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VALUE FOR MONEY STRATEGY

VALUE FOR MONEY STRATEGY. Presented by: Rashmi Tak. What do we mean by value for money? – getting the balance right. Company profile about Littlewoods plc .

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VALUE FOR MONEY STRATEGY

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  1. VALUE FOR MONEY STRATEGY Presented by: RashmiTak

  2. What do we mean by value for money? – getting the balance right

  3. Company profile about Littlewoods plc • It is the largest privately owned family company in the United Kingdom, with shareholder’s investment valued at £998.3 million = 698 crore rupees. • Started in 1923 as a football pool business by John Moores and two partners. • retail in 1932 with a mail order. • In 1937 they opened the first Littlewoods chain store.

  4. By the year 2001 ,181 Littlewoods Index catalog shops. • 24 Littlewoods discount stores featuring variety of quality goods at discount prices. • The company was also involved in internet retailing through e-commerce sites. • To appeal to women, Littlewoods Mail Order Stores were begun in 1932. logical diversification.

  5. Chain store retailing in mid1930’s . • By 1950 ‘s there were about 52 Little woods stores. • In 1953 Moores realized the advent of credit-buying society. • In 1990 it became a sophisticated and automated credit system depended on telephone orders.

  6. In 1990’s although the existing recession Littlewoods produced a pretax profit of 46%. • it had to face competition from National lottery that opened in 1994 and also the death of Sir John Moores. • Family feuding and interference in the management led to the takeover bids. • However in 1995 it agreed not to sell off and appointed a new chairman James Ross.

  7. It shifted from retail to mail order (direct mail home catalog). • It tried to buy Freeman’s ,Sears PLC’s mail order operation in the year 1997 but it was trumped off. • High street stores were being hard hit by competition from discount chains as New Look, Matalan, and Peacocks. • Had trading loss of £15.6m= 11 crore • In 2000 Barry Gibson appointed as group chief executive in 1997 Littlewoods would adopt a “value for money strategy”. • With the prices of some clothing lines reduced by more than 40 percent.

  8. prices were 15% lower in the Littlewoods Spring catalogue. • As a whole, the group posted profits of £141m, having made £155m out of selling off the pools and betting business, and £23m from other disposals. • Interest free credit for 52 weeks.

  9. THE COVER PAGE OF THE WEBSITE OF LITTLEWOODS

  10. Benefits provided by Littlewoods to its customers • Shopping goods directly from home. • All goods from fashion to electrical • Shop for jewellery, nursery goods and sports equipment including all top brands. • Provide discount vouchers for providing additional savings on products with money saving discount and promos. • Facility of ordering free catalogue.

  11. site also features a bargain section and a great gift finder. • LW home shopping have £15 off on their first order. • LX Direct stores show stock and delivery availability. • LW home shopping all orders are delivered fast and free.

  12. How Littlewoods Improved its SCM Problem : overstocking problems in supply chain management • Solution: • Introduced web-based performance reporting system. • Enabled merchandising personnel to make more accurate stock, sales and supplier decisions. • Introduced web based performance reporting system

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