Company Overview
Shaver Shop is an Australian speciality retailer of male and female personal grooming products and aspires to be the market leader in ‘all things related to hair removal’.
At 30 June 2016, there are expected to be 100 Shaver Shop stores across Australia and New Zealand. The Company also sells products via its websites
www.shavershop.com.auOpens in new window
and
www.shavershop.net.nzOpens in new window
, and an eBay store. Shaver Shop offers customers a wide range of quality brands, at competitive prices, supported by excellent staff product knowledge. The Company’s specialist knowledge and strong track record in the personal grooming segment enables it to negotiate exclusive products with suppliers.
Shaver Shop sources products from major manufacturers who seek to create functional and innovative products to meet customer’s needs and wants in the hair removal and personal care product categories. The Company’s core product range comprises male and female hair removal products such as electric shavers, clippers and trimmers, and wet shave items. Complementary to its core product range, Shaver Shop retails various products across the oral care, hair care, massage, air treatment, and beauty categories. The majority of Shaver Shop’s clients are females, purchasing for both themselves and others.
Shaver Shop's Competitive Advantage
Product exclusivity
A leading position in the retailing of hair removal products and strong existing relationships with suppliers enables Shaver Shop to negotiate exclusive access to a significant number of upcoming product releases from its key suppliers, which differentiates Shaver Shop’s product offer in the market place. The high service model of its stores (discussed below) differentiates Shaver Shop’s ability to work with key suppliers to successfully introduce new and innovative products to the market.
Product knowledge and customer service
Shaver Shop places significant focus on training to ensure all customer facing staff have an in depth understanding of the product range, and attend to the requirements of each customer in a friendly, courteous and helpful manner. Forums to support store staff training include an annual conference, quarterly state based events, a national on-line training portal and frequent in-store customer service training via the company’s national retail operations team. Mystery shopper visits are also conducted on a regular basis to measure the level of customer service provided across each Shaver Shop store.
A market leader in the hair removal market in Australia
With 99 stores across Australia, Shaver Shop has established a sizeable presence across the hair removal and personal care market. Shaver Shop has been able to refine its operating model since the first store in 1986. This market position creates key barriers to entry for new competitors such as buying power with suppliers, scale with marketing, and the time and cost to establish a national footprint with the appropriate infrastructure in place to support the network.
Quality brands at competitive prices
Shaver Shop aims to provide value to customers through competitive prices.
Depth and range of products
Shaver Shop offers a wide range of hair removal and personal grooming products in Australia, with over 3,000 SKUs. Shaver Shop has continued to evolve its product range to respond to changing consumer trends, and product innovation.
Strong brand awareness
Shaver Shop’s brand awareness is currently 80% and, in the Company’s view, has improved from 72% in 2015 with the support of traditional marketing campaigns – including brochure, TV commercials, and social media.
Trusted and respected brand
There is significant time and cost involved with developing consumer confidence in the quality of Shaver Shop’s service and product offering.
Growth Drivers
Key drivers of Shaver Shop’s growth are expected to be:
- Continued product innovation
Shaver Shop benefits as consumer trends evolve and require new and changing products to facilitate this. Shaver Shop seeks to work with manufacturers and suppliers to source products that cater to the emerging demands of consumers within the hair removal and personal care categories;
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Organic growth
Shaver Shop will continue to implement a strategic marketing plan and other initiatives to attract new customers to the business and encourage repeat business. Organic growth will also be achieved as recently opened stores reach maturity;
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Store rollout Shaver Shop aims to grow total store network numbers across Australia and New Zealand to 145. This will be achieved through Greenfield store rollouts, with a business case prepared for each new location; and
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Franchise store buy backs Shaver Shop also plans to continue its disciplined buy back of franchise stores, with transactions to be assessed as they become available.
Shaver Shop’s current store network and targeted store network across Australia and New Zealand is set out below:
