Rami Baitiéh has led Morrisons through significant changes over the past year, focusing on improving financial stability and customer engagement.
- Morrisons addressed its debt by selling ground leases and its forecourt business, significantly reducing financial liabilities.
- Baitiéh emphasized listening to customers, involving them in management meetings to improve pricing and service.
- A major investment was made in the More Card loyalty scheme, offering personalized rewards and expanding its reach.
- The retail chain invested in AI technology to enhance product availability, aiming for enhanced customer service and efficiency.
Over the last year, Rami Baitiéh has concentrated on stabilizing Morrisons’ finances, taking decisive steps to reduce its substantial debt. The sale of ground leases on 76 stores generated significant funds, allowing the company to trim its debt by 41%, setting the stage for more focused investments and operations.
Baitiéh believes in the power of listening to customers to drive business improvement. To this end, Morrisons has incorporated customer feedback sessions into its routine, allowing customers direct access to management meetings. This initiative has paved the way for better service, competitive pricing, and enhanced product offerings, as well as elevating the voices of store managers to prioritize immediate customer needs.
Continuing the momentum, Baitiéh pushed forward with enhancing the Morrisons More Card. This loyalty program saw its largest influx of investment in years, introducing over 2,000 special pricing options for cardholders. Additionally, the More Card has expanded into digital marketplaces, rewarding loyalty even on third-party platforms.
To further augment customer experience, Morrisons has integrated AI technology across its stores to improve product availability. This technological upgrade has not only raised availability scores but has also enabled staff to focus more on customer service by directing them to restock crucial areas promptly.
In terms of market competitiveness, Morrisons launched a Price Match initiative against discount giants Aldi and Lidl. This scheme covers over 200 essential products, ensuring that customers receive the best possible prices. This strategic move seeks to bolster consumer confidence and loyalty by directly addressing price competitiveness while maintaining a commitment to premium British products.
The retailer also launched the Sir Ken Morrison Leadership School which is intended to cultivate future leaders from within. This initiative stands out as a significant investment in Morrisons’ human capital, promoting skill development and career progression.
Furthermore, Morrisons is expanding its convenience store portfolio, with ambitions to open 400 new locations and has recently acquired 36 stores in the Channel Islands. This growth extends to its online presence through partnerships with delivery services, highlighting its focus on expanding convenience for its customers.
A notable reshuffling of Morrisons’ senior management took place, with a third of its top executives being replaced to infuse new strategies and invigorate company operations. This overhaul is targeted at aligning leadership roles with the company’s refreshed vision under Baitiéh’s guidance.
Despite the positive strides, Morrisons underwent a management restructuring within its logistics operations resulting in job reductions and a shift away from night shifts. This change aimed primarily at enhancing operational efficiency across its distribution network.
Rami Baitiéh’s first year as Morrisons’ CEO reflects a forward-looking strategy focused on financial health, customer engagement, and operational excellence.
