Our vision is to make Bonmarché the best place for feel-great fashion that real women love.
Our strategy focuses on five growth drivers, underpinned by our People, which are designed to help us grow profitable sales by gaining market share. They are:
1. Product Proposition
We want to increase the attractiveness of our brand to win new customers, whilst retaining existing ones, led by a continually improving product proposition. We are using a single customer profile – ‘Lisa’ – to clarify understanding of our target customer for planning purposes. We aim to modernise our offer and develop a product DNA that resonates with Lisa and increases the breadth of appeal in our ranges. Our plan is to develop a clearer sense of ‘what we are known for’ to attract new customers and focus on market share growth in these areas.
Our Bonusclub provides us with a well-established base of loyal customers – but we have an opportunity to improve it. Our aim is to move from a discount-driven store based scheme into a more broadly based multi-channel one, which truly recognises our most loyal customers by tailoring rewards to them and providing more effective personalisation. Bonusclub also provides us with a rich source of data and gives us an effective way to engage with our customers. We will look to make more effective use of this data to make better informed decisions.
We want to gain the benefit from the channel shift towards online shopping and use our website www.bonmarche.co.uk to enhance and complement our customers’ interaction with Bonmarché, whether they ultimately buy in stores or online.
Our focus is on developing our online offer and providing a better online experience. We will look to make continuous improvements to the customer journey so that it is easy to shop and we will introduce an engaging online catalogue to help with this. We recognise the need to drive more profitable customer traffic to our website and want to increase the effectiveness of our online marketing to do so. We also want to strengthen our offline marketing, such as our catalogue, as we know this can be a powerful driver of traffic to the site.
It’s important we make our stores as appealing and easy to shop as they can be, so that they enhance the qualities of our products and form part of a seamless customer journey. We have restructured our Retail field team to support this, so that we can focus on improving our execution of retail disciplines and implementing our modernisation plans. We will also look to drive benefits through our in-store ordering service in all stores and by using footfall counters as a diagnostic to improve the conversion of store footfall to sales. Our targeted new store opening programme will continue with approximately 10 new openings per year, net of closures.
5. Systems and Processes
We want to modernise our systems to create seamless end-to-end processes for our colleagues and a seamless journey for our customers, regardless of channel. The programme to replace our Enterprise Resource Planning (ERP) system is progressing and, in addition to the technical aspects of this work, we are focusing on organisational and process development too. This approach will help us to drive benefits from the business change, such as improved product availability, better product planning, and enhanced efficiencies in our teams.
Our five strategic growth drivers are underpinned by our People. Our ambition is to develop a workforce that understands, and is aligned to, our strategy – and works cohesively to implement it. Our intention is that we work in such a way that ultimately results in customers who are so passionate about the brand that they become brand ambassadors, coming back to Bonmarché and recommending us to new customers.
For further information on our strategy, see pages 10 & 11 of The Bonmarché Annual Report 2017.