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The Retail Market – News & Views

The Retail Market – News & Views. Presented to: London Business Interruption Association Presented by: Catherine Rawlin, Partner Mark Jennings, Senior Manager Date: 4 February 2013. Health of the retail industry (ONS, Retail December 2012).

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The Retail Market – News & Views

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  1. The Retail Market – News & Views Presented to: London Business Interruption Association Presented by: Catherine Rawlin, Partner Mark Jennings, Senior Manager Date: 4 February 2013

  2. Health of the retail industry (ONS, Retail December 2012) The Retail Market – News & Views

  3. Year-on-year growth patterns for December (ONS, Retail December 2012) The Retail Market – News & Views

  4. Internet sales (ONS, Retail December 2012) The Retail Market – News & Views

  5. The demise of the High Street (retailresearch.org) The Retail Market – News & Views

  6. Already in 2013… • Blockbuster • HMV • Ethel Austin • Jessops The Retail Market – News & Views

  7. But it’s not all bad news… The Retail Market – News & Views

  8. Issues in retail business interruption claims - Scenario • Store in large supermarket chain in South East England • Devastating fire on 20 November 2011 • Re-build and restart trading on 30 September 2012 The Retail Sector – News & Views

  9. Mitigation efforts • Smaller, temporary version of store built in car park • Customers directed to other local stores and on-line ordering • Also, buses laid on to transport customers to nearest store • Marketing of a) actions taken and b) re-opening of store • Discounts given The Retail Sector – News & Views

  10. Basis of claim for loss of gross profit • Expected sales: based on a forecasting model used by the business day to day. • Expected rate of gross profit is based on the year to date for 2012. • What issues would need to be considered? The Retail Sector – News & Views

  11. Examples of issues on loss of gross profit • Reliability of model • Seasonality – sales & gross profit rate • Make up at other local stores or via on-line sales • Recovery on re-opening (the competition did some marketing too!) The Retail Sector – News & Views

  12. Examples of issues for increased costs of working and savings • Cost/benefit of mitigation activities • Potential increased costs at nearby store • Transfer of labour • Fixed cost savings at the affected store The Retail Sector – News & Views

  13. Other issues on retail claims • Viability of business • Losses at distribution centres • Wide area damage following natural catastrophe The Retail Sector – News & Views

  14. RGL Forensics is an international firm of accounting, valuation and technology professionals who are specially trained in discovering and defining financial value. The firm establishes relevant facts and reliable figures for insurance, legal, corporate and public sector clients and has done so for over 30 years. About RGL In 23 offices on four continents, RGL combines the skills and experience of its professionals with the financial models, methodologies and technologies that meet or exceed global standards for evidence. For more information about RGL and its 23 offices worldwide, please visit rgl.com. The Retail Market – News & Views

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