Instore Takes a Pounding

Knowing what your customers want is key to the success of any business.  This is particularly true for so called “pound” shops; their customers are focused on value and price. 

The importance of this is perhaps reinforced by the tale of two retailers who operate within the value market.  Poundland has gone from strength to strength, as shown in earlier blog articles, and is set to open at least 30 new stores over the next 12 months.

InStore, on the other hand decided that their customers should move upmarket - and replaced the familiar £-stretcher fascia with the less familiar InStore fascia.

Q&A - What is meant by the production process?

Businesses provide goods and services.  To be able to do this, they need to be able to turn inputs into outputs. This is known as the production process.