Festive season is over now back to business.
While most people contemplate, agonise and regret about the their spending over the period, it's time for the high street to reveal winners and losers.
M&S is still breathing fire, Stuart Rose (CEO) has for the first time has conceded it is on a state of 'recovery'. He has for long avoided that word charging that the company 'is out of the intensive care'. This for a man who has just recently been under pressure for BHS's take over bid.
M&S strength was assisted by its impressive online sales especially on women's clothing (now that's a new one!)the same reason why NEXT is right behind them. Like for like sales rose by 5.6 per cent more than analysts expectation - 5 per cent. Suddenly I'm not hearing anything about BHS no more - Phillip Green is quiet for now. The morale is high especially since staff are also having a slice of the good fortune (Shame on all you fat cats!)
It is not all rosy on the high street even though sales within the retail sector were high - Jessops has some bad news and I think it will get tougher. The photographic equipment store apparently had problems with deliveries - in December of all the months! I think they should look at the competition - the market is now wide. Change of strategy needed here? I mean I got a mobile phone that can take pictures upload them on the computer and they are as good as anything else - the only problem for Jessops - I don't need to pay for it. (Maybe they should discover a camera which can also play music and access the internet!)
HMV is another store that is suffering music sales are not doing well - people buy singles online (or illegal downloads) therefore album sales are not the in thing.
Call it what you may but I have come to believe in the performance measurement metrics that have for long been kind of ignored in the Kenyan market. Although looking at Safaricom's website I notice they have an opening that has something to do with the Balanced Scorecard - interesting. I remember long time ago someone in the press accused individuals going abroad and thinking everything they learn there is applicable in the Kenyan context. That is a universal thought one of my lecturer's here believes the Chinese economic boom is a bubble - wait till this whole mob of Chinese students stream back to China to 'manage'.
Positioning and re-positioning - is that not a good resolution this year implement my recovery plan.
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