- April 29, 2015
- Posted by: greendot
- Category: entrepreneur, retail, strategy
with the globalization and with the help of the technology traditional retailers are almost surviving or on the edge to close the business or may be suffering from very low profitability. in some cases we observed that the if they put the shop on rent they will be earning more, considering the Net profit ration by doping retail trading.
- The rapidly changing face of technology with online shopping and the challenges of e-commerce increasing competition and costs
- Social media and other digital marketing avenues are challenging the traditional business model and how consumers are influenced
- Shop fronts and the requirement of having one are changing due to increased global connectivity and being able to reach your markets in a number of ways
- The creation of an expectation of discounting and the cycle of retail sales and how this can impact a brand locally and off-shore
- Staff retention and workplace relations are ongoing issues that are impacted by legislation, media and generational changes, this affect more in to retail.
- Fraud detection and loss prevention is seen as a part of doing retail business, however there are always opportunities to reduce the impact
- Interest rate movements and consumer confidence, whether they are buoyant or not, can have a dramatic effect on fashion
- Overall economic conditions, including debt levels, credit card usage, unemployment levels and housing values, all impact a consumers desire and comfort to spend
- Increasing costs of rental space and location opportunities this affect the ROI in retail business.
- to keep your customer loyal is a challenge unless you develop your own USP.
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