What is Store Lifecycle Management?
SLM is an integrated, holistic approach to improve efficiency across a diverse business ecosystem.
How to Get Started
1. Identify Opportunities
Pinpoint impactful changes across operations, technology, and departments.
2. Design with Purpose
Transform layouts into seamless shopping experiences that boost efficiency.
3. Lead with Technology
Use a data-driven approach to stay agile and anticipate market changes.
The 6 Stages of the Store Lifecycle
1. Strategize & Plan
Select locations using in-depth market research, consumer analysis, and long-term capital budgeting.
💡 60% more likely success for new locations with thorough research.2. Design & Construct
Craft a store that reflects brand identity, with easy navigation, interactive displays, and optimized operational flow.
💰 Optimized layouts can save up to 15% in labor costs.3. Prep & Launch
Train staff for excellence and use soft launches to gather feedback and fine-tune operations before opening.
📉 Soft launches can reduce operational costs by 25%.4. Operate & Maintain
Use data-driven inventory management and customer feedback for continuous improvement and waste reduction.
♻️ Reduce waste by 30% and employee turnover by 40%.5. Redesign & Renovate
Periodically update the environment with new concepts and technologies to stay fresh and align with evolving trends.
6. Closure & Exit
Strategically plan closures to recover investments, preserve brand reputation, and inform future decisions.
💸 Well-planned exits can recover up to 40% of initial investments.The Measurable Benefits of SLM
Enhanced Customer Experience
Streamlining operations frees up staff to focus on customer service and build loyalty.
Data-Driven Agility
Real-time analytics allow for quick decisions to optimize everything from store location to performance.
Significant ROI
Optimize costs across procurement, distribution, store design, and workforce management to boost the bottom line.