The drivers/demands/behaviours changing this area of retail
Supply chain issues and rising costs are driving profit warnings from UK listed companies. Profit warnings issued by consumer-facing businesses, including retail and grocery producers, accounted for a third of all warnings in Q3 2021 as rising energy prices, supply bottlenecks and labour shortages spread across the economy. This is all happening against the backdrop of Covid, pent up consumer demand and peak trading.
The current state
Retail doesn’t stand still. It is continually changing and the pace of change is increasing – and then the pandemic alters things again, as did/does Brexit. Flexibility and agility are required through daily trading and the year’s peaks and troughs along with scalability for future growth. A big ask for an industry that not that long ago was used to moving pallets rather than individual products.
Implications
- Continuing to meet customer expectations and delivery promises
- Service differentiation
- Monitoring and control of business costs
Discussion points in the podcast
How do you plan for peak trading?
How do you build agility and flexibility into what appear to be rigid warehouse operations?
What lessons can be learnt from the agility of grocery retailers in 2020?
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