Navigating The Retail Industry Today
Staff shortages, recession fears, cost of living crisis, and the modern shop floor.
September 16, 2022
With the rising cost of living, high inflation, and pending recession on the horizon, retailers face new challenges. Employees and shoppers are feeling the pinch too, as they reassess their role on the modern shop floor and spending habits ahead of Christmas.
Our latest data shows retail employees are worried about staffing issues and many feel undervalued. It is vital that retail leaders respond to these concerns, as underappreciated employees lead to high staff turnover rates with huge consequences for a business.
As customers plan to tighten their wallets across a range of retail experiences from groceries to luxury, retailers will be looking to improve services and customer experience to drive confidence in the high street among shoppers.
For retailers, staying attractive to shoppers, as well as retail employees, through the looming recession will vary business by business. But we can expect the response to include streamlining productivity, ensuring efficient workforces, and keeping price points within reach of the consumer.
In this report, we analyse our latest data to show retail leaders, employees, and shoppers’ main concerns for the rest of 2022 and beyond.
Download the report to discover:
- How to respond to increasing consumer demand and lower spending expectations
- Which technologies will shape the future of retail at in-store level
- Which technologies will help keep staff engaged through a tumultuous period
