Harvard Case - 759 Store: Returning to Its Competitive Roots?
"759 Store: Returning to Its Competitive Roots?" Harvard business case study is written by Ronald Lau. It deals with the challenges in the field of Operations Management. The case study is 12 page(s) long and it was first published on : Dec 11, 2019
At Fern Fort University, we recommend a comprehensive revitalization strategy for 759 Store that focuses on leveraging its strengths in operations strategy, supply chain management, and customer experience to regain its competitive edge. This strategy involves a multi-pronged approach encompassing product development, digital transformation, operational efficiency, and strategic partnerships.
2. Background
759 Store, a Hong Kong-based supermarket chain, faced declining sales and profitability due to increased competition from established players and the rise of e-commerce. The case study focuses on the challenges faced by the company's CEO, Mr. Lam, who needs to find a way to revitalize the brand and regain market share. The main protagonists are Mr. Lam, the CEO, and his team, who are responsible for developing and implementing the company's turnaround strategy.
3. Analysis of the Case Study
Competitive Analysis: 759 Store faces intense competition from established players like ParkNShop and Wellcome, who enjoy economies of scale and strong brand recognition. The rise of online grocery platforms like HKTVmall further intensifies competition, offering convenience and competitive pricing.
SWOT Analysis:
Strengths:
- Strong brand recognition in Hong Kong
- Expertise in operations strategy and supply chain management
- Focus on fresh produce and value pricing
- Strong customer loyalty among price-sensitive consumers
Weaknesses:
- Limited product selection compared to competitors
- Lack of online presence and e-commerce capabilities
- Inefficient inventory management and logistics
- Outdated store layout and customer experience
Opportunities:
- Expanding into new markets and product categories
- Leveraging technology and digital transformation to enhance customer experience
- Building strategic partnerships with local producers and suppliers
- Implementing lean manufacturing and Six Sigma principles to improve operational efficiency
Threats:
- Continued competition from established players and online platforms
- Rising costs of raw materials and labor
- Economic uncertainty and consumer spending patterns
Strategic Framework: 759 Store should adopt a competitive advantage strategy focused on differentiation through product development, customer experience, and operational efficiency.
4. Recommendations
1. Product Development and Innovation:
- Expand product selection: Introduce new product categories, including organic and specialty items, to cater to a wider customer base.
- Focus on private label brands: Develop high-quality private label products to offer competitive pricing and enhance brand differentiation.
- Implement a product lifecycle management system: Track product performance and identify opportunities for product development and innovation.
2. Digital Transformation:
- Develop a robust e-commerce platform: Offer online ordering and delivery services, integrating with existing inventory management systems.
- Implement mobile payment options: Enhance customer convenience and streamline checkout processes.
- Leverage data analytics: Analyze customer data to personalize promotions and improve product recommendations.
3. Operational Efficiency:
- Implement lean manufacturing principles: Optimize production processes, reduce waste, and improve overall efficiency.
- Adopt Six Sigma methodology: Identify and eliminate defects in products and processes, ensuring consistent quality.
- Optimize inventory management: Implement Just-in-Time (JIT) production and Materials Requirements Planning (MRP) to minimize inventory holding costs and improve stock availability.
4. Strategic Partnerships:
- Collaborate with local producers: Secure access to fresh, high-quality produce and support local businesses.
- Partner with delivery platforms: Leverage existing delivery networks to expand reach and enhance customer convenience.
- Explore joint ventures: Collaborate with complementary businesses to offer bundled services and expand product offerings.
5. Basis of Recommendations
Core Competencies and Mission Consistency: These recommendations align with 759 Store's core competencies in operations strategy and supply chain management, while also reinforcing its mission of providing value-for-money products and services.
External Customers and Internal Clients: The recommendations address customer needs for convenience, quality, and value, while also improving the working environment and efficiency for internal staff.
Competitors: The proposed strategies aim to differentiate 759 Store from competitors by offering a unique combination of value pricing, product selection, and customer experience.
Attractiveness: The recommendations are expected to improve profitability through increased sales, reduced costs, and enhanced customer loyalty.
Assumptions: These recommendations assume a stable economic environment and a willingness from 759 Store's management to invest in technology and process improvements.
6. Conclusion
By implementing these recommendations, 759 Store can leverage its strengths in operations strategy and supply chain management to regain its competitive edge. The focus on product development, digital transformation, and operational efficiency will enable the company to attract new customers, enhance customer loyalty, and improve profitability.
7. Discussion
Alternatives: 759 Store could consider focusing solely on price competition or expanding into new markets without addressing operational inefficiencies. However, these alternatives carry significant risks and may not be sustainable in the long term.
Risks: The proposed strategy involves significant investment in technology and process improvements. There is also a risk of cannibalizing existing sales through the introduction of online channels.
Key Assumptions: The success of this strategy depends on the company's ability to effectively implement the proposed changes and adapt to evolving market conditions.
8. Next Steps
Timeline:
- Year 1: Implement digital transformation initiatives, including e-commerce platform development and mobile payment options.
- Year 2: Introduce new product categories and private label brands, focusing on innovation and quality.
- Year 3: Optimize operations strategy and supply chain management, implementing lean manufacturing, Six Sigma, and JIT production.
- Year 4: Expand into new markets through strategic partnerships and joint ventures.
Key Milestones:
- Launch of e-commerce platform
- Introduction of new product categories
- Implementation of lean manufacturing and Six Sigma
- Establishment of strategic partnerships
By diligently executing this revitalization strategy, 759 Store can return to its competitive roots and secure a sustainable future in the dynamic Hong Kong retail market.
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Case Description
This case traces the journey of 759 Store, a chain store selling groceries and snacks in Hong Kong, from its inception in 2010 to 2019. After many years of rapid expansion, it began to experience difficulties amid a deteriorating retail business environment in Hong Kong. Management would need to rethink its business strategy and make major changes to turn the business around.
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