Spa Retail Management: Creating a Strategic Retail Plan
By Nina Curtis Founder & President, The Nile Institute | October 28, 2008
Creating the Strategic Retail Plan
Through the months, I have written on several aspects of spa retail management and this issue's topic on Creating a Strategic Retail Plan is crucial for the future success and sustainability of the spa as a strategic business unit (sbu) of the hotel.
As a sbu of the hotel, the spa's strategic retail plan should consider the overall strategy of the hotel and find ways to create a congruent plan of action so that seamless results are achieved. This sends a dynamic message in the branding of the spa as a cohesive unit.
The strategic retail plan aims to create a long-term plan of action that will provide an overall sense of direction for the spa and its retail activities. The spa's strategic retail plan can be considered the "blueprint" for ensuring success in all of the spa's business endeavors.
The strategic retail plan is focused on achieving a strategic fit between the spa's capabilities and opportunities in the market place both present and future. A solid fit positions the spa for sustainability and allows it to overcome environmental competition. This focus also allows the spa's management team to recognize market changes and demands thus allowing for internal adjustments as necessary.
Key components of the strategic retail plan include; (1) the spa's mission, (2) the spa's objectives, (3) the spa's capabilities and (4) the spa' opportunities.