{"id":3948,"date":"2013-12-02T22:00:55","date_gmt":"2013-12-02T22:00:55","guid":{"rendered":"https:\/\/www.blueeyedsun.co.uk\/blog\/?p=3948"},"modified":"2020-04-20T06:56:59","modified_gmt":"2020-04-20T05:56:59","slug":"16-retail-lessons-i-learned-from-liberty-of-london","status":"publish","type":"post","link":"https:\/\/www.blueeyedsun.co.uk\/blog\/16-retail-lessons-i-learned-from-liberty-of-london\/","title":{"rendered":"16 Retail Lessons I learned from Liberty of London"},"content":{"rendered":"

\"Liberty<\/a><\/p>\n

Britain\u2019s great iconic retail emporium, Liberty of London, and it’s staff were the stars of a fascinating documentary giving a unique insight into modern retail.<\/p>\n

Blue Eyed Sun\u2019s designer and co-founder, Jo, had her very first job was at Liberty. At fifteen, she joined the Norwich branch as a Saturday girl on work experience and was later a sales & display assistant at Liberty in York. She advised customers in the dress fabric department and cultivated her love of fabrics and craft that influence her work to this day.<\/p>\n

Arthur Stuart Liberty opened the shop in 1875 and changed Britain\u2019s shopping landscape forever pioneering cutting edge designs and textiles. Operating from a unique grade II listed Tudor Building on London\u2019s Great Marlborough Street, Liberty of London has always been famous for its oriental rugs, eclectic antiques and liberty print fabrics.<\/p>\n

Over the years the store had shrunk back down from a chain and struggled to turn a profit from it\u2019s London site, despite having 5 million customers coming through the doors each year out of 220 million annual visitors to the Oxford Circus shopping area. Managing Director, Ed Burstell, joined Liberty from New York\u2019s luxury department store Bergdorf Goodman in 2008 tasked with turning around the historic store\u2019s fortunes. Since he arrived, Liberty have experienced continued double digit growth and sales are now up to \u00a360 million per year with \u00a32 million in profit.<\/p>\n

Here are some lessons I learnt about retailing by watching Ed Burstell and his team in this documentary.<\/p>\n

1. Christmas is Major<\/b><\/h4>\n

Christmas is a 365 day a year job for retailers and is the most important thing they do. Liberty take 20% of their annual sales in the six weeks leading up to Christmas and their Christmas shop attracts 250,000 people each year. They constantly monitor how things are selling, reorder best sellers and make sure the displays stay full so as to not lose any sales.<\/p>\n

2. Train Your Team Well<\/b><\/h4>\n

The Liberty staff regularly meet to show products to each other and talk through what makes them special with a focus on the story of the gift items they sell. The team know what is expected of them and that they will be tested by mystery shoppers. Their focus is on being friendly, helpful and having good knowledge of the products they are selling.<\/p>\n

3. Retail Staff are Sales People<\/b><\/h4>\n

Liberty track sales on a daily basis and involve their staff in hitting the targets. Everyone within the store that was customer facing had been taught how to sell. The company offers sales commission for shop floor staff and everyone is focussed on maximising sales. When it got busy at Christmas, the whole team got involved on the shop floor and at tills including the Head Buyer, Julie Hassan, and receptionist, Judy.<\/p>\n

4. Value your team<\/b><\/h4>\n

Ed regularly asks his team what they think. I was interested to see how many negative responses he had for ideas he liked. Even the idea of a Liberty Bear (which Liberty actually sold 20 years ago – \u2018like hot cakes\u2019 according to Jo) was dismissed by Kate Bridley, Liberty\u2019s marketing manager, as \u2018a bit Harrods.\u2019 What\u2019s important is that staff feel involved and valued as team members. Ed personally writes Birthday cards to every member of staff and holds quarterly meetings to celebrate new and long standing members of Liberty\u2019s team.<\/p>\n

5. Know your Numbers<\/b><\/h4>\n

You have to know what\u2019s selling well and what\u2019s not so that you can maximise your sales and profits. As Ed notes, \u201cYou\u2019re ruled by sales. There\u2019s a report I get every Monday, that tells me, by department, how much business we are doing per square foot. What it does though, is make you think every single week, am I maximising every single foot that\u2019s in this building.\u201d<\/p>\n

6. Shop Windows are Key<\/b><\/h4>\n

If customers are not in your store then you have to drive them in off your street. \u201cWindows are a stores\u2019 number one vehicle for advertising. So in terms of enticing\u00a0people to come into the shop. It\u2019s your biggest priority,\u201d says Ed.<\/span><\/p>\n

7. Watch your Margins<\/b><\/h4>\n

Don\u2019t stock items just because they are nice, they must make margin. As Ed points out to his team, \u201cThe building\u2019s finite. Pretty soon we\u2019re going to be out of space. Other than just taking price points up and hoping that we keep on increasing footfall, I think we have to look at the margin line. We need to prioritise what\u2019s going to give us the biggest return. If there\u2019s something that would be nice to stock, it probably won\u2019t happen unless it comes with the return on the investment attached to it.\u201d<\/p>\n

8. Maximise Your Selling Space<\/b><\/h4>\n

Liberty cannot grow their London site any larger than it is, although Ed has cleverly maximised the space available to him by expanding his selling area from 70,000 to 78,000 square feet. There\u2019s no large swanky office for the MD as office space is taken for sales and even stock rooms and unused toilets have been remodelled into retail space.<\/p>\n

9.\u00a0<\/b>Be Selective with your Buying<\/b><\/h4>\n

Liberty focus on presenting what is perfect within their space and have ditched a lot of the clutter that covered the real gems within the store. As Ed says, \u201cWe won\u2019t launch something unless it\u2019s right. Our customers love our edit (product selection) and they love our focus.\u00a0It\u2019s choosing the right stuff that is the entire trick to this business.\u201d<\/span><\/p>\n

10. What makes you Unique?<\/b><\/h4>\n

Although the Tudor building Liberty occupies is a disadvantage because of it\u2019s size and shape, it\u2019s also what makes it special and a unique place to visit. Ed has also focussed on making exclusive deals with designers like Manola Blahnik to set themselves apart from other stores and give consumers more reason to come to them.<\/p>\n

11. Maximise Other Revenue Streams<\/b><\/h4>\n

Liberty art fabrics are still the company\u2019s biggest money spinner, accounting for two thirds of their profits. Over two and a half million metres of Liberty fabric is sold in over thirty countries worldwide. The company still designs 40 new print designs per year from their small London studio and has over 40,000 hand painted originals on archive. This Intellectual Property is a valuable asset that can grow income without requiring further retail space to do so.<\/p>\n

12. Retail is an Experience<\/b><\/h4>\n

If bricks and mortar retailers are to stand any chance against internet retail, they have to offer a unique experience for their customers. As Liberty\u2019s General Manager Lee says, \u201cIt\u2019s the service you get from the person who\u2019s talking to you about it. \u2018Does it look great? Do you feel great in it?\u2019 Then when you\u2019ve got the product, it\u2019s how it\u2019s wrapped. You can\u2019t just throw it in a bag. You\u2019ve got to wrap it to perfection. You walk out with pride. When you get it home you open it again. It\u2019s all part of that experience.\u201d<\/p>\n

13. Understand your customers<\/b><\/h4>\n

Liberty has a range of customers, some who have shopped there for years. As Ed states, \u201cYou inherit the customer. You don\u2019t want to alienate that customer. Give them something they want and maintain their needs. Then focus your efforts on the next one that is going to explode, like the younger more fashionable customer.\u201d<\/p>\n

14. Look after your Biggest Customers<\/b><\/h4>\n

Liberty\u2019s top 50 VIP customers spend on average \u00a340,000 a year each in the store. To thank them they are given a luxury hamper worth \u00a3700 and a gold loyalty card. They\u2019re also all known by name by the team. The rug department will drive ranges of rugs to key clients\u2019 houses to help them choose. Liberty staff even call their key clients to let them know when new stock arrives that they might like.<\/p>\n

15. Marketing Events Matter<\/b><\/h4>\n

Liberty had several marketing events including a Christmas launch for journalists, a celebrity book signing and the reveal of their Christmas window. These were great for involving the press and inviting VIPs in to drive PR and sales for the business.<\/p>\n

16. Organisation is Vital<\/b><\/h4>\n

Liberty\u2019s team run their store like a military operation to ensure stocks don\u2019t run out and they maximise sales. The buyers also plan their buying before they attend buying events. They know who they want to see, they are up to date on the key trends and have a plan for what they want to achieve whilst attending shows.<\/p>\n

Liberty of London is one of our favourite stores in the UK and Blue Eyed Sun have been lucky enough to supply them on various occasions over the years. It\u2019s a real privilege to get an insight into what goes on behind the scenes of this iconic British brand and see it doing so well.<\/p>\n

What I learnt about selling from Liberty’s top sales staff<\/a><\/p>\n

Watch the Liberty of London Documentaries online<\/a><\/p>\n

18 Retailing\u00a0Insights from Cherry Kealey’s\u00a0Secrets of the Sales Documentary<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Britain\u2019s great iconic retail emporium, Liberty of London, and it’s staff were the stars of a fascinating documentary giving a unique insight into modern retail. Blue Eyed Sun\u2019s designer and co-founder, Jo, had her very first job was at Liberty. At fifteen, she joined the Norwich branch as a Saturday girl on work experience and […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[60],"yoast_head":"\n16 Retail Lessons I learned from Liberty of London<\/title>\n<meta name=\"description\" content=\"Sixteen lessons on retailing that I learned by watching the Channel 4 documentary on Liberty of London and the staff who work there.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.blueeyedsun.co.uk\/blog\/16-retail-lessons-i-learned-from-liberty-of-london\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"16 Retail Lessons I learned from Liberty of London\" \/>\n<meta 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