16 strategies
Internal
Strengths: Location of stores, Directly import goods from country of origin,Well-known brand name in HK, High market share, Good connection with Japan’s supplier
Weaknesses: Lack of experience in retailing, Low net profit, Bulky purchase is required from Country of origins without knowing the popularity
Marketing:
The early mission for 759 Stores was to fight against large-chain supermarkets. 759 Stores practises a 'Small Profit, Quick Return' strategy: selling each product at a wafer-thin margin with the aim of gaining through the sale. In 2012, 759 Stores had achieved low turnover and income reaching HK$3.5 billion. With the support of its parent company, CEC International Holdings Limited, 759 Store is capable of surviving even with its current low profit rate. 759 Store's unexpected low selling prices have threatened other small shops and invited critics to comment that 759 Store has become a killer of small entrepreneurship, which it denies.
More than 95 per cent of products sold in the chain are imported directly, bypassing local distributors who the firm believes may be susceptible to anti-competitive pressure by Hong Kong's established retailers.
Place:
As at 30 April 2014, 759 STORE has 192 branches (2013: 134 branches). branches of 759 STORE are ideally located in 18 districts. The site selection of 759 STORE goes deep into local residential areas. Most of the branches are located in shopping malls and shop units of public and private housing estates. But 759 STORE is not positioned as convenience stores and the shop locations are not that convenient and easily accessible as traditional convenience store.
Price:
Do not follow local price setting.
759 store had decided to stick firm on the “low margin high turnover” policy with existing price setting program, further expanding their product sourcing spectrum, enriching the product choices on their shelves.
Product:
759 STORE started with selling mainly snacks, beverages,
Strengths: Location of stores, Directly import goods from country of origin,Well-known brand name in HK, High market share, Good connection with Japan’s supplier
Weaknesses: Lack of experience in retailing, Low net profit, Bulky purchase is required from Country of origins without knowing the popularity
Marketing:
The early mission for 759 Stores was to fight against large-chain supermarkets. 759 Stores practises a 'Small Profit, Quick Return' strategy: selling each product at a wafer-thin margin with the aim of gaining through the sale. In 2012, 759 Stores had achieved low turnover and income reaching HK$3.5 billion. With the support of its parent company, CEC International Holdings Limited, 759 Store is capable of surviving even with its current low profit rate. 759 Store's unexpected low selling prices have threatened other small shops and invited critics to comment that 759 Store has become a killer of small entrepreneurship, which it denies.
More than 95 per cent of products sold in the chain are imported directly, bypassing local distributors who the firm believes may be susceptible to anti-competitive pressure by Hong Kong's established retailers.
Place:
As at 30 April 2014, 759 STORE has 192 branches (2013: 134 branches). branches of 759 STORE are ideally located in 18 districts. The site selection of 759 STORE goes deep into local residential areas. Most of the branches are located in shopping malls and shop units of public and private housing estates. But 759 STORE is not positioned as convenience stores and the shop locations are not that convenient and easily accessible as traditional convenience store.
Price:
Do not follow local price setting.
759 store had decided to stick firm on the “low margin high turnover” policy with existing price setting program, further expanding their product sourcing spectrum, enriching the product choices on their shelves.
Product:
759 STORE started with selling mainly snacks, beverages,