KPI's
We have a number of key performance indicators and milestones that allow management to monitor the performance of our strategy. These are shown in more detail in Milestones and in Shareholder KPIs.
Risks
Like all businesses, our Group faces risks and uncertainties that could impact the achievement of the Group's strategy.
These risks are accepted as being a part of doing business and are described in more detail in Risks and Uncertainties.
Remuneration
There are a number of incentive schemes available across the business, which aim to deliver growth and key projects aligned with the Group's strategy. Details of executive remuneration and incentives can be found in Remuneration Committee Report and Annual Remuneration Report.
Getting into Gear
We plan to offer customers the ability to shop in a warm, inviting and engaging store environment.
We will ensure that Halfords is the No.1 destination for the products that we offer.
The execution of this strategy is central to our aim to build a sustainable business that not only drives profitable top-line sales growth, but also seeks to promote a strong work culture with a focus on colleague development. This is combined with a determination to provide a customer shopping experience based on friendly expertise. We know that this will lead to more customers, visiting more often, taking advantage of more products and services, creating value for our shareholders.
Getting into Gear | Service Revolution
We aim to offer a significantly enhanced Halfords Retail experience for our customers. We have embarked upon a series of changes to how we get the best from our colleagues, introducing our 3-Gears training programme to enable colleagues to serve customers knowledgeably and to support them going that extra mile. We've also executed a number of management programmes for colleagues and managers whilst focusing on improving our selling communications and our product availability. The services that we offer customers have been enhanced by our colleagues and have delivered product-specific fitting training, improving skills and capability. All of this has been done with the customer in mind so that we can enhance the trust that our customers have in our brand and our colleagues and deliver service that wows every time.
Getting into Gear | The 'H' Factor
We will ensure that Halfords is the No.1 destination for the products that we offer. Our Auto offer, the largest part of our business, looks to support drivers with the servicing, maintenance and enhancement of their motor vehicles. In Cycling we are already the largest retailer of cycles in the UK, selling bicycles into all areas of the market, with Boardman at the heart of our premium range and the biggest UK cycling brand Apollo being used for the majority of our customers' leisure and short commute rides.
In FY15 we shall be launching a new range of junior bikes within Boardman and relaunching our fast-growing Carrera brand as well as adding more parts, accessories and clothing to our store range.
Camping and associated products have been a focus for Halfords over recent years and we will be looking to build on past successes of equipping families for their leisure time by introducing new ranges of camping accessories, wearable fitness products and offering 'bundled' products.
Getting into Gear | Stores Fit to Shop
We plan to offer customers the ability to shop in a warm, inviting and engaging store environment. To do so we have commenced a refresh project within our store portfolio, with many undergoing redevelopment as part of our Stores Fit to Shop refresh programme. We are improving signage both externally and internally, giving customers clear information about store segregation and product usage. We have reallocated space in some stores to accentuate our specialist offer in Auto and Cycling, enabling stores to range more bikes and to provide a more relevant environment in which to shop. We are introducing digital technology into stores allowing customers to look up products for their vehicles and to order extended-range products online. Our colleagues are also very much part of the Halfords shopping experience and changes are being introduced to our stores to ensure that they become central to the services we offer and to the overall customer journey.
Getting into Gear | 21st Century Infrastructure
We will have a Supply Chain & IT infrastructure that supports our delivery and availability aspirations both in-store and direct to customers. Technical improvements must be considered to enable our business to fulfil its potential. Shopping online or in-store needs to be seamless and easy, improving availability and ensuring that our customers feel engaged. We'll ensure our colleagues are supported to serve customers with access to product information that is accurate, timely and interactive. Our supply chain needs will be flexible to meet the needs of our customers and our stores, helping stores maintain on-shelf availability with more regular out of hours deliveries and delivering web-based orders at a time and place convenient to the customer.
Getting into Gear | Click with the Digital Future
Our website will continue to evolve to both help and enhance our customers' shopping experience. To ensure that we meet the challenges of a changing retail marketplace we are significantly improving the website, introducing How To Guides whilst launching a Halfords app and simplifying our Click & Collect process. We can now give our customers the opportunity to book services online in both the Retail and Autocentre businesses. We are now in the process of rolling out tablets to all stores to help our expert colleagues provide better information to our customers. All these improvements are essential as we move to a truly omnichannel model.
Read more about our Autocentre Strategy