The Jessops administration highlighted how even established chains can crash and burn – but the camera specialist is already rising from the ashes, thanks to the Dragons’ Den star and his belief in a multi-channel approach.

R.I.P.

Blockbuster

Tie Rack

Comet

Past Times

Focus DIY

The last few years have been hell for the retail sector.

For instance, in a single week during January 2013, Jessops, HMV and Blockbuster called in the administrators, creating the potential for:

over 10,300 job losses

nearly 1,000 store closures.

Many retailers – whether small, independent operators or high street names – have been felled in an increasingly competitive world where a tough financial climate, the increasing threat from the online world, and a non-existent or slow uptake of multi-channel has claimed several victims.

So how does a retailer not only survive on the high street but prosper, when facing such odds?

Multi-channel is a vital part of the solution.

Create a joined-up approach to your retail store, opening up channels across different media for customers to engage with your brand.

From click-and-collect and smart social media use to deploying the latest technology in-store and mobile-friendly responsive websites – presenting consumers with a seamless branding experience can pay dividends:

John Lewis, Burberry and Oasis . . .

. . . are just three of the many high street retailers who have flourished by embracing a multi-channel approach in recent times.

And it's a strategy that can offer hope to all retailers – even those that have previously failed . . .

187 shops closed.

1,370 jobs lost.

When the Jessops administration hit headlines in January 2013, it was thought the camera specialist would vanish from our high streets forever.

But entrepreneur and Dragons’ Den star Peter Jones disagreed.

Pumping £5 million into the chain, Jones went on to reopen:

six stores over the Easter weekend in 2013

and 22 more stores (as of 20 January 2014)

. . . meaning that the brand could continue, but now in a more viable format. On top of this pragmatic approach to bricks and mortar, Jones has also invested in a full multi-channel strategy.

Jessops now offers a host of multi-channel initiatives in its 28 new Apple-like stores:

Click-and-collect

The physical and virtual worlds brought together using a click-and-collect store option for customers.

Play tables

Customers can enjoy extensive hands-on with products, interacting with them before making their purchase.

In-depth assistance

Highly trained staff are on hand to help customers – from choosing the right camera for their specific needs through to the process of setting up their purchase.

The Jessops Academy

Photography courses for customers to hone their photographic skills, so they make the very most of their purchase from Jessops.

Only time will tell if Peter Jones's fully integrated multi-channel approach plus lower overhead base will pay off – but early signs are encouraging. With Jones at the helm, the camera retailer is set to generate sales of over £70 million in its first year and will return a profit.

“Our sales are up like-for-like over 30%, compared with last year.”

Peter Jones on the Jessops recovery

So remember:

• To ensure that your retail operation is ready to face the future, draw up a multi-channel plan now.
• If you're unsure how to proceed, use a reputable industry expert to help formulate a strategy.
• Delay and risk ending up on a list of retail companies that have failed.

12,000 shops are predicted to shut down in 2014; that's 2,000 more than closed in 2013.

Enhance your strategy with our free eGuide: Make omni-channel retailing work for you with these 6 top tips