Strategy (6)
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Retail Navigator AnalysisSelfridges (Strategy)
Sustainability is a key element of Selfridges’ strategy over the next five years and the retailer has bold ambitions to “reinvent retail”, with its purpose being to “imagine and create a sustainable future for our customers”.
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Retail Navigator AnalysisEcommerce at Selfridges
As the £4bn acquisition of the Selfridges Group formally completed in August 2022, new owners Central Group and Signa Holdings underlined their omnichannel ambitions for the department store business. Selfridges’ ecommerce platforms, which “draw over 30 million online visitors monthly and ship to over 130 countries worldwide”, are being integrated with those of its new owners and omnichannel is seen as a big opportunity for the enlarged business.
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Retail Navigator AnalysisTechnology strategy at Selfridges
Selfridges invested £40m in its website over the five years to 2019 to beef up its online offer and compete with innovative pureplays like Farfetch. Chris Shaw joined Selfridges as chief information officer in August 2020 to support the department store retailer in making “fundamental changes” which will “ensure [it is] fit for purpose and the future”.
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Retail Navigator AnalysisSupply chain at Selfridges
Selfridges has been driving a consistently seamless distribution process right across the business. This has become increasingly important as the online operation has been ramped up in recent years. Fulfilment is a key focus for the business.
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Retail Navigator AnalysisStores at Selfridges
Selfridges’ Oxford Street flagship is ranked among the best department stores in the world, famous for its retail theatre, extensive offer and high-profile events. Its new owners are planning a revamp of the 580,000 sq ft flagship from 2022, including a new hotel and foodhall upgrade.
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Retail Navigator AnalysisCustomer and marketing at Selfridges
Selfridges has put innovation at the heart of its brand strategy. This includes innovation in brands and product, customer experience and service. This has led to Selfridges becoming a trend-setter and it is fighting hard to keep that image.
