LUMINE introduces innovation to the retail and B2B channels
LUMINE’s latest contributions to the Japanese business landscape encompass, the work place, retail efficiency and the B-to-B community. Shaking up the status quo, three unique developments demonstrably change LUMINE’s approach to these core subjects.
(The article was published in the WWD.COM on 20 November,2017)
Achieving better work/life balance within the Japanese workforce contribution has inspired a new policy at twelve of the sixteen locations operated by LUMINE; these locations reduced opening hour now close a half hour earlier effective April 2017. The reasoning was well studied, recognizing that its core consumers are women in their twenties and thirties while their own staff is seventy percent women; by improving employee morale via more personal off time and improved workers’ lounges each staff member in turn provided better customer service. As brick and mortar retail has become more and more challenged by alternative purchasing channels, one of the most crucial and irreplaceable functions are establishing unique consumer relationships by store employees. Since the change, LUMINE has recorded increased sales grew in April on a year over year basis, while employee retention has increased since implementation.
Retail efficiency begins with meaningful and effective customer service. LUMINE through thorough analysis of past seasonal sales performances has shorten its mid summer promotional period; lopping off two weeks of discount selling. LUMINE found through better planning while simultaneously providing excellent customer service, consumers are more inclined to purchase at full price. The outcome? Consumers are at once more attuned to the urgency and scarcity of discounts while benefiting from improved client servicing, the value proposition of full price product offerings. Gross margin preservation has increased while sales have moved up 2.6% year over year during the abbreviated promotion period.
This February LUMINE will launch Retail 20/20 Forum Tokyo in collaboration with WWD an inaugural conference building upon past successful editions in New York, London and Beijing.
Tokyo’s global prominence in the fashion and beauty industries presents a unique opportunity to explore the challenges within the domestic Japanese retail market place; attendees will be top executives from Japan, the United States and Greater Asia. LUMINE will host the conference annually through 2020.