Planning for expansion, training of staff, making purchasing decisions 18 months-2 years out, maintaining margin, determining actual ‘cost-to-serve’ for clients and suppliers, refurbishment and depreciation, inventory control, customer behaviour predictions and traffic patterns, foreign exchange and sustainability of product ranges, product profitability, rebate agreements, marketing and customer retention etc, are all areas of concern for retailers.
As wallets get put away and credit becomes more difficult to obtain, most consumers are changing their purchasing patterns. Crucial decisions need to be made.
Money in the bank is worth more than margin on the shelf.
What lines will you carry and grow and which ones should you drop?Which stores will ‘hold their own’, which will contract?
What impact will a raise in minimum wage have on your staff costs and your customer spending behaviours?
What are the indicators and trigger points where you have to redeploy staff to another location or reduce head count?
What efficiencies can be gained in the business?
How do you actually grow your revenues in these times?
Get a Bigger Portion of the Pie
A significant portion of retail spending is not essential, and even when it is, it is never essential that they spend it at your store. At Cortell we have always appreciated this and we pride ourselves in working with our customers to determine the real value of the products they stock and the customers they have. We do not want our clients to only get their “fair share” of the pie - in this market, to sustain and grow your business, you need part of someone else’s too.
Same rules Apply
The rules that always applied in retail, still apply. Information has always been the key to making sound business decisions. The difference is that in recent years we may have looked at the information with a magnifying glass; right now we need a microscope.
Cortell’s solutions and expertise provide cost-efficient insight with speed, enabling businesses to be dynamic and nimble enough to negotiate their way competently though the good times and the bad.