Buy smarter to minimise stock & maximise profits
Do you own a retailing business? Do you own a chain of shops or do you have a shop or website? Are you a wholesale business? If the answer is yes then I can help.
The Retail Landscape is Changing
The challenges facing Retail businesses are well documented. Prior to the pandemic the landscape was challenging -the cost of stock was increasing and on the high street footfall was declining year on year. Many large retailers have folded in the last year leaving high street vacancy rates at an all time high. There are three main reasons for the demise of some of the big retailers.
- They lost sight of their core consumer and didn’t keep up with their changing needs.
- They didn’t offer a clear unique selling proposition and became too similar to their competitors.
- Their store estates were too big and they weren’t quick enought to respond to the rapid growth of the internet.
As we navigate through the pandemic Retail has been the hardest hit sector with lockdown meaning many businesses had to close. I believe now is the time for SME retail and wholesale businesses to fill the gap left by some of those big brand names. By offering differentiated product and offering exceptional service they can truly thrive.