A recent survey of high street retailers has found that the industry has shown zero growth in total year-on-year sales, despite a wide range of discounts and other incentives being made available in an attempt to encourage shoppers to buy. Online sales were however stronger, with a growth of 21.7 per cent over the same period. The findings also showed a reported doubling and even tripling of growth amongst some fashion retailers.
With digital technology and social media becoming key to helping retailers overcome certain business challenges and gain access to potential new customers, investment in this area is fast becoming an important element of a retail business' strategy.
At Beavis Morgan, we work with a number of retail businesses, helping them with strategic planning, system implementation, business turnaround and improving business performance for the future. For further information about how we can help you and your retail business, contact Steve Govey or your usual Beavis Morgan Partner.