Jumbo turns to McKinsey
IT retailer Jumbo Electronics has turned to the high-flying management consultants at McKinsey & Company to fine-tune the company’s expansion plans.
IT retailer Jumbo Electronics has turned to the high-flying management consultants at McKinsey & Company to fine-tune the company’s expansion plans. McKinsey will study Jumbo’s existing retail operations and devise a growth strategy that takes advantage of the opportunities in consumer electronics retail in the Middle East in the years ahead.
McKinsey’s study will focus on several areas or ‘service lines’ including ‘format strategy and renewal to keep up with consumer preferences’. McKinsey will also look at the customer experience, brand loyalty, multi-channel strategy, pricing and promotions and the use of technology in the retail operations.
Kiran Chabria, director of marketing and communications at Jumbo Electronics, said: “We are proud to work with the world’s leading consulting firm and are very optimistic about the outcome of this unique alliance. The changing retail landscape in the Middle East offers tremendous opportunity for growth, and customer expectations requires that we adopt not just the latest retail technology but a radical shift in our approach to delivering customer satisfaction. Additionally, of late, several principal companies as well as distributors have expanded their regional presence.”
McKinsey consultants will look at the location of Jumbo’s 23 stores and analyse the behaviour of the 4,000 customers per day that pass through Jumbo’s stores. It is hoped that the four-month project will benefit Jumbo’s position in the market and consolidate its relationship with principal companies.