Strategy (6)
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Retail Navigator Analysis
Harrods (Strategy)
Harrods has sought to add products and brands to the portfolio on a regular basis to inject interest and keep the offer fresh. The mix includes an increasing proportion of younger, high-fashion labels. Harrods launched its new global ecommerce platform in February 2020 in partnership with Farfetch.
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Retail Navigator Analysis
Ecommerce at Harrods
Harrods has partnered with Farfetch on the development of a new global website which was launched at the beginning of 2020.
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Retail Navigator Analysis
Technology strategy at Harrods
Harrods was slow to embrace digital and multichannel technologies, however developments from the likes of Farfetch, Burberry and Net-a-Porter led to Harrods beginning its own IT transformation programme. The retailer has also proven itself open to technology innovation such as experiential marketing, facial tracking and QR codes.
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Retail Navigator Analysis
Supply chain at Harrods
Harrods’ supply chain strategy has been overhauled to support multichannel growth, with an aim to consistently deliver the best possible experience for its customers digitally and physically.
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Retail Navigator Analysis
Stores at Harrods
Harrods’ Knightsbridge flagship has recently undergone a £200m three-year investment project, including the creation of more luxury departments, shop-in-shop formats, and the introduction of additional prestigious brands. Keeping pace with trends, Harrods launched a standalone beauty and wellness venture, H Beauty, in 2020, with five stores now trading.
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Retail Navigator Analysis
Customer and marketing at Harrods
As a heritage British brand, Harrods has been benefiting from heightened consumer interest in this area, and the extensive third-party brand range includes an increasing proportion of younger, high-fashion labels to cater for a lowered target age range. Looking to drive further demand from Asian customers, Harrods is localising signage and product labelling and investing more in Chinese social media including WeChat and Weibo.