The Interim Register Blog

Internet Retail Expo 2012

Posted on 26 March 2012 | No responses

After visiting the Internet Retailing Expo last week I got a great insight into new ways for companies to expand their customer reach and make their P&L a lot more attractive to the watchful eye of the stock market.

A number of multichannel developments were discussed; companies have to optimise their customer experience by offering a quick and easy way to buy online. Mobile commerce was the focus, when 14% of all UK sales now come from mobile or tablets devices. There are many ways to enhance the multichannel customer experience, two in particular caught my eye.

Fits.Me is an entrepreneurial device which claims to reduce the need for product return, therefore lowering the cost to the company and heightening customer satisfaction.  This intricate gizmo allows the consumer to visualise exactly how “that medium sized dress” would look on them. The customer takes their own measurements in accordance to the fitting chart then they can choose the fit they want that will suit their style. Fits.Me founder Heikki Haldre conducted insightful market research  which highlighted that 69% of returns occurred because of the lack of purchase information available to the customer, and when returns occurred 23% of customers would stop buying from the organisation all together, both online and In store. A working model of Fits. Me was showcased on the Thomas Pink website . I believe it is a recipe multichannel success  for fashion retailers who solely trade online.

The second concept came from a new company called The Mobile Money Network . An organisation who promote the “Simply Tap“concept. A simple but unique action which is set to revolutionise shopping, allowing people to shop easily and anywhere! Having recently partnered with High fashion retailer Pretty Green, Mobile Money Network knows what retailers want, with the ability to increase ROI on advertising and enhance sales conversion. The customer prior to using the service registers their card details then when they see that “must- have” item they can tap and buy. The innovations do not stop there, not only can people buy on the website, but they can buy from virtual stores and advertising. A great example of this can be highlighted by the company’s success with Thornton’s High street advertising for Easter Eggs .  Utilising the growing popularity of the QR code, they have enabled the “Simply Tap” app to allow the person to purchase quickly and easily from external advertising campaigns.

This is only a taster of things to come in multichannel, and I am sure that I will have many more to comment on during this year!

For now, it would be great to hear your thoughts.

The Perfect Candidate….is there such a thing?!

Posted on 20 March 2012 | 5 responses

We hear constantly about the high levels of unemployment in the UK due to obvious economic conditions currently affecting us. At the start of March, unemployment affected 2.67 million of the British public according to the Office of National Statistics.

Thinking about this and the world of recruitment do both recruitment consultants, such as myself, and the end clients, specifically the hiring managers, look for a so called ‘perfect candidate’ due to the vast amount of professionals looking for their next assignment?

Are expectations of the skill sets and previous experience that we expect to see on a CV of a candidate for a role becoming almost too exact? Specifically in the interim and contract markets, are we basically saying that we need candidates to have worked on an identical project in a similar organisation as to the one we are working for?! Should both consultants and hiring managers look more at personal traits and transferrable skills rather than the detail of a previous project delivered?

It would be interesting, and great to hear from both hiring managers, and candidates of their thoughts on this point?

Shaun Woodcraft – Head of Financial Services

UK Budget 2012 – The End of Low Value Consignment Relief for E-tailers?

Posted on 12 March 2012 | 1 response

Coming up to the 2012 UK Budget I felt it worth mentioning a change to UK VAT legislation specifically regarding Low Value Consignment Relief (LVCR).  It is an issue which affects a number of my clients based in the Channel Islands which supply goods to customers in the UK and indeed interim managers and consultants working on behalf of these clients.

Background:
LVCR was set up in the early 1980’s mainly due to the fact that the cost of collecting VAT on small items brought into the UK from overseas outweighed the value of the tax actually collected.  However, the recent boom in internet shopping has led to a number of businesses either relocating current or setting up new operations in the Channel Islands with the express intent of exploiting this tax loophole in the distribution of low value goods such as CD’s & DVD’s.  

Until November 2011 tax was not required to be paid on parcels with a value of less than £18, this threshold was subsequently reduced to £15 on 1st November 2011.  In general terms, the UK government has concluded that the current state of affairs isn’t quite fair for UK mainland based businesses (particularly from the SME space) which compete with businesses operating from the Channel Islands and so the plan is to remove this relief completely as of 1st April 2012.

Those Affected:

• In the Channel Islands the likes of Amazon / IndigoStarFish, Play and The Hut amongst others all have operations which may be regarded by the government as exploiting the loophole in the mass distribution of items such as CD’s and DVD’s and inevitably will be affected.
• Approximately 650 people are employed in the fulfilment industry (receiving, warehousing, repackaging and despatching of goods) on Guernsey alone which as an island has a turnover of circa £300million in this area.
• Mainland based businesses should (if the measures are successful in delivering what the government claim) benefit greatly although perhaps it’s too little too late for some?
• The UK / government – In 2005 the UK did not receive something like £85million in VAT because of LVCR – this figure was £130million by 2010.  The initial threshold change in November 2011 from £18 to £15 is estimated to realise something like an additional £15million over the next few years.

Further Reading / Supporting Information:

http://www.bbc.co.uk/news/world-europe-guernsey-12835587

http://www.bbc.co.uk/news/world-europe-guernsey-12670129

http://www.hm-treasury.gov.uk/press_122_11.htm

http://www.hm-treasury.gov.uk/d/vat_low_value_consignment_relief.pdf

Matthew Hassall leads the Supply Chain & Logistics practice at specialist interim management and consultancy provider The Interim Register.

Smart from the Start

Posted on 2 March 2012 | 2 responses

Following on from my blog of a few weeks ago, on driving the UK Smart Meter Roll Out:

http://blog.theinterimregister.com/?p=156#

There seems to be some scepticism in the market as to the real consumer benefits, as well as key drivers and motives of the Big 6.

However in essence I still think that done right Smart Meters will be of benefit to domestic customers.  Bringing to an end over-estimated billing and laying the control with the consumer as to how they manage their consumption can only be a good thing.  In the current economic climate giving those customers who wish to the means to more efficiently reduce their monthly bills has great merit.

Having said that, given the costs involved for the Big 6 to implement such a roll out, could it be the door is open for a new entrant to the market to offer a ‘SMART FROM THE START’ solution, not bound by the same organisational constraints of big suppliers?

This would provide a viable solution to the growing number of consumers who see the value in Smart Metering to get the ball rolling, and who knows it may provide the rest the inspiration they need………….

 Steve Pownall heads up the Utilities team at The Interim Register.

The Interim Register – Executive Search Division

Posted on 21 February 2012 | No responses

The Interim Register – Executive Search Division:

Having been in operation for some time now, we thought it time we introduced The Interim Register’s Executive Search division. The Executive Search service here at The Interim Register has been developed in response to the needs of our client base and by the requirements of our network of highly capable individuals who seek ever more challenging positions within today’s leading companies.

Non-Execs, C-Level Executives & Senior Management:

Working alongside this highly developed network of Non-Execs, C-Level Executives and Senior Managers we proactively seek out suitable opportunities within a diverse range of companies and sectors.

• Chairpersons
• Non Executive Directors
• C-Level Executives
• Senior Management and Change Specialists

 Search & Selection and Interim Management:

The Executive Search Division has been able to develop our service by establishing an experienced team dedicated to the delivery of Permanent, Search & Selection Assignments. As such, The Interim Register now offers a full range of services to meet with the needs of our clients in today’s ever more challenging economy; from the provision of short-term or part-time executive resource to long-term Interim Management as well as the effective delivery of permanent, search & selection assignments.

Sector & Industry Focus:

As part of our established network of industry professionals, it is likely you will already know that we have specialist teams focused on the delivery of services to the following sectors; if not then please do join our group (The Interim Register) in order to stay abreast of industry news as well as permanent and interim opportunities in your chosen market: -

• Financial Services
• Retail (Food & Non-Food)
• Fashion
• Procurement
• Supply Chain
• Telecoms & Utilities

The Executive Search team are now able to expand upon this sector specific knowledge by offering Executive Level Interim Management resource and Executive Search to organisations operational in the following sectors;

• Industrial & Engineering
• Energy & Renewables
• Life Science & Healthcare
• Retail & Consumer
• Business Support Services
• TMT (Technology, Media & Telecoms)

It will not have escaped your attention that these markets reflect those industries that have been indentified by the UK Government as being those that are key to a strong, sustainable and balanced growth for the UK economy. Those industries listed represent some of the most exciting and forward thinking sectors in the UK.

Private Equity & Venture Capital:

They are also some of the areas that are receiving some of the largest amounts of public and private funding and due to the very nature of the network of individuals we represent; this is enabling us to expand our relationships within the Private Equity and Venture Capital community.

Open Forum:

We would welcome your thoughts on The Interim Register’s Executive Search Division and indeed, if you are an individual operational in this space, then we would be delighted for you to join The Interim Register Group on LinkedIn.

• Please also feel free to let us know your thoughts on the service you currently receive at this level; good, bad or indifferent?

• In addition, we are all acutely aware of the challenges in today’s economy but we would like to hear from those individuals who are currently experiencing positive growth in their sector or those that are currently experiencing positivity in the jobs market; where is there currently positive activity? What positive signs of growth are there either within your skill set or industry sector? Share your positive (and negative if necessary) views in order that other members of TIR community are aware of those sectors that are buoyant – and in order that they are not only hearing it from us!

Retail Internationalisation – Friend or Foe?

Posted on 13 February 2012 | No responses

Retail has been a difficult place over the last couple of years, with each fashion retailer trying to differentiate from the rest and create Unique Selling Point in the UK retail market. Thus by enhancing their multichannel offerings through strengthened E and M commerce sites, providing exceptional service such as “click and deliver” in less than 90 minutes. However, despite these technological achievements, some fashion retailers struggle to gain custom in the current trading environment.

Recent casualties such as Jane Norman, Barrett’s Priceless and La Senza have fallen into administration, whilst mass market brands such as George, and luxury brands like Apsinal of London, are now looking outside of the UK to offer solace from poor trading results within the UK. Even market UK market leaders such as Arcadia Group are now tightening the purse strings on UK expansion, and consolidating assets to lessen cost and maximise margins where possible.

Recent studies by A.T. Kearney in the Global Retail Development Index 2011, highlighted the attractiveness of Latin America, Russia and South Korea in 2011/2012 amongst other strengthening economies.

Whilst retailers such as Mothercare diversify further away from the strained UK market and expand into more lucrative international markets such as South America ( now accounting for 20% of total revenues), the question can be asked, how will the UK make itself attractive again for investment?

Investment is still trickling into the UK with companies such as Victoria Secrets (owned by Limited Brands) officially opening its doors on London’s Bond Street, in August 2011. Where as other designer retailers take a different approach opting for store in store distribution concepts to increase market coverage.

With an array of fashion and lifestyle retailers looking to sell their products in emerging markets, is international development the best strategy for every retailer on the market?

After speaking to a number of my interim managers and consultants who are experts in international Franchise and Distribution Business development, similar opinions are voiced.

“Companies have to have a solid brand identity to emerge victorious in international markets. Brand perception is important as well as customer following is too.” 

“Companies rush into markets too quickly thinking that their product will sell because it looks ‘nice’, they do not ask for help from people who have been there and done that, therefore making costly mistakes.”

Tesco’s departure from Japan in August 2011 after 8 years of struggled trade accentuates this. Therefore, Internationalisation does not seem to be a “one-size fits all” model, careful consideration is needed to develop fashion retailers brands outside of the company’s comfort zone.

NEW ROLE – Trainee Recruitment Consultants

Posted on 6 February 2012 | No responses

Trainee Recruitment Consultants

Starting base salary up to £18k rising to a potential £25k by the end of year one. OTE of c£40k year one

Based Manchester or Leeds

Trainee Recruitment consultants will be of graduate calibre, self motivated and enjoy a fast paced working environment. Successful applicants for the role will be polished, professional and articulate as you will be dealing with senior level executives.

You will be hungry for success, resilient and motivated by competing in a consultatively led but sales driven environment. Client and Candidate contact form a large part of the job with much of this initially done via the telephone thus you must be comfortable on the phone as well as face to face.

A structured training and mentor programme, along with a range of fun and exciting sales incentives and share option scheme await the successful applicants.

No previous recruitment experience is required however you must be able to demonstrate a drive and resilience to succeed ideally gained in a sales environment.

To find out more about the recruitment brands within our group visit www.nurtureinvestment.com.  Immediate vacancies exist within The Interim Register

To apply please send your CV and a covering letter to jason.martin@nurtureinvestment.com or telephone 0845 094 6005

Has banker bashing resulted in business bashing?!

Posted on 3 February 2012 | 1 response

 Is the current fashion of banker bashing sending shockwaves throughout the core of the British business industry?

 Whilst most of the press, industry peers and the general public have had their say on both the plight of Stephen Hester and dare I say Sir Fred Goodwin,Britainlost out on a £10 billion trade deal with the Indian Air Force. Hester’s bonus was in the region of £1 million pounds…maybe our efforts as a Government and Britain as a business entity would of been better spent on securing £10 billion for our current fragile economy?!

 Obviously this brings up a number of issues. Firstly Hester’s bonus. Should it of been paid? On one side Hester has hit predetermined objectives which means he is on track, as set out by Government made targets. For example, out of every British pound lent to small and medium sized businesses, 40p is from RBS. There are a lot of lenders in theUKso that is a very large portion of the market that RBS are supporting!

 On the other, we the taxpayers handed over £45.5 billion of our hard earned tax money to stop RBS going under and their share price is lower now then what it was when Hester took over. It is an interesting argument!

 This develops onto the discussion point of doesBritainas a whole; despise the idea of making money? Do we not want to breed the entrepreneurs of the world, like the Richard Branson’s, like the Bill Gates who want to get to the top. If there is no reward for being the best in your company and ultimately getting the highest job in the pyramid, why bother? Where is the motivation I ask? To make sure there is balance, do we need incentives for those already earning salaries in excess of £1million?

 Going back to the start of my initial question, is banking bashing causing a detrimental effect for business inBritain? Are the ballot boxes driving the government’s actions rather then what is actually for the good ofBritainas a whole?

 It would be great to hear people’s views from a variety of backgrounds and debate a number of interesting, if not provocative areas of interest.

Shaun Woodcraft – The Interim Register Financial Services Consultant

The Agency Workers Directive – How it affects you.

Posted on 27 January 2012 | 1 response

Driving the UK Smart Meter Roll Out?

Posted on 20 January 2012 | 2 responses

My name is Steve Pownall, I run the Utilities desk at The Interim Register.  After reading the following Which? Report on the BBC earlier this week, and subsequent discourse, I have been thinking……….

WHO should be the key driver towards a successful Smart Meter Implementation?

HOW can we create a Blue print to be admired and replicated throughout the world?

http://www.bbc.co.uk/news/uk-16565100

In my opinion far from having this blue print, at the moment I see obstacles, overcoming which are paramount.

In other countries it is the Distribution Network mobilising changes, although the Which? Report said the government, rather than energy companies, should install the ‘smart meters’ to keep costs down.

However, DECC maintain the Utilities are in the best position to carry out the work and the competition will ensure savings are past down to consumers.

As far as I can see there is no transparent mechanism in place to ensure this happens and past experiences indicate competition does not work effectively in this market and cannot be relied upon to keep prices down.

This perceived/apparent lack of trust in my opinion is where the problem lies, as in order to realise any substantial benefits depend upon widespread consumer up-take, to effect a shift in consumer behaviour, which is ultimately how the success of a Smart Meter roll out will be measured.

Given your experiences over the past few years, where do you think the responsibility should fall?

Thanks
Steve

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