The outlook for today’s retailers is a challenging one as many find themselves confronted by the fragile economic environment. The industry is in the midst of a significant restructuring unlike anything seen by the current crop of retail executives. With growth and profitability far more difficult to achieve in the near term, there will be a greater need for retailers to operate more efficiently, with further emphasis placed on cost reduction, expense management, and customer centricity. Innovation and knowing how, where, and when to engage consumers will likely be key attributes for success in the decade ahead.
In the short run, retailers will need to focus on building market share via business models that are more responsive, adaptable, and efficient with resources and assets. Consumers will be intensely value-oriented, even more so than in the recent past. Top-line growth, however, will require something altogether different. Retailers will gain market share only if they are clearly differentiated from competitors, possess strong brand equity, have the ability to innovate in order to maintain differentiation, and offer a multi-dimensional, multi-channel experience that excites consumers. These are the factors that will provide retailers with pricing power.
In order to work in retail and provide services to companies like yours, our client service consists of specialists who focus their activities and practices on your industry. Team members have gained background in retail through experience, and by pursuing additional training on the trends and issues affecting your industry.
We have found that only by understanding the structure and practices of retail can we deal with the increasingly complex challenges you face. Your success is determined by how your company deals with these sales, operational, management and financial challenges. Sousa & Weber provides your business with business and management insight to help you reach your goals.
Sousa & Weber is in tune with your business cycles.