of different orientation) suffered losses, reduced stores, our retail network not only passed this period confidently, but on the contrary, our franchising partners were able to increase the number of boutiques Choupette who is for one store, who is for two, and who is for three.
Of course, as for any other retail chain, quantitative development is important for Choupette and expansion by 25% is planned for 2017. But the brand also pays great attention to the qualitative growth of each store and considers it no less a priority. The areas of trading halls are expanding, a line of own shoes has been launched, thermal underwear has been added, plus the expansion of the size range and the addition of new positions to existing lines.
In 2017, the company will continue to expand its geography and strengthen its presence in the regions. In general, the brand is developing and is not going to stop there, at the moment the network has more than 90 stores in Russia, CIS countries, Switzerland, the USA, and there are also ambitious plans to enter TM Choupette and other foreign markets.